The TRS 2 system will be closed for maintenance Thursday, 7 November 2024.
The TRS 2 system will be closed for maintenance from Friday, 4 October 2024, until Monday, 7 October 2024, due to a change of certificate at ESMA.
To test the preparedness for a potential crisis situation, authorities from the Nordic-Baltic countries responsible for financial stability during this week conducted a financial crisis simulation exercise in the Nordic-Baltic region, involving three fictitious banks with cross-border activities.
In accordance with its assessment in the most recent stability report, FI is leaving the countercyclical buffer rate unchanged in the third 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.
Starting with the reference date 2024-09-30 (Q3), the alternative investment fund reporting concerning managers (AIFM), their underlying funds (AIF) and Internalised Settlement Reporting article 9, must be submitted in the FIDAC reporting system.
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 2024.
Emilia Högquist is FI's new head of sustainable finance. She has worked extensively with sustainable development and comes to FI most recently from a management position at the Ministry of Climate and Enterprise. As the head of sustainable finance she will be FI's spokesperson in sustainability-reated matters.
Finansinspektionen has passed decisions concerning reciprocation of macroprudential measures in Denmark, Portugal, Germany and Italy.
Eric Leijonram is leaving FI and his role as head legal counsel to become the director general of the Swedish Authority for Privacy Protection.
The Government has appointed Martin Flodén and Roine Vestman, both professors in economics at Stockholm University, to FI’s Board of Directors.
In accordance with its assessment in the most recent stability report, FI is leaving the countercyclical buffer rate unchanged in the second 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.
The Government has appointed former Auditor General Stefan Lundgren to FI’s Board of Directors.
Starting with the reference date 2024-09-30 (Q3), the alternative investment fund reporting concerning fund managers (AIFM) and their underlying funds (AIF), must be submitted in the FIDAC reporting system.
Finansinpektionen currently assesses that risks to Swedish mortgages and commercial properties remain and these will not be fully addressed when the EU’s second banking package enters into force on 1 January 2025. Therefore, FI intends to start the process during next year to extend the risk weight floors for mortgages and commercial real estate lending to at least 2027.
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 2024
Right now, the media is filled with reporting on cryptoassets, and various investment tips are being shared on social media. Even though regulations for the cryptomarket are under development, it will continue to be very risky for consumers to invest in crypto. We have listed four reasons not to invest in them.
FI has been receiving complaints from consumers in Sweden about four foreign investment firms. The foreign supervisory authorities who are responsible for the supervision of these companies have been notified about the complaints.
The criminal economy feeds organised crime and introduces major challenges for society. Both firms and authorities therefore need to do more to reverse the development. The collaboration today between both authorities and firms needs to be developed and deepened. There also needs to be suitable tools to manage the cross-border risks associated with money laundering, particularly for cash-intensive businesses. These were some of the key points from Finansinspektionen’s Director General Daniel Barr as he participated in a panel discussion at Anti-Money Laundering Days 2024 (Penningtvättsdagarna).
Beatrice Ask has joined and will be the chair of FI’s Board of Directors. The appointment runs until 24 April 2027.
In accordance with its assessment in the most recent stability report, FI is leaving the countercyclical buffer rate unchanged in the first 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.
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 2023.
FI has named Marie Lindström its new communications director.
Are consumers being offered the right services on the financial market? How is the sector delivering crucial services in an uncertain global environment? How are financial corporations protecting themselves from being used for criminal purposes? These are some of the questions we will focus on in our supervision this year.
FI has named Jon Thor Sturluson its new chief economist. He will take over the role no later than 1 May 2024 and join FI’s management team.
A clear and independent voice is needed to help consumers on the financial market. Moa Langemark will now take on the role of consumer protection economist at Finansinspektionen. She will undertake overall responsibility for supporting and developing our consumer protection work. Together with Director General Daniel Barr, Moa will also be FI’s spokesperson in consumer protection-related matters.
The TRS 2 system will be closed for maintenance on 10 January 2024.
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.
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.
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.
Today, almost all households invest in funds, either directly through private savings or indirectly through our pensions. However, close to one third of fund savers are unaware of how high the fund fee is and many risk paying too much for their savings. We are, therefore, now publishing the most common fees for some popular fund categories to help consumers monitor what certain funds cost.
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.
