A service is vital if an interruption to it would cause an immediate threat to life or health, the functioning of society, or the supply of some other essential or generally necessary services. Payment services and cash circulation are considered vital services, hence the banks listed have to be able to ensure a certain level of cash and payment services even in the case of a crisis or emergency situations, like a cyberattack, terrorist attack or public disorder, the Bank of Estonia said.

The addition of LHV Pank to the list will further improve the resilience of the Estonian financial system to crises. The Bank of Estonia has drawn up plans with providers to prevent crises and reinstate services after an interruption.

Companies in other critical sectors as well as state institutions like the Police and Border Guard Board (PPA) and the Rescue Board are also involved, the bank said.

The list of providers of vital services is reviewed at least once a year. Banks are added if at least 3.5% of all payments or card payments in the country are made through them. The amount of deposits they hold and statistics on the cash they issue are also taken into consideration.