Result

2018

Consequences of Brexit for the Swedish financial market

Brexit will become a reality when the UK leaves the EU on 29 March 2019. This will change conditions for cross-border trade in financial services to and from the UK. FI describes in this report its analysis of a number of significant economic and legal aspects related to Brexit. In order to streamline its analysis, FI assumes a scenario in which the UK leaves the EU without the future relationship between them clearly defined and the UK becomes a third country among others (a hard Brexit).

Stability in the Financial System

The Swedish economy continues to be strong, and resilience in the financial system is satisfactory. However, a long period of low interest rates and strong growth has resulted in an elevated risk appetite, high asset prices and high debt globally, among Swedish households and on the commercial real estate market. The high level of indebtedness makes the financial sector more sensitive to shocks, and, if necessary, FI will take additional measures to strengthen the resilience.

Risks can build up when the economy is strong

The Swedish economy continues to be strong, and resilience in the financial system is satisfactory. However, a long period of low interest rates and strong growth has resulted in an elevated risk appetite, high asset prices and high debt. This makes the financial sector more sensitive to shocks, writes Finansinspektionen (FI) in the first Stability Report of the year, which is being presented today.

FI Supervision 2: Audit supervision of public-interest entities

Pursuant to the Supervision of Public-Interest Entities (Audit) Act (2016:429), FI is responsible for conducting certain audit supervision activities. FI has conducted an investigation into this supervisory area in 2017. This report provides an overview of the investigation’s results and describes FI’s view on how the regulations can be applied.

FI Supervision 1: Experiences from money laundering supervision 2016–2017

It is FI’s assessment that firms in general have a greater awareness of the regulations than in previous investigations and are committing more resources to their work to prevent money laundering. But more needs to be done.

FI updates information about periodic reporting required by the Anti-Money Laundering Act

FI has updated the instructions and FAQs about the periodic reporting firms under Finansinspektionen’s supervision are required to file according to the Anti-Money Laundering Act.

Videos about anti-money laundering now in English

FI has translated into English its educational videos about efforts to combat money laundering and terrorist financing.

New Nordic-Baltic Memorandum of Understanding

The Swedish Ministry of Finance, the Riksbank, Finansinspektionen (the Swedish Financial Supervisory Authority) and the Swedish National Debt Office in its role as resolution authority, have produced, together with their equivalents in Denmark, Estonia, Finland, Iceland, Latvia, Lithuania and Norway a new Memorandum of Understanding on cooperation and coordination on cross-border financial stability.

First meeting of the Network for Greening the Financial System

2018-01-29 | News Markets Insurance

The international Network for Greening the Financial System (NGFS) held its inaugural meeting in Paris last week.

Financial stability and macroprudential policy

Finansinspektionens Director General Erik Thedéens speech in the Standing Committee on Finance the 23 januari 2018.

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