It has become increasingly common for fraudsters to contact consumers by email saying there are cryptocurrencies registered at the person's email address. Consumers are told that these assets can be released for a fee. This is the conclusion of Finansinspektionen’s review of investment fraud cases during the third quarter of the year.
TRS 2 system closed on Wednesday, 27 September.
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.
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.
The TRS 2 system's test environment will be closed for maintenance on Wednesday, 6 September.
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.
Last year, Finansinspektionen (FI) published a record number of warnings of firms suspected of investment fraud. The trend continues. During the first half of 2023, the number of warnings increased by nine per cent compared to the same period last year.
Henrik Braconier is the new executive director of Banking. For the past nine years, Henrik has served as Finansinspektionen’s chief economist.
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).
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.
Finansinspektionen’s (FI) Director General Daniel Barr joined the Board of Supervisors of the European Insurance and Occupational Pensions Authority (EIOPA) in July 2023.
Susanna Grufman, deputy director general and executive director of Markets, is leaving FI for the Riksbank.
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.
Finansinspektionen has reciprocated the Norwegian systemic risk buffer.
It will be possible to submit TR files, but feedback will not be sent until after 12 pm on Monday 12 June.
Finansinspektionen has decided to issue an injunction to the currency exchange company My Change Scandinavia AB (My Change) to immediately cease its operations. The reason is extensive and severe deficiencies in the firm’s work to combat money laundering and terrorist financing.
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.
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.
Per Nordkvist, currently the deputy executive director of the Banking section, will take over as acting executive director.
Finansinspektionen grants Swedish Financial Benchmark Facility AB (SFBF) authorisation as an administrator of STIBOR under the EU regulation on benchmarks (BMR).
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.
Fraudsters want to establish a credible façade to be able to deceive consumers. One way of achieving this is to make it look like the consumer is being contacted by a real authority or a real company. This then creates trust, enabling the fraudster to convince consumers to pay made-up fees. Finansinspektionen has seen several examples of this during the first quarter of 2023.
The Government has appointed Camilla Asp to Finansinspektionen’s Board of Directors.
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.
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.
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.
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.
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 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.
There may be some minor disturbances in the TRS 2 system on March 18 and 19 in both the production environment and the test environment. The disturbances are due to planned maintenance. In the event of problems, rapporteurs are advised to try again later during the day.
TRS 2 system closed on Wednesday, 15 March.
As of 1 March, we have a new heading in the main navigation panel of our website: Payments. Here you will find all information related to activities within the payments sector.
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.
You do not need special insurance when buying, for example, a new TV or a dishwasher. This is the conclusion of our review of so-called gadget insurance, which is often offered in retail. If you have home insurance, you have good protection.
Malin Alpen is currently the head of compliance at Getswish AB, which provides the service Swish to participating banks. Malin has worked extensively in the financial market with payment-related matters, including at Handelsbanken, the Swedish Ministry of Finance and Sveriges Riksbank.
The Government has today appointed Daniel Barr as the new Director General of Finansinspektionen.
The European Systemic Risk Board (ESRB), the EU’s macroprudential overseer, has issued a general recommendation on risks linked to vulnerabilities in the commercial real estate (CRE) markets in the EU, Iceland, Liechtenstein and Norway. The recommendation calls for improved monitoring of such risks to the financial system, along with both micro- and macroprudential policy measures to address identified vulnerabilities where necessary.
Despite the contracting economy and the uncertainty in both the Swedish economy and the world in general, investment fraud was on the rise last year. In 2022, FI issued 3,471 warnings – 25 per cent more than in 2021. One new observation during the year is that fraudsters more frequently demand payment in bitcoin to avoid detection.
All submitting entities that received incorrect validations with error codes CON-070 and CON-160 may now resend the incorrectly rejected transactions.
We have updated the design of our start page and several other pages. Much of the content on the pages has stayed the same, but some things have been given a new name and location.
Swedish Financial Benchmark Facility AB 's (SFBF) application to become an authorised administrator of STIBOR in accordance with the EU’s Benchmark Regulation (BMR) has of 2 January 2023 been assessed to be complete.
One out of six who borrow from a consumer credit institution, previously called instant loan firms, receives a collection notice. Among all lenders, one out of five unsecured loans was approved for a person who does not have any money left after paying their monthly subsistence costs. Given the expected economic development – high inflation and higher interest rates – this percentage could increase to every third borrower. All of these observations indicate that credit assessments are insufficient. This is the conclusion of a consumer credit survey that FI is presenting today.
