Reciprocation of Norwegian systemic risk buffer

FI has reciprocated the Norwegian Ministry of Finance decision to maintain a 4.5 percent systemic risk buffer for exposures in Norway. The decision applies to Swedish institutions' exposures in Norway.

In accordance with the new threshold set by the Norwegian Ministry of Finance the decision applies to Swedish institutions where said exposures' risk exposure amount exceed 5 billion Norwegian kroners. At present this means that the buffer will besides from Svenska Handelsbanken AB and Skandinaviska Enskilda Banken AB (that were effected also in relation to the earlier threshold), also apply to Swedbank AB, Nordax Bank AB and Resurs Bank AB on group level. For companies that are already covered by the 3 percent Swedish systemic risk buffer (decided by Finansinspektionen according to Chapter 4, section 1 in the Capital Buffers Act) it implies that their systemic risk buffer requirement for Norwegian exposures will increase by 1.5 percent.

The decision will apply from the 30 of June 2023 for institutions using the advanced internal risk classification method and from the 31 of December 2023 for institutions not using the advanced internal risk classification method.