Bank of Finland’s indicator targets and their achievement in 2021

I Influence and service capacity

Guiding principle

1. We create added value through expertise, insightful solutions and confidence-building cooperation.

Public survey on the Bank of Finland’s reputation and public confidence in the Bank

Objective
The survey will be carried out every second year.
12/2019
12/2020
12/2021
New indicator

Stakeholder survey on the Bank of Finland’s effectiveness in regard to the strategic priorities

Objective
The survey will be carried out every second year.
12/2019
12/2020
12/2021
New indicator
Guiding principle

2. We base our statements and decisions on knowledge, research and high-quality analysis.

Quality-weighted volume of research activities. Quality-weighted index of peer-reviewed articles.

Objective
≥32
12/2019
52
12/2020
19
12/2021
56
Guiding principle

3. We participate in social discourse, reach our stakeholders and engage in constructive dialogue in Finland and the Eurosystem.

The visibility and effectiveness index of the Bank of Finland’s media output (Euro ja talous/Bank of Finland Bulletin media index)

Objective
≥ 4
12/2019
12/2020
New indicator
12/2021
4.6

Objective 2: The Bank of Finland maintains price and financial stability in all circumstances.

Guiding principle

4. We provide advanced and reliable central bank services for the changing needs of Finnish society.

The quality of central bank services from the perspective of the users of the services. (Target services and collateral management, users of statistics and reporters, professional parties to currency supply.)

Objective
≥ 95% of respondents satisfied
12/2019
98%
12/2020
98%
12/2021
98%

Consumer survey on access to cash and the condition of cash across society as a whole (weighted average).

Objective
≥4 (on a scale of 1–5)
12/2019
4.1
12/2020
4.1
12/2021
4.1
Guiding principle

5. We ensure operational continuity by preparing for changes, disruptions and crises.

Reserve fund + reservations relative to the assessed balance sheet risks.

Objective
We accumulate reserves to achieve a sufficiently strong balance sheet under all circumstances.
12/2019
EUR 6,066 million
12/2020
EUR 6,686 million
12/2021
EUR 6,807 million

Number of severe disruptions. Extensive disruptions or system disturbances to critical business operations affecting the Bank of Finland or the Financial Supervisory Authority and lasting longer than one hour.

Objective
0
12/2019
0
12/2020
0
12/2021
0
Guiding principle

6. We develop our expertise and working practices on a long-term basis and with an eye to the future.

Our management index surpasses the outcomes of external peer groups.

Objective
2019: ≥ 71.4; 2020: ≥ 71.7; 2021: ≥ 69.9
12/2019
70.8
12/2020
74.1
12/2021
73.4

Our job satisfaction index surpasses the outcomes of external peer groups.

Objective
2019: ≥ 70.6; 2021: ≥ 71.5
12/2019
70.9
12/2020
Measurement every second year
12/2021
73.6

Annual implementation of individual development plans

Objective
Over 80% of plans implemented well
12/2019
80%
12/2020
79%
12/2021
80%

Objective 3: The Bank of Finland promotes citizens’ wellbeing.

Guiding principle

7. We act responsibly and in accordance with the principles of sustainable development.

Carbon footprint, total emissions/operating expenditure of the Bank of Finland and the Financial Supervisory Authority

Objective
A downward trend
12/2019
12/2020
Calculation method changed to accord with internationally approved and recommended greenhouse gas (GHG) protocol.
12/2021
98 kg CO2/€1,000

Observance of the UN Principles for Responsible Investment

Objective
2020: Reporting organised and implemented; 2021: Measurement calibrated
12/2019
New indicator
12/2020
Reporting organised and implemented
12/2021
Measurement calibration incomplete

Minority gender as proportion of all management staff

Objective
Upward trend
12/2019
42%
12/2020
45%
12/2021
47%

Absences through sickness

Objective
< 3.5%
12/2019
2.4%
12/2020
1.7%
12/2021
2.1%
Guiding principle

8. We carry out our activities effectively and efficiently, maintaining stable profit distribution to the State without jeopardising the Bank’s capital adequacy.

Distributed profit

Objective
Stable distribution of profit to the State
12/2019
EUR 188.0 million
12/2020
EUR 100.0 million
12/2021
EUR 26.3 million

Interest income plus the yield on investment assets above the 5-year average of the average central bank interest on the currencies in the currency reserve

Objective
> 0
12/2019
New indicator
12/2020
New indicator
12/2021
Interest income 0.8%, yield on investment assets 2.4%

Combined person years of permanent, fixed-term and temporary staff

Objective
2021: ≤ 385.5
12/2019
372
12/2020
364
12/2021
376

Aggregate departmental operational expenditure

Objective
2021: ≤ EUR 66 million
12/2019
EUR 56 million
12/2020
EUR 55 million
12/2021
EUR 58 million
Guiding principle

9. We promote citizens’ knowledge of the economy, the Bank of Finland and the Eurosystem by providing understandable information.

Implementing national coordination of financial literacy

Objective
Making progress in line with the action plan
12/2019
New indicator
12/2020
Implemented in line with action plan
12/2021
Implemented in line with action plan

Time spent with the Bank of Finland’s Internet content

Objective
Average duration of visit ≥ 1 minute
12/2019
12/2020
New indicator
12/2021
1 minute 6 seconds

Engagement rate for social media posts (Twitter)

Objective
≥ 3%
12/2019
12/2020
New indicator
12/2021
1.5 %