A stable, well-functioning financial market for allA stable, well-functioning financial market for allNews & Published Material
Here you can find everything that has been published in different news lists on www.fi.se.
2024
AIFMD reports will be moved to FIDAC
Starting with the reference date 2024-09-30 (Q3), the alternative investment fund reporting concerning fund managers (AIFM) and their underlying funds (AIF), must be submitted in the FIDAC reporting system.
FI identifies transition risks in banks’ lending portfolios
There are climate-related transition risks in Swedish banks’ lending portfolios. This is the conclusion of an analysis Finansinspektionen (FI) conducted by linking lending to individual firms to emissions data from firms that are included in the EU Emissions Trading System.
Fraud prevention in payment services
Fraud is a major and expanding societal problem that fosters organised crime. FI supervises that payment service providers follow the provisions set out in the Payment Services Act that aim to prevent fraud. Payment service providers do a lot to prevent their payments services from being used for fraud, but this problem is still growing.
Interest rate puts pressure on indebted households
Households continue to be under pressure from both higher interest rates and other costs. This is evident in FI’s mortgage report. The report looks at new mortgagors during the autumn of 2023. We can see that there are fewer mortgagors than in previous years. Home buyers also bought slightly less expensive homes and borrowed slightly less. Total lending to households has stagnated, but despite this household indebtedness continues to be high.
FI intends to extend banks’ risk weights floors for mortgages and commercial real estate lending
Finansinpektionen currently assesses that risks to Swedish mortgages and commercial properties remain and these will not be fully addressed when the EU’s second banking package enters into force on 1 January 2025. Therefore, FI intends to start the process during next year to extend the risk weight floors for mortgages and commercial real estate lending to at least 2027.
FI Analysis 45: High risks in small and mid-sized commercial real estate firms
Many smaller, unlisted commercial real estate (CRE) firms have a high loan-to-value (LTV) ratio and a low interest coverage ratio (ICR). This makes them vulnerable to a scenario with high interest rates and lower earnings. A new FI Analysis concludes that, given such a scenario, smaller CRE firms would constitute the majority of banks’ real estate sector-related credit risks.
Stability in the Financial System (2024:1): A slightly better outlook in an uncertain environment
The outlook for financial stability has improved somewhat, and uncertainty has decreased, but we are still in the middle of a recession. Higher costs for both interest payments and other goods and services are putting pressure on households and firms. The worsened global security situation is also imposing increased demands on the operational resilience in the financial sectorn. These are the conclusions of this year's first stability report.
Capital requirements of Swedish banks as of Q1 2024
Finansinspektionen publishes the capital requirements of the largest Swedish banks and credit institutions that belong to supervisory categories 1 and 2 as of the end of Q1 2024
FI Analysis No. 44: Most People Have Lost Money Trading Cryptocertificates
More than half of Swedes who traded in cryptocertificates over the past six years have lost money on their investments. This is despite the underlying market increasing by up to 500 percent during the studied period. This is shown in a new analysis by FI that examines Swedes' trading in cryptocertificates.
FI would like the financial market to shift its sustainability work into the next gear
There is a lot of work left to do before the financial market fully contributes to a sustainable economy. For example, firms need to be better at identifying and integrating sustainability risks. One condition for this is that they have the right competence in sustainability-related matters. Firms also are responsible for preventing their operations from being used for criminal purposes. These are several of the conclusions we draw in our sustainability report that is being published today.
Four reasons not to buy cryptoassets
Right now, the media is filled with reporting on cryptoassets, and various investment tips are being shared on social media. Even though regulations for the cryptomarket are under development, it will continue to be very risky for consumers to invest in crypto. We have listed four reasons not to invest in them.
FI notifies foreign supervisory authorities after complaints about misleading advice
FI has been receiving complaints from consumers in Sweden about four foreign investment firms. The foreign supervisory authorities who are responsible for the supervision of these companies have been notified about the complaints.
Firms continue to offer consumers unsuitable products
Expensive and complex products are unsuitable for most consumers. Despite this, firms offer such products on a broad front. This is one of the consumer risks that FI highlights in this year’s consumer protection report.
Daniel Barr: “We must continue to develop the work to combat money laundering”
The criminal economy feeds organised crime and introduces major challenges for society. Both firms and authorities therefore need to do more to reverse the development. The collaboration today between both authorities and firms needs to be developed and deepened. There also needs to be suitable tools to manage the cross-border risks associated with money laundering, particularly for cash-intensive businesses. These were some of the key points from Finansinspektionen’s Director General Daniel Barr as he participated in a panel discussion at Anti-Money Laundering Days 2024 (Penningtvättsdagarna).
