Finansinspektionen is granting Euroclear Sweden AB authorisation to act as a central securities depository under Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories (CSDR).
FI presents its view on the specific requirements for liquidity coverage ratios in individual currencies. The authority also provides its interpretation of the diversification requirement on the liquidity buffer’s composition for Swedish covered bonds. FI will apply this approach to its supervision of banks belonging to Supervision Categories 1 and 2 on 1 October 2019.
FI has analysed the commercial real estate market and makes the assessment that it is vulnerable to shocks.
“We are taking the initiative to strengthen our international supervisory collaboration against money laundering and we are redistributing our own resources to increase our supervision capacity,” says FI’s Director General Erik Thedéen after today’s meeting with Minister for Financial Markets and Housing Per Bolund.
In Sweden, the traditional bank-based financing model for issuing and financing mortgages is currently being supplemented by models where mortgages are being financed in new ways, e.g. alternative investment funds (AIF).
FI has conducted a number of supervision activities related to sustainability at the same time as the organisation has been partly restructured and received additional resources. During the year, FI's work has focused on integrating sustainability-related matters into its ongoing supervision, a project that will continue and be intensified.
Finansinspektionen grants Nordea Bank AB authorisationto execute the merger plan prepared with its subsidiary, Nordea Bank Abp, under which Nordea Bank AB is absorbed by NordeaBank Abp.
FI’s Board of Directors decides to change the method used to apply the current risk weight floor for Swedish mortgages through Pillar 2 by replacing it with a corresponding requirement under Article 458 of the Capital Requirements Regulation. The change will enter into force on 31 December 2018.
The European Commission has decided not to propose to the European Council a rejection of Finansinspektionen’s proposal to change the method for the application of the current risk weight floor for Swedish mortgages. This means that the measure may be implemented in Sweden.
Sweden’s traditional bank-based model for granting and financing mortgage loans is challenged by new firms with alternative financing models.
Finansinspektionen has notified the European Parliament, the EU Council, the European Commission, the ESRB and EBA on the intended measure to change the method for the application of the risk weight floor for Swedish mortgages under Article 458 of the CRR.
Finansinspektionen considers it to be necessary to implement a back-stop within Pillar 2 to limit effects on the total credit supply from systemically critical securitisation. FI is publishing today a method that it intends to use during its capital requirements assessment.
Finansinspektionen (FI) works to ensure that the financial system is stable and characterised by high confidence. It should also have well-functioning markets that meet the needs for financial services while at the same time ensuring a high level of protection for consumers. This requires stable financial firms, clear information for consumers and consideration for consumers' needs and circumstances when developing and selling products.
It is likely that automated services will play a greater role on the financial market. Finansinspektionen (FI) views an online market with simplified investment advice as a step in the right direction in terms of achieving an independent market for investment advice that reaches a wide number of consumers.
Nordea Bank AB has applied for authorisation to execute three merger plans. The mergers refer to the absorption of three wholly-owned subsidiaries that conduct banking and securities business respectively in Denmark, Finland and Norway.
In this report, Finansinspektionen, Sveriges Riksbank and the Swedish National Debt Office present a general description of the driving forces behind the rise in household indebtedness. A central conclusion in the report is that indebtedness is largely linked to developments on the housing market.
Household debt does not represent a risk to financial stability, but it does increase the macroeconomic risks. If designed to be flexible, an amortisation requirement could reduce these risks.
New mortgage holders are more likely to amortise after the banks introduced individually tailored amortisation plans as of 1 July 2014. The ongoing debate in the media about amortisation and that the Swedish Bankers’ Association has tightened its recommendations regarding amortisation may also have contributed to the increase in amortisation payments.
FI makes the assessment that the risks associated with household debt have not yet reached alarming levels. However, there are also macroeconomic risks associated with rising household indebtedness.
FI makes the assessment that an amortisation requirement that is applied in a flexible manner will strengthen in the long run household resilience to shocks. An amortisation requirement will keep house prices down and slow the rate at which debt is growing, and higher amortisation payments will help households reduce their debts and thus their interest expenses.
Finansinspektionen presents positions to ensure that the Swedish banking system stands more robustly equipped to withstand future financial crises.
Finansinspektionen has decided to approve the reorganisation of Sparbanken 1826.
Finansinspektionen grants Nasdaq OMX Clearing authorisation to act as a central counterparty in accordance with the EU’s regulation regarding OTC derivatives, central counterparties and transaction registers (EMIR).
FI is implementing a risk weight floor of 15 per cent for Swedish mortgages. The floor will be implemented as a supervisory measure within Pillar 2.
Finansinspektionen finds that guidelines from the European supervisory authorities addressed to competent authorities or financial market participants are equivalent to Swedish general guidelines.