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 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. 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.
Finansinspektionen will prevent greenwashing in the financial sector through preventive measures and supervisory activities. Today, in a new report that is submitted to the government, FI presents a strategy to prevent greenwashing.
Therese Östling Waller is currently the HR manager at SVT. Therese has extensive experience within HR, including from the Swedish Public Employment Service, where she was head of the HR department for several years.
Major Swedish banks demonstrate considerable resilience in the stress test Finansinspektionen (FI) conducted in 2022. The test identifies the potential effects on the five largest Swedish banks’ financial positions when interest rates and inflation increase. This memorandum (only available in Swedish) describes the method behind the stress test and its results.
Rising interest rates, decreased risk-taking and a slowing economy are weighing on highly indebted commercial real estate firms and households. The rapid transition to higher interest rates and a decreased willingness to take risk means financial stability risks have increased since spring. At the same time, this transition may lead to lower risk-taking and indebtedness in the long run, thus lowering stability risks.
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 2022.
The TRS 2 system will be closed for maintenance on Wednesday, 23 November. It will be possible to submit TR files, but feedback will not be sent until after the maintenance is completed.
Susanna Grufman has been the deputy director general since March 2020 in addition to her role as executive director for Markets. She will take over today, 21 November, as acting director general as Erik Thedéen steps down from his role as director general to become the head of the central bank.
SIP Nordic Fondkommission AB (SIP Nordic) is receiving a warning and must pay an administrative fine of SEK 6.7 million.
Celina Fondförvaltning AB (Celina) is receiving a warning and must pay an administrative fine of SEK 10 million.
From around the 26:th of October it has occurred that Buyer and Seller LEI have been wrongly validated, which has resulted in improperly issued error codes CON-070 and CON-160.
It will be possible to submit TR files, but feedback will be sent first after the maintenance has been completed.
FI will create a new operational section to focus on payments and preparedness.
Finansinspektionen has reciprocated the Norwegian systemic risk buffer.
The TRS 2 system will be closed for maintenance on Wednesday, 5 October.
The FTP server for the TRS 2 system will not be available on 28 September 2022 due to a change in certificate.
It will be possible to submit TR files, but feedback will be sent first after the maintenance has been completed.
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.
The foreign money remittance provider Moneygram International SPRL has not had a sufficient scope in the general risk assessment of its operations in Sweden to its assessment of the risk of being used for money laundering or terrorist financing. Therefore, FI has decided to issue an injunction to Moneygram to resolve the deficiencies by 30 December of this year.
The minutes from the Financial Stability Council’s extraordinary meeting on 4 September is now available.
The disclosures provided about funds with sustainable investment as their objective are often unclear. This is the conclusion of an in-depth analysis conducted by Finansinspektionen (FI). In many cases, the disclosures provided in the funds’ prospectuses need to be clearer and more specific.
Finansinspektionen has closed an investigation into whether EQT AB was in violation of EU’s Market Abuse Regulation (MAR) when the company disclosed information on 7 September 2021 regarding a revision of the existing lock-up agreements. FI has closed the investigation.
The FTP server for the TRS 2 system's test environment will not be available on 14 September 2022 due to a change in certificate.
The Swedish Financial Stability Council agrees on measures to safeguard financial stability. The council met on Sunday the 4th of September for an extraordinary meeting due to the liquidity problems in the market for electricity derivatives.
When purchasing a mobile telephone, TV or appliances, for example, you often receive an offer to buy insurance for the newly purchased item. FI will now review whether so-called product insurances create unnecessary costs for customers without providing extra protection.
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 2022.
Finansinspektionen has passed decisions concerning reciprocation of macroprudential measures in Lithuania, Belgium and the Netherlands.
Jacob Henriksson comes most recently from the Swedish Fortifications Agency where he worked for almost five years as CFO and deputy director general.
FI has decided to raise the countercyclical buffer rate to 2 per cent, which is its neutral level. This was already communicated in the report Stability in the Financial Markets. Due to the 12-month implementation period, this rate will start to go into effect at the end of June 2023.
Svea Ekonomi, which has now merged with Svea Bank, and Resurs Bank have been deficient in their credit assessments of consumers who received large unsecured loans. Both banks are therefore receiving a remark and an administrative fine of SEK 45 million and SEK 50 million, respectively.
