FI has the mandate to set a countercyclical buffer rate. The buffer rate is set today via FI’s regulations (FFFS 2014:33) regarding the countercyclical buffer rate. The guiding principles for determining the buffer rate are described in the memorandum “Finansinspektionen’s approach to setting the countercyclical buffer rate.”
When FI makes the assessment that the rate needs to be changed, new regulations are decided. Prior to such a change, the proposed regulations will be submitted for consultation in the same manner as other regulations and general guidelines.
FI sets the countercyclical buffer rate for Sweden following a qualitative assessment that takes quantitative factors into consideration. An important but non-deciding factor is the countercyclical buffer guide, which is also set by FI. In addition to the buffer guide, FI also considers other quantitative variables that are relevant for assessing the cyclical systemic risks.