A stable, well-functioning financial market for allA stable, well-functioning financial market for allCapital requirements for Swedish banks
2023
FI extends the risk weight floor for Swedish mortgage exposures
FI has decided to extend the risk weight floor by two years, from 31 December 2023 to 30 December 2025.
FI leaves the countercyclical buffer rate unchanged
In accordance with its assessment in the most recent stability report, FI is leaving the countercyclical buffer rate unchanged in the fourth quarter. The buffer rate of 2 per cent, which was applied starting on 22 June 2023, shall thus continue to apply. The countercyclical buffer guide is calculated at 0 per cent.
Aros receives warning and administrative fine
Finansinspektionen has decided that Aros Kapital will receive a warning and an administrative fine of SEK 45 million.
Banking package close to completion
On 6 December, the EU Member States approved a banking package that implements the last parts of the Basel III agreement in the EU. The European Parliament is also expected to approve the agreed rules in the near future.
FI Analysis No. 41: Commercial real estate firms may need to reduce their debt
In this analysis, we estimate how much Swedish listed and larger privately owned commercial real estate firms need to reduce their debt in a climate of rising financing costs and falling property values. We calculate the firms need to reduce their debt to maintain certain levels of interest coverage ratio and loan-to-value.
Stability in the Financial System (2023:2): Adjustments to higher interest rates remain to be made
The higher interest rate means that households and companies need to make adjustments to their finances. Finansinspektionen (FI) is now seeing a decline in risk-taking. However, the change in the state of the economy and uncertainty regarding how long the higher interest rates will remain pose a risk to financial stability. Commercial real estate undertakings with high debt are particularly at risk should the interest rates remain high. These are the conclusions of the second Stability Report of the year.
Capital requirements of Swedish banks as of Q3 2023
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 Q3 2023.
European Commission approves extension of the risk weight floor for Swedish mortgages
The European Commission has announced that it does not intend to object to FI's intention to extend the current risk weight floor for Swedish mortgages. This means that FI may implement the measure.
Protect consumers’ access to payment accounts
Banks restrict consumers’ access to payment accounts more than is necessary to manage money laundering risks. We want to see stricter requirements on banks to make assessments of consumers on an individual basis. Banks should also consider whether they can offer a more limited range of services instead of closing a customer’s account.
FI notifies the EU regarding extension of the existing risk weight floor for Swedish mortgages
FI notifies the EU regarding extension of the existing risk weight floor for Swedish mortgages
FI leaves the countercyclical buffer rate unchanged
In accordance with its assessment in the most recent stability report, FI is leaving the countercyclical buffer rate unchanged. The buffer rate of 2 per cent, which was applied starting on 22 June 2023, shall thus continue to apply. The countercyclical buffer guide is calculated at 0 per cent.
New risk weight floors for bank loans to commercial properties
Finansinspektionen has decided to introduce risk weight floors for exposures towards the commercial real estate sector according to article 458 in CRR. At the same time the current risk weight floor under Pillar 2 will be removed. The new floors will enter into force on 30 September 2023.
Capital requirements of Swedish banks as of Q2 2023
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 2023.
Large Swedish banks show resilience in EU stress test
The five largest Swedish banks are resilient and have the ability to withstand a sharp deterioration in market conditions, based on the stress test conducted by the European Banking Authority (EBA).
Consumer Protection Report 2023
The risks given the highest priority in FI’s consumer protection work for 2023 are unaffordable lending, unsuitable investment products and investment fraud.
European Commission approves introduction of risk weight floors for bank loans to commercial real estate
The European Commission has announced that it does not intend to object to FI's intention to introduce risk weight floors for bank loans to commercial real estate. This means that FI may implement the measure.
Open finance in Sweden
Digitalisation introduces both opportunities and risks to the financial market. After conducting a new survey, FI has noted that broader regulation on how customer data can be shared with third-party providers could make it easier for consumers to compare financial products such as occupational pensions and mortgages.
Report: Banks’ administration of amortisation requirement exemptions
Finansinspektionen has conducted a survey into banks' administration of amortisation requirement exemptions, as an assignment from the government. The survey shows that banks have primarily handled amortisation requirement exemptions well. Banks have improved their procedures for handling exemptions, which have increased due to increased pressure on households' finances and more widespread knowledge within society about the possibility of receiving an exemption. The banks' improved procedures are an adjustment to this change.
Reciprocation of Norwegian systemic risk buffer
Finansinspektionen has reciprocated the Norwegian systemic risk buffer.
Stability in the Financial System (2023:1)
Since the publication of the stability report last autumn, inflation has slowed somewhat in the large economies but is still significantly higher than the central banks’ inflation targets. Monetary policy has therefore been tightened further, and interest rates continued to rise. High inflation and rising interest rates mean that the forecasts for global economic development continue to be weak.
Updated approach to assessing Pillar 2 guidance for Swedish banks
Finansinspektionen has decided on an updated approach for assessing the size of the Pillar 2 guidance for Swedish banks. The updated method contains in part new intervals and an upper limit on how much the outcome of the sensitivity-based stress test can contribute to the final guidance.
