Draft:Kuntarahoitus

Kuntarahoitus, variously branded Municipal Finance or Municipality Finance or MuniFin in English, is a public financial institution in Finland. Its customers are Finnish municipalities, municipal associations, municipal-owned enterprises, and public-benefit housing companies that engage in state-supported social housing production and are approved by the Housing Finance and Development Centre of Finland (ARA). As of 2023, it had close to €50 billion in total assets.

Overview
Kuntarahoitus was established in 2001 by merger of two predecessor entities, the so-called the old Kuntarahoitus Oy (est. 1990) and Kuntien Asuntoluotto Oyj. As of the mid-2010s, it financed around 80 percent of municipal debt in Finland.

In late 2015, Kuntarahoitus has been designated as a Significant Institution under European Banking Supervision, and has been subsequently supervised by the European Central Bank.

Kuntarahoitus has approximately 284 shareholders, including municipalities, the national pension agency Keva, and the Finnish government. It is mainly funded by securities issuance, for which it benefits from the same rating as the Finnish government thanks to a guarantee provided by the Municipal Guarantee Board (MGB, Kuntien Takauseskus).