Erik Thedéen will step down from his role as director general at FI on 1 January 2023 to become the head of Sweden’s central bank.
Finansinspektionen views seriously the complaints from consumers who have been denied a bank account, and the authority is now encouraging banks to carefully maintain data on how many people are experiencing problems opening an account. This data will give a clearer overview of the situation and help find solutions.
Starting today, Finansinspektionen will regularly publish the total of all short positions that must be reported to FI.
Rapporteurs need to update the application for periodic reporting that they have installed locally. The new version is now available to download and install.
Interest rates are rising rapidly in the wake of high inflation. High interest rates and lower risk appetite are placing downward pressure on risk-taking and asset prices. In the long term, this can slow the growth of debt and benefit financial stability. However, the large debts that built up over the extended period of low interest rates are putting pressure on highly indebted households and firms.
Finansinspektionen (FI ) intends to raise the countercyclical buffer rate to 2 per cent in Q2 2022.
The TRS 2 system will be closed for maintenance on Tuesday, 31 May, due to the roll-out of the European Securities and Markets Authority’s (ESMA) updated validation rules.
Starting today, and on every Wednesday at 1:00 PM, Finansinspektionen will publish aggregate outstanding short positions.
Finansinspektionen (FI) is issuing Nordnet Bank AB a remark for violations related to the bank's intraday short selling service. Nordnet must also pay an administrative fine of SEK 100 million.
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 2022.
Finansinspektionen (FI) is appointing an auditor to map the IT incident that occured at Swedbank AB during the night between 28 and 29 April and resulted in incorrect balances being shown in customers’ accounts.
Finansinspektionen has invited several banks to a roundtable discussion on Friday, 20 May, on the right to open payment accounts. The background is that the number of complaints FI is receiving from consumers who are being denied a payment account is increasing. Some also have their accounts blocked or closed.
The financial sector must quickly become better at preventing and handling cyber threats. Customers and society at large must be able to trust that the critical services offered by financial corporations will function even during periods of uncertainty and in the presence of threats. As commissioned by the government, Finansinspektionen (FI) therefore has proposed a number of measures to increase resilience to cyber attacks in the financial sector.
The TRS 2 system has been experiencing operational disruptions following the technical maintenance performed on Wednesday. Some rapporteurs are having difficulty connecting or not receiving feedback.
Are banks correct in refusing to open accounts for certain consumers? And what role do credit intermediaries play in many consumers taking large unsecured loans? These are two of the issues that Finansinspektionen (FI) will look more closely at in 2022 and that we present in this year's Consumer Protection Report.
TRS 2 will be closed for maintenance the 4 May.
The objective of the new online tool is to facilitate and streamline the application process at FI. It should be easy to submit an application to Finansinspektionen correctly and difficult to submit an application incorrectly. It will also be possible to track an application through the different stages of FI’s processing. The first applications that can be submitted via the new online tool will be management and owner management suitability assessments, and this module is expected to be operational in the autumn.
New mortgagors took out loans that were 12 per cent larger last year than in 2020. The average loan-to-value ratio for new mortgagors rose from 307 to 327 per cent. This is the highest figure since FI started its mortgage survey. The stricter amortisation requirement has slowed rising loan-to-income ratios. The high debt means that borrowers’ personal finances are under more pressure when interest rates rise.
Demand for green and sustainable investments is increasing rapidly. This increases the risk of greenwashing, i.e. presenting organisations and products as more sustainable than what they are in reality. Finansinspektionen (FI) will therefore review that the disclosures provided about the funds classified as the most sustainable fulfil the strict requirements placed on them.
The data and methods available for measuring climate-related transition risks are under development. There is a lot of work going on in this area, in the banks and in organisations at national and international level, but it is important that the banks calculate and manage these risks already today. It is no good waiting for better data and fully standardised and harmonised methods to become available. Finansinspektionen (the Swedish Financial Supervisory Authority) and the Riksbank have jointly applied the Paris Agreement Capital Transit Assessment Tool (PACTA) to measure climate-related transition risks in the banks' credit portfolios. The results show that there are transition risks that banks have to take into account.
