Eesti Pank Supervisory Board Meeting
The Eesti Pank Supervisory Board held its regular meeting on Tuesday, where several key topics were discussed. The meeting covered a range of issues, including the work of the round table to counter payment fraud, the end of Deputy Governor Veiko Tali’s term, and the economic forecast for the euro area and Estonia.
Payment Fraud and Round Table Discussion
Rainer Olt, Head of the Eesti Pank Payment and Settlement Systems Department, presented a summary of payment fraud in 2024 and reviewed the work of the round table to counter payment fraud. The round table has recently started its work, and its efforts are crucial in combating payment fraud and ensuring the security of financial transactions.
End of Deputy Governor Veiko Tali’s Term
The Supervisory Board acknowledged the end of Deputy Governor Veiko Tali’s five-year term, which concludes at the end of December. To recognize his contributions to the central bank, the Board decided to award him a bonus of two months’ pay. During his term, Tali worked to improve crisis readiness in the financial sector, make financial supervision more efficient, and chaired the Estonian Payment Forum. He also played an active role in developing the digital euro in the high-level working group of the European Central Bank.
Economic Forecast and Review
Governor Madis Müller provided the Board with a regular review of the economy in the euro area and Estonia. Additionally, Deputy Governor Ülo Kaasik presented the economic forecast of the bank, which is currently being written and will be published on December 19. The forecast will provide valuable insights into the economic trends and outlook for the region.
Working Schedule and Budget
The Supervisory Board confirmed its working schedule for 2026 and extended the working schedule of the internal audit for next year. The Board also received a review of the planned budget of the central bank for 2026, which will be approved by the Executive Board in the second half of December.
Conclusion
The Eesti Pank Supervisory Board meeting covered a range of important topics, from payment fraud and economic forecasts to the end of Deputy Governor Veiko Tali’s term. The Board’s discussions and decisions will have a significant impact on the financial sector and the economy in Estonia and the euro area. As the central bank continues to work towards improving financial stability and security, its efforts will be closely watched by stakeholders and the public alike. The next meeting of the Eesti Pank Supervisory Board is scheduled for January 27.
