Finansinspektionen was late with its publication of a short-selling notification from Coatue Management.
The European Securities and Markets Authority (ESMA) has published instructions on how to access the reference data that is covered by the MAR and MiFID II/MiFIR regulations. The EU authority has also published current reference data that is available for download.
FI:s director general Erik Thedéens speech about commercial real estate and financial stability held at the conference DI Bank in Stockholm 10 maj 2017.
The financial crisis in 2008-09 demonstrated just how vulnerable the international financial system was and had enormous consequences for the economies in the western hemisphere. Even if traditional stabilisation policy tools, such as monetary and fiscal policy, were able to mitigate the crisis, they did not successfully prevent the build-up of risk that occurred over a long period of time prior to the crisis. The crisis therefore triggered the development of macroprudential policy, which aims to reduce the risk of financial crises and their subsequent effects.” It is with these words that Erik Thedéen began his speech at Finansdagen in Stockholm.
Nordea passed a decision today to move its head office to Helsinki. The bank represents a large part of the Swedish financial market, but it is too early to say how the decision will impact Finansinspektionen’s supervision.
Erik Thedéen, FI's Director General, speech at the UBS conference: 20th Annual Nordic Financial Services Conference in Stockholm.
Erik Thedéen, FI's Director General, took part in a panel discussion arranged by Alecta today entitled Incentives for significant allocation of long term capital towards investments for a resilient and sustainable society. Erik Thedéen talked about sustainability work within the financial sector.
Finansinspektionen publishes the capital requirements of the ten largest Swedish banks and credit institutions as of the end of the second quarter 2017.
FI decided on 14 July not to change the countercyclical buffer rate. The buffer rate of two per cent, which has applied since 19 March 2017, shall thus continue to apply.
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) has found that SEB has reported transactions improperly and that there have been deficiencies in the internal control of transaction reporting. SEB is therefore being issued a remark and must pay an administrative fine of SEK 12 million.
Finansinspektionen has responded to the Commission Consultation Document on FinTech: A more competitive and innovative European Financial Sector.
Erik Thedéen visited the Committee on Finance today for a Q&A session. He discussed the unprecedented economic conditions that Sweden is currently experiencing.
The Swedish economy is thriving, but a strong economy combined with low interestrates has resulted in high asset prices and rapidly rising household debt.
Households with high loan-to-income ratios, i.e. large loans in relation to income, are vulnerable. They are sensitive to rising interest rates since their monthly expenses are affected more than households with lower loan-to-income ratios. They are also somewhat more sensitive to a loss of income, for example if they become unemployed.
Finansinspektionen’s report, Stability in the Financial System, shows that the high level of household debt and rising house prices are causing vulnerabilities to build up in the Swedish economy. FI therefore would like to introduce a stricter amortisation requirement for new mortgage holders who take large loans in relation to their income.
Finansinspektionen publishes the capital requirements of the ten largest Swedish banks and credit institutions as of the end of the first quarter 2017.
A new webpage is now available with information about the transaction reporting required under MiFID 2/MiFIR.
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.
Over-indebtedness is at the top of the agenda at FI’s Consumer Protection Day, which is being held today, Thursday, 11 May. FI will also present its annual report, Consumer Protection on the Financial Market, which includes a review of the areas that FI is prioritising in terms of consumer protection supervision.
Finansinspektionen (FI) presents in this report the risks consumers are facing on the financial market and that FI is prioritising in its supervision. One example is the risk that consumers will be granted larger loans than what their personal finances allow.
The design of the Swedish regulations for capital adequacy and crisis management is appropriate for reducing the risk of financial crises and ensuring effective management if a crisis were still to occur. This is the conclusion reached by Finansinspektionen (FI) and the Swedish National Debt Office in a joint report. The report emphasises that Sweden should safeguard national discretions in the framework of banking requirements in ongoing EU negotiations.
FI decided on 27 April not to change the countercyclical buffer rate. The buffer rate of two per cent, which has applied since 19 March 2017, shall thus continue to apply.
FI has updated its supervision categorisation of Swedish credit institutions for 2017. Two credit institutions have changed category.
A feasibility study conducted by Finansinspektionen in collaboration with Mälardalen University has determined that it is possible to teach preschool children about money and finances. Small children are happy to talk about money, but preschool teachers are not experienced in talking to them about personal finances.
On Thursday, 11 May, it is once again time for FI’s Consumer Protection Day. Director General Erik Thedéen and Executive Director Malin Omberg will present FI’s work with consumer protection on the financial market. The agenda includes a discussion surrounding over-indebtedness and the measures available to counteract such a development. The moderator is Willy Silberstein. Please note that the programme will be held in Swedish.
Erik Thedéen is commenting today on the EU Commission’s proposed changes to banking regulations during a Q&A session in Brussels in EU Parliament’s Committee on Economic and Monetary Affairs (ECON).
This year’s supervision report describes, at an overarching level, the Swedish banking system, how FI works with supervision and a number of topical risk areas currently in focus.
This FI Analysis shows that the amortisation requirement has helped households with new mortgages change their behavior. New mortgagors are taking smaller mortgages than what they would have done if FI had not implemented the amortisation requirement. These households are also buying less expensive homes.
Household debt is a crucial matter which FI monitors closely, and the mortgage survey is an important part of this work. Household debt has increased sharply in recent years. During the same period, mortgage rates have fallen and are now at historically low levels, and house prices have also risen rapidly. Finansinspektionen (FI) judges there to be an elevated risk that house prices will fall compared to a normal state, and it is more likely that interest rates will rise than that they will fall.