During the month of July, FI sent notification letters to SEB and Swedbank as part of the investigations into the banks’ management and control of money laundering risks in Estonia, Latvia and Lithuania.
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 Q2 2019.
Eric Leijonram named Chief Legal Counsel at Finansinspektionen.
FI’s Director General Erik Thedéen was reappointed to the Management Board of the European Securities and Markets Authority (ESMA) for a further 2½ year term.
Finansinspektionen (FI) decided on 5 July not to change the countercyclical buffer rate. The buffer rate of 2.5 per cent, which will be applied as of 19 September 2019, shall thus continue to apply. The countercyclical buffer guide is set at 0.04 per cent.
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 2019.
Heads of the Nordic and Baltic financial supervisors met today in Stockholm. They agreed on measures to enhance the cooperation between the authorities with the aim of fighting money laundering and terrorist financing.
Finansinspektionen (FI) decided on 6 May not to change the countercyclical buffer rate. The buffer rate of 2.5 per cent, which will be applied as of 19 September 2019, shall thus continue to apply. The countercyclical buffer guide is set at 0.15 per cent.
FI sends verification letters at an early stage of its investigation process, and the aim of this letter is to verify the facts of the case. Verification letters may at times also include preliminary assessments, but these assessments assume that the information FI received is correct and has been understood correctly.
On Wednesday, 29 April 2019, the test environment of TRS2 will be closed and not available due to an upgrade to a new version of the system. Finansinspektionen will announce when the system is available again.
Over the past few weeks, the media has reported on potentially major problems related to money laundering primarily in Swedbank’s Estonian operations. These reports have caused the bank’s share price to fall and had a negative impact on the bank’s reputation.
FI has received a copy of Swedbank’s external review that was initiated by reports in the media of suspected money laundering in the Baltics.
FI confirms that it received a report from Swedbank on 1 March regarding suspected money laundering.
In this memorandum, Finansinspektionen (FI) develops its view on several specific areas of the EU regulatory framework for liquidity regulation.
SVT’s investigative journalism program Uppdrag Granskning has reported on certain transactions that occurred through Swedbank’s operations in the Baltics.
Finansinspektionen publishes the capital requirements of the largest Swedish banks and credit institutions that belong to the supervisory categories 1 and 2 as of the end of the fourth quarter 2018.
Due to the reports in the media regarding suspected money laundering in Swedbank’s Estonian operations, FI is issuing the following comments.
Eesti Finantsinspektioon (the Estonian FSA) and Finansinspektionen (the Swedish FSA) consider the reports regarding suspected money laundering that yesterday were made public yesterday on Swedish television (SVT) to be very serious. It is extremely important that the banks’ senior management and boards of directors view these matters seriously and take all necessary actions to ensure compliance with laws and regulations.
FI considers the disclosures regarding suspected money laundering presented by SVT’s program Uppdrag Granskning to be very serious. FI’s Director General Erik Thedéen has made the assessment in several interviews in conjunction with the events in Danske Bank that the possibility of Swedish banks being involved in money laundering cannot be ruled out entirely, but that the scope is most likely more narrow than what has been identified in Danske Bank.
We consider the recent disclosures regarding money laundering and other regulatory infringements in Swedish banks to be very serious. It is extremely important for the banks' management teams and boards of directors to take these matters seriously and ensure that the banks are following the laws and regulations.
On Wednesday, 20 February, the TRS 2 system will not be available at the beginning of the day due to a service window. The system is planned to reopen after 4 p.m.
The European Securities and Markets Authority (ESMA) has announced that the transition to the new XML Schema and updated validation rules will not occur on Monday, 18 February 2019, as earlier planned. It will now be postponed until Q3 2019.
FI would like to clarify which decisions FI has made, which decisions were appealed and which rulings the courts announced with regard to a number of investigations into money laundering at Swedish banks.
The Nordic and Baltic financial stability authorities have conducted a joint financial crisis management exercise. The exercise was held from 22 to 23 January 2019 and involved 31 authorities from Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden as well as relevant European Union authorities. A staff member of the International Monetary Fund observed the simulation.
Finansinspektionen (FI) decided on 30 January not to change the countercyclical buffer rate. The buffer rate of 2.5 per cent, which will be applied as of 19 September 2019, shall thus continue to apply. The countercyclical buffer guide is set at 0.29 per cent.
The newspaper Svenska Dagbladet previously appealed FI’s decisions regarding drafts of assessments in investigation matters. The Administrative Court of Appeal of Stockholm announced its ruling in the case today. The Administrative Court of Appeal upholds FI’s decision and thus rejects Svenska Dagbladet’s appeal.
Finansinspektionen (FI) is encouraging institutions that apply the IRB approach to analyse their rating systems to ensure that these systems meet forthcoming new requirements. Under the new requirements, Swedish institutions will need to change their rating methods. Such changes require FI’s approval.
FI is continuing to analyse the event that occurred in September 2018 when a member on the commodity market was declared in default. We describe here several of the issues that FI is currently analysing. We are also publishing a discussion paper that FI wrote to contribute to an ongoing international discussion on auctions as a method to manage a default in a central counterparty.
At the moment, Friday, 7 December, the TRS 2 system is unable to create FD files (daily feedback).