Capital requirements of Swedish banks as of Q1 2023
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 2023.
FI notifies the EU regarding the introduction of new risk weight floor for commercial real estate
Finansinspektionen has notified the Commission and the European Systemic Risk Board (ESRB) that it intends to introduce weight floor for commercial real estate in accordance with Article 458 of the CRR. This will replace the current Pillar 2 risk weight floors for exposures secured by commercial real estate. The measure is planned to be effective from 30 September 2023.
FI welcomes inquiry into macroprudential policy
FI has taken several measures since 2010 to reduce the risks associated with households’ high levels of debt. These measures include the amortisation requirements and the mortgage cap. FI welcomes the Government’s announcement today presenting an inquiry to look more closely at how these measures have functioned.
FI proposes update to its approach for assessing Pillar 2 guidance for Swedish banks
Finansinspektionen presents a proposal for an update to its approach for assessing the size of the Pillar 2 guidance for Swedish banks. The proposal entails in part new intervals and an upper limit on how much the outcome of the sensitivity-based stress test can contribute to the final guidance. Comments on the proposal should be submitted to FI no later than 2 May.
Proposal for new risk weight floors for bank loans to commercial properties
FI is proposing to introduce risk weight floors for exposures towards the commercial real estate sector according to article 458 in CRR. At the same time the current risk weight floor under Pillar 2 would be removed. The new floors are proposed to enter into force on 30 September 2023.
FI reciprocates the extension of Norwegian risk weight floors
Finansinspektionen (FI) has passed a decision to reciprocate the Norwegian Ministry of Finance’s decision to extend average risk weight floors of 20 per cent for retail exposures collateralised by real estate in Norway and of 35 per cent for corporate exposures collateralised by real estate in Norway.
Rising interest costs putting pressure on mortgagors
Mortgagors are under pressure from rising interest rates. At the same time, the majority of new mortgagors continue to have good margins in their personal finances. These are the conclusions drawn by Finansinspektionen in this year’s Swedish Mortgage Market report, which is being presented today.
The Swedish Mortgage Market 2023
Mortgagors are under pressure from rising interest rates. At the same time, the majority of new mortgagors continue to have good margins in their personal finances. These are the conclusions drawn by Finansinspektionen in this year’s Swedish Mortgage Market report, which is being presented today.
IMF assessment of the financial sector in Sweden is complete
During 2022, the International Monetary Fund (IMF) carried out a special assessment of the financial sector in Sweden, a so-called FSAP (Financial Sector Assessment Program). FSAPs are conducted regularly for member countries with systemically important financial markets. The most recent FSAP for Sweden by the IMF was in 2016.
Swedbank receives a remark and an administrative fine
Swedbank is being issued a remark and must pay an administrative fine of SEK 850 million.
FI leaves the countercyclical buffer rate unchanged
FI leaves the countercyclical buffer rate unchanged. The buffer rate of 2 per cent, which will be applied as of 22 June 2023, shall thus continue to apply. The countercyclical buffer guide is calculated at 0 per cent.
Swedbank receives a remark and an administrative fine
Swedbank is receiving a remark for the bank’s lack of internal control following a change to a business-critical IT system last year. The bank must also pay an administrative fine of SEK 850 000 000.
Capital requirements of Swedish banks as of Q4 2022
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 Q4 2022.
2022
2022:1 Asylum seekers’ access to financial services
In this document, FI states its position on asylum-seeking refugees’ access to financial services in cases where the asylum seeker is lacking identity documents. The position replaces FI's previous memorandum (FI Ref.16-2898).
FI Analysis No. 39: Are the capital buffers fulfilling their purpose?
The minimum requirement for own funds and eligible liabilities (MREL) is designed in such a way that the banks can breach it before they breach the capital requirements. As a result, this can reduce the usability of the capital buffers. This is shown in FI’s analysis of how the capital buffers are impacted when a bank must meet both MREL and the capital requirements.
FI maintains level of systemic risk buffer for major banks
The three major banks, SEB, Handelsbanken and Swedbank, will continue to maintain a systemic risk buffer of 3 per cent at group level. This decision was made following FI’s biennial review of the systemic risk buffer in accordance with the European Capital Requirements Directive.
Länsförsäkringar Bank is issued a remark and must pay administrative fine
Länsförsäkringar Bank has been deficient in its work to prevent money laundering and terrorist financing. The bank is therefore being issued a remark and must pay an administrative fine of SEK 90 million.
FI leaves the countercyclical buffer rate unchanged
FI leaves the countercyclical buffer rate unchanged. The buffer rate of 2 per cent, which will be applied as of 22 June 2023, shall thus continue to apply. The countercyclical buffer guide is calculated at 0 per cent.
Länsförsäkringar Bank recieves a remark and must pay an administrative fine
Länsförsäkringar Bank has been deficient in its compliance with the anti-money laundering regulations. Finansinspektionen is therefore issuing Länsförsäkringar Bank a remark that will be accompanied by an administrative fine of SEK 90 million.
