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EUR 412.5 mln in Estonia’s stabilization reserve

 

The market value of the Estonian stabilization reserve was 412.5 million euros at the end of June.

The press office of the government informed that the reserve has increased by 800,000 euros compared with the end of the previous quarter.

1.1 million euros was paid into the reserve during the second quarter of 2018, most of which was made up by the 2017 profit distribution of the Bank of Estonia.

Payments worth altogether 7.9 million euros were made to the reserve during 2017, most of which was made up by the 2016 profit distribution of the central bank.

According to law, the reserve can be used for mitigating general economic risks and alleviating crises, solving states of emergency, states of war or other emergency situations.

The reserve can also be used for solving and preventing financial crises of financial institutions caused by liquidity or solvency related difficulties or significant failures in the payment or funds transfer systems.

 

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