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Omaisuudenhoitoyhtiö Arsenal
Omaisuudenhoitoyhtiö Arsenal Oy ("Asset Management Corporation Arsenal") is a bad bank-type corporation founded by the Government of Finland for management of assets received as collateral from bad debt. Arsenal was founded after the early 1990s recession in 1993 as a response to the nationalization of failed banks, mainly Säästöpankki and STS Bank. (The contribution of the Säästöpankki group to the total damages to the government was 96%.) The defaulted debts led to a large amount of property being passed to the government as collateral, with concomitant bankruptcy court cases where the state had an interest. In 1994, Arsenal held 4.822 million euros of assets and had 12,684 customers. In 1999, the business managing the real estate collateral was spun off as Kapiteeli Oyj, which was bought by Sponda in 2006. (Sponda was also founded as a result of the same crisis around real estate and stocks from the collapsed SKOP Bank, but since 2012 has had no government ownership.) M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bad Bank
A bad bank is a corporate structure which isolates illiquid and high risk assets (typically non-performing loans) held by a bank or a financial organisation, or perhaps a group of banks or financial organisations. A bank may accumulate a large portfolio of debts or other financial instruments which unexpectedly become at risk of partial or full default. A large volume of non-performing assets usually make it difficult for the bank to raise capital, for example through sales of bonds. In these circumstances, the bank may wish to segregate its good assets from its bad assets through the creation of a bad bank. The goal of the segregation is to allow investors to assess the bank's financial health with greater certainty. A bad bank might be established by one bank or financial institution as part of a strategy to deal with a difficult financial situation, or by a government or some other official institution as part of an official response to financial problems across a number of inst ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Finland
sv, Finlands statsråd , border = , image = File:Finnish Government logo.png , image_size = 250 , caption = , date = , state = Republic of Finland , polity = , country = , address = Government PalaceSnellmaninkatu 1 A, Helsinki, Finland , leader_title = Prime Minister of Finland , appointed = President of Finland , budget = €55.8 billion (2018) , main_organ = Prime Minister's Office , ministries = 12 (list) , responsible = Parliament of Finland , url government.fi The Finnish Government (; ; ) is the executive branch and cabinet of Finland, which directs the politics of Finland and is the main source of legislation proposed to the Parliament. The Government has collective ministerial responsibility and represents Finland in the Council of the European Union. In the incumbent Marin Cabinet, the Government comprises 19 m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Early 1990s Recession In Finland
The early 1990s depression in Finland was one of the worst economic crises in Finland's history, even worse there than the 1930s Great Depression. The depression of 1991–1993 had a deep effect on the economy of Finland throughout the 1990s, especially in terms of employment but also in culture, politics and the general sociopolitical atmosphere. The gross national product decreased by 13%, and the unemployment rate rose to 18.9% from 3.5%. Since then, despite an overall recovery, unemployment has been persistent, and Finland has never returned to the state of nearly full employment that had existed before the crisis. Causes An underlying cause was the economic policy of the 1980s. Finland experienced a strong economic boom throughout the 1980s that dragged on and "overheated" the economy, leading to the corrective contraction of the depression. One reason was a change in Finnish banking laws in 1986 to allow Finnish companies to seek credit more easily from foreign banks, wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Suomen Työväen Säästöpankki
National Workers' Savings Bank (1971-1989) (In Finnish; ''Suomen Työväen Säästöpankki'', in Swedish; ''Arbetarsparbanken'') or STS-Bank (1989-1992) was a Finnish savings bank and commercial bank. Workers' savings banks were syndicalist, social democratic corporations intended to compete with privately owned banks, which could deny credit to workers on political grounds. Created in 1971 through a merger of five local workers' savings banks, the oldest component of STS was the Helsinki branch, founded in 1909. The Turku workers' savings bank was the only one to choose to stay independent. With the merger, STS became the largest savings bank in Finland. The bank went almost bankrupt in 1992 and was sold at a loss to KOP (later Nordea), with the government taking care of much of the bad debt. In 1899, the Finnish Worker's Party (later SDP) decided in its general meeting to establish a bank. The Helsinki TS, was founded in 1908 by Albin Karjalainen, the financial officer of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kari Uoti
Kari or KARI may refer to: Places * Kari, Jhunjhunu, a village in Rajasthan, India * , a village in Mouhoun Province, Burkina Faso *Kari, Tikamgarh, a town in Madhya Pradesh, India *Kari, Iran, a village in Bushehr Province, Iran * Kari-ye Bozorg ("Greater Kari"), a village in Ardabil Province, Iran People and languages *The Gayiri people of central Queensland, Australia * Kari people, also Cari, Aka-Kari or Aka-Cari, a tribe in the Andaman Islands, India **Kari language, also Cari, Aka-Kari or Aka-Cari, spoken by the Kari people *Kari language, a Bantu language spoken in Africa * Kari (name), real and fictional people with the given name, nickname or surname * Kari Suomalainen * Kári, son of Fornjót, the personification of wind in Norse mythology Organisations * KARI (AM), an AM radio station broadcasting on 550, licensed to Blaine, WA * Kenya Agricultural Research Institute * Kleptocracy Asset Recovery Initiative * Korea Aerospace Research Institute Other * Kari or curry, a pa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Junk Bond
In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade by credit rating agencies. These bonds have a higher risk of default or other adverse credit events, but offer higher yields than investment-grade bonds in order to compensate for the increased risk. Default risk As indicated by their lower credit ratings, high-yield debt entails more risk to the investor compared to investment grade bonds. Investors require a greater yield to compensate them for investing in the riskier securities. In the case of high-yield bonds, the risk is largely that of default: the possibility that the issuer will be unable to make scheduled interest and principal payments in a timely manner. The default rate in the high-yield sector of the U.S. bond market has averaged about 5% over the long term. During the liquidity crisis of 1989-90, the default rate was in the 5.6% to 7% range. During the pandemic of 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government-owned Companies Of Finland
State ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community, as opposed to an individual or private party. Public ownership specifically refers to industries selling goods and services to consumers and differs from public goods and government services financed out of a government's general budget. Public ownership can take place at the national, regional, local, or municipal levels of government; or can refer to non-governmental public ownership vested in autonomous public enterprises. Public ownership is one of the three major forms of property ownership, differentiated from private, collective/cooperative, and common ownership. In market-based economies, state-owned assets are often managed and operated as joint-stock corporations with a government owning all or a controlling stake of the company's shares. This form is often referred to as a state-owned en ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
