Due to the current situation with the ongoing spread of the coronavirus, Finansinspektionen has postponed the deadline for the annual reporting on money laundering and financing of terrorism. The deadline has been pushed forward from 31 March 2020 to 30 April 2020.
In relation to the report published by the European Banking Authority (EBA) in August Finansinspektionen would like to make the following clarification on the impact for Swedish banks of the revised Basel standards. According to Finansinspektionen’s calculation, the increase in tier 1 minimum required capital would be about 30 per cent instead of 53 per cent as shown in the report from the EBA (keeping the assumptions and methodology set by EBA, but taking into account the current Swedish mortgage floor for the current risk-weighted assets).
FI is publishing a Q&A on new rules that will go into effect on 14 September.
The major Swedish banks are resilient and have the ability to withstand a sharp deterioration in the market, according to the stress test conducted by the European Banking Authority (EBA).
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.
The ESRB and the EBA have submitted their Opinions to the European Council, the European Commission and Finansinspektionen regarding Finansinspektionen's intention to change its method for the application of the current risk weight floor for Swedish mortgages.
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.
The regulatory and supervisory frameworks for banks’ internal rating based (IRB) approaches will be significantly adjusted over the coming years. The overall objective is to increase the robustness of capital requirements and ensure consistency across banks. Well-functioning IRB models are key to the capital assessment of the larger Swedish banks and hence a supervisory priority for FI.
FI has updated its supervision categorisation of Swedish credit institutions for 2017. Two credit institutions have changed category.
The major Swedish banks have resilience against a sharp deterioration of the economic environment. This is the result of an EU-wide stress test performed by the European Banking Authority (EBA).