Insurance companies in the United Kingdom and Ireland raise their premiums more for loyal customers than they do for policyholders who change their provider frequently. Finansinspektionen (FI) will now look more closely at what happens in Sweden for home and auto insurance customers.
In accordance with the assessment in the most recent stability report, FI leaves the countercyclical buffer rate unchanged. The buffer rate of 1 per cent that was decided on 28 September 2021 will be applied as of 29 September 2022. Until then, the buffer rate is 0 per cent, which is the rate that has applied since 16 March 2020. The countercyclical buffer guide is calculated at 0 per cent.
EU is implementing new and expanded sanctions in response to the situation in Ukraine. Sanctions issued by the European Union in the form of regulations are directly applicable in Sweden.
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 2021.
The application that is used for some periodic reporting to Finansinspektionen and that rapporteurs have installed locally on their computers will need to be upgraded later this spring. The reason for the upgrade is security improvements.
Finansinspektionen (FI) issues payment service companies Trustly Group AB (Trustly) and ClearOn AB (ClearOn) warnings for severe deficiencies under the anti-money laundering regulatory framework.
TRS 2 will be closed for maintenance Wednesday the 16 February.
Do firms lend money to people who cannot pay back the loan? Do financial firms work enough with their IT security? How green are green funds, in reality? These are three areas that Finansinspektionen (FI) will investigate more closely in 2022.
The notification threshold is permanently lowered from 0.2 per cent to 0.1 per cent.
TRS 2 will be closed for maintenance on Monday the 31 January.
TRS 2 will be closed for maintenance on Monday the 24 January.
As of 1 March, HR will become its own office and report directly to FI’s director general. Following this change, HR Director Karolina Lirón Källåker will become an executive director and join FI’s management team.
On 1 February, Susanna Grufman will become the executive director of FI’s Markets section. She will continue to serve as the deputy director general and maintain responsibility for consumer protection matters.
Swedish Financial Benchmark Facility AB (SFBF) submitted an application to Finansinspektionen (FI) on 27 December 2021 to become an authorised administrator in accordance with the EU’s Benchmark Regulation (BMR).
The Swedish Bankers’ Association published a recommendation yesterday on the actions users of the STIBOR reference rate should take if STIBOR were no longer provided. Finansinspektionen (FI) would therefore like to clarify how we will issue statements, if necessary, in the event STIBOR ceases to be provided.
In accordance with its assessment in the most recent stability report, FI is leaving the countercyclical buffer rate unchanged. The buffer rate of 0 per cent, which was applied starting on 16 March 2020, shall thus continue to apply. The countercyclical buffer guide is set at 0 per cent.
New reporting questions in 2022
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.
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 2021.
The economic recovery has been stronger than expected this year, in part due to strong support measures during the pandemic. At the same time, risks are building up, writes Finansinspektionen (FI) in its second stability report of the year. The report is being presented today by Director General Erik Thedéen and Chief Economist Henrik Braconier at a press conference.
The International Monetary Fund (IMF) will conduct a review of the financial sector and the work of the authorities on financial stability, a so-called FSAP (Financial Sector Assessment Program) in 2022. FSAPs are conducted regularly for countries with systemically important financial markets. In its report, the IMF will highlight any flaws and risks in the system and propose measures to deal with them.
Borrowers of consumer credits have higher incomes and pay less for their loans in relation to their income compared to previous years. But we are seeing deficiencies in the credit assessment, and many borrowers are still receiving collection notices. Young borrowers are still overrepresented among those that experience early repayment problems. These are the conclusions from this year’s consumer credit survey.
TRS 2 will be closed for maintenance the 18 November.
A global standard for sustainability reporting will make it possible for the finance sector to steer investments from harmful activities to activities that contribute to the climate transition. Finansinspektionen’s (FI) Director General Erik Thedéen will be at the UN’s climate conference (COP26) in Glasgow to talk about this work.
On Monday, 1 November, the TRS2 test environment will be closed for maintenance.
The incident entailing missing or incomplete feedback in the TRS2 test environment has been resolved today the 22 October. FF- and FD-files are now generated normally.
Finansinspektionen (FI) is creating a new position to strengthen its work within sustainability. Johanna Fager Wettergren will be the new Head of Sustainable Finance.
There has been an ongoing incident since 18 October in the test environment for TRS 2. Submitting entities are either not receiving all expected feedback or receiving no feedback at all (neither FF nor FD files). Troubleshooting is in progress.
