Eesti Pank works with the Ministry of Finance and the Estonian Financial Supervision Authority in ensuring the reliability of the Estonian financial system and the appropriateness of the regulation underpinning the financial sector.
This is coordinated between institutions by a joint committee, and the principles for the work and a more precise division of roles are set out in a memorandum of understanding. The institutions have a separate agreement for the management of financial risks.
Eesti Pank has three priorities in international work on financial stability.
- Financial stability in the Eurosystem. Eesti Pank participates in the assessment and analysis of the euro area and EU financial systems, and in drafting opinions, standpoints and political positions on the financial sector stability in the euro area and the EU.
- Macroprudential oversight in the European Union. As a member of the European Systemic Risk Board (ESRB), Eesti Pank participates in the macroprudential oversight of the financial system in the EU (more).
- Nordic-Baltic cooperation. To safeguard financial stability, Eesti Pank works with the central banks of the region, and with other institutions responsible for financial stability (more).
Eesti Pank also considers it important to participate in the IMF and OECD discussions on financial stability.