Omaisuudenhoitoyhtiö Arsenal

Omaisuudenhoitoyhtiö Arsenal Oy is a corporation founded by the Government of Finland for management of assets. Arsenal was founded after the early 1990s recession in 1993 as a response to the nationalization of failed banks, mainly Säästöpankki and STS. The defaulted debts led to a large amount 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 2003, Arsenal voluntarily started liquidation proceedings, with only 323 debtors and some court cases remaining.

The colloquial Finnish term for such a bad bank, coined in the early 1990s, is roskapankki "junk bank", so called for holding junk bonds and such.