Danske Bank has not sufficiently assessed the risk of how the bank’s products and services in Sweden may be used for money laundering and terrorist financing. Danske Bank must therefore rectify these deficiencies no later than June 30, 2022.
Finansinspektionen (FI) is withdrawing the authorisation of securities company Nord Fondkommision AB (Nord) due to severe deficiencies in the company’s advisory activities and other areas. This decision means that the company must cease all regulated activities. As a result, it may no longer provide financial advice or sell financial products. The decision will be presented by FI Director General Erik Thedéen and Chief Legal Counsel Eric Leijonram at a press conference today, Wednesday, 13 October, at 10:00 AM.
Cash is not necessary for children to understand the value of money. This is the outcome of a study by KTH Royal Institute of Technology that was commissioned by Finansinspektionen (FI). Parents therefore should not let the decreasing use of cash stand in the way of teaching children about money, a knowledge that children need to have for a good understanding of their personal finances as adults.
Finansinspektionen (FI) has decided to raise the countercyclical buffer rate to 1 per cent. The new buffer rate will be applied as of 29 September 2022. Until then, the buffer rate will remain at 0 per cent.
Finansinspektionen has decided to open an investigation into EQT AB for suspected breach of the Market Abuse Regulation (MAR) in conjunction with a delayed disclosure of inside information. FI’s handling of this matter is thus entering a new phase.
On Friday, 24 September, until Sunday, 26 September, TRS 2 will be closed for maintenance.
Many consumer credit assessments need to improve to fulfil the requirements of the Consumer Credit Act. Finansinspektionen (FI) is therefore now clarifying what information lenders should gather for a credit assessment and how this information should be used. The new general guidelines will go into effect on 1 November 2021.
On 7 September, FI received a notification from EQT AB regarding a delayed disclosure of inside information. On 14 September, FI requested that the company submit an account of the circumstances that served as a basis for the delayed disclosure. FI will analyse the response from EQT AB in order to decide if there are grounds for further action.
Finansinspektionen (FI) intends to raise the countercyclical buffer rate to 1 per cent in Q3 2021.
During the autumn, the European Commission will publish a proposal for updated capital adequacy rules for banks within the EU. Finansinspektionen (FI) now urges the EU Commission to stick to the Basel III agreement.
Pursuant to Article 93 (7) and (8) of Directive 2009/65/EC, a foreign UCITS established in another Member State authorised for marketing in Sweden must submit to Finansinspektionen annual updates of KIID(s) or updated KIID(s) of share class(es) authorised for distribution in Sweden.
FI has received and input all GLEIF LEI data files that were missing in the TRS 2 system due to an incident that occurred at ESMA during the period 2021-08-10–2021-08-27.
ESMA has had an ongoing IT incident since 10 August 2021 that has prevented it from delivering to national supervisory authorities LEI reference data files for transaction validation.
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 2021.
FI proposes that the regulations (FFFS 2019:1) regarding periodic reporting of data on the minimum requirement for own funds and eligible liabilities (MREL) be repealed.
The rules on amortisation go into effect as normal again after 31 August. The temporary exemption that Finansinspektionen (FI) introduced due to the exceptional uncertainty in the economy during the spring of 2020 is now ending. This means that households with high loan-to-value and debt-to-income ratios must amortise their mortgages.
Uncertainty is decreasing, and the economy is continuing to recover. Therefore, the recommendation regarding restrictions on dividends will not be extended. The recommendation ends on 30 September 2021.
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).
FI will investigate whether Klarna violated its duty of confidentiality in conjunction with an IT incident in May when the bank’s customers were able for a limited time to access information about one another. This matter will be added to the investigation that FI has already opened into Klarna’s work with information and cyber security.
The mortgage cap and amortisation requirements have had intended effect and subdued household debt. They are slowing a scenario where new mortgagors borrow more, taking larger loans in relation to the value of the home or their income. These are the conclusions of Finansinspektionen’s (FI) evaluation of the macroprudential measures implemented in Sweden.
Finansinspektionen (FI) is issuing Maiden Life Försäkrings AB a warning. The company must also pay an administrative fine of SEK 5.5 million.
Finansinspektionen has passed a decision to reciprocate the Norwegian Ministry of Finance’s decision to implement an average risk weight floor 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.
On Wednesday, 16