Beatrice Ask new chair of the Board of FI
Beatrice Ask has joined and will be the chair of FI’s Board of Directors. The appointment runs until 24 April 2027.
FI prioritizes particularly vulnerable sectors to combat money laundering
Money laundering is a global problem that allows criminals to transact large sums of money without revealing their illegal activities. In order to counteract the risk of money laundering, FI has identified a number of areas where the risks are assessed to be particularly large and that we will have an extra focus on during the year.
FI Supervision 29: Advisors are not taking customers’ sustainability preferences into account
Six out of ten say that sustainability is important when saving money. Advisors at banks, investment firms and insurance intermediaries have an obligation to take into account consumers’ sustainability preferences. This does not always happen. Instead, many consumers currently face a risk of investing in products that do not correspond to their expectations when it comes to sustainability. This is the conclusion FI draws from its analysis, and we are now encouraging firms to devote a special focus to this topic.
FI Analysis No. 42: Gender differences in investment behaviour
The study confirms previous results showing that women are underrepresented in the stock market. The differences arise as early as three years of age, which shows that adults more often buy stocks for boys than for girls. We also see that men generally have larger stock portfolios than women throughout life, although women increase their stock wealth later in life.
FI leaves the countercyclical buffer rate unchanged
In accordance with its assessment in the most recent stability report, FI is leaving the countercyclical buffer rate unchanged in the first quarter. The buffer rate of 2 per cent, which was applied starting on 22 June 2023, shall thus continue to apply. The countercyclical buffer guide is calculated at 0 per cent.
2024:1 Loan-to-value ratio for loans granted against collateral in residential property and included in the cover pool for covered bonds
2024-03-11 | Bank
In this legal position, Finansinspektionen considers the matter of whether the cover pool for covered bonds issued prior to 8 July 2022 may consist of loans granted against collateral in residential properties to the extent that the credit in relation to the collateral lies within the loan-to-value ratio of 80 per cent.
Capital requirements of Swedish banks as of Q4 2023
Finansinspektionen publishes the capital requirements of the largest Swedish banks and credit institutions that belong to supervisory categories 1 and 2 as of the end of Q4 2023.
Comprehensive overview is important when changing the conditions on the housing market
FI has received an assignment from the Government to assess an increase in the loan-to-value (LTV) cap from 85 to 90 percent. At the same time, the Government proposes phasing out the tax deductibility for unsecured loans. We assess that an increase in the LTV cap would lead to higher household indebtedness and an increase in associated risks. This assessment holds even if interest rate deductions for unsecured loans are phased out. We also take the position that it is appropriate to await the results of the ongoing inquiry into both the LTV cap and the amortisation requirement and consider any changes to the measures comprehensively.
Marie Lindström new communications director
FI has named Marie Lindström its new communications director.
Our supervision priorities for 2024
Are consumers being offered the right services on the financial market? How is the sector delivering crucial services in an uncertain global environment? How are financial corporations protecting themselves from being used for criminal purposes? These are some of the questions we will focus on in our supervision this year.
Jon Thor Sturluson new chief economist at FI
FI has named Jon Thor Sturluson its new chief economist. He will take over the role no later than 1 May 2024 and join FI’s management team.
Moa Langemark is FI’s new consumer protection economist
A clear and independent voice is needed to help consumers on the financial market. Moa Langemark will now take on the role of consumer protection economist at Finansinspektionen. She will undertake overall responsibility for supporting and developing our consumer protection work. Together with Director General Daniel Barr, Moa will also be FI’s spokesperson in consumer protection-related matters.
TRS 2 system closed 10 January
The TRS 2 system will be closed for maintenance on 10 January 2024.
2023
FI Analysis No. 43: d-SRI: A systemic risk indicator for Sweden
In this FI-analysis we adapt the systemic risk indicator d-SRI to Swedish conditions. d-SRI is intended to give an early warning signal before crises caused by domestic imbalances arise. d-SRI indicates build-up of risks during the years leading up to the crisis in the 1990s, the 2000 dot-com crash, and the 2008 financial crisis. In present time when we see reduced credit growth and lower asset prices, d-SRI is showing that financial conditions are tight.
FI extends the risk weight floor for Swedish mortgage exposures
FI has decided to extend the risk weight floor by two years, from 31 December 2023 to 30 December 2025.
FI leaves the countercyclical buffer rate unchanged
In accordance with its assessment in the most recent stability report, FI is leaving the countercyclical buffer rate unchanged in the fourth quarter. The buffer rate of 2 per cent, which was applied starting on 22 June 2023, shall thus continue to apply. The countercyclical buffer guide is calculated at 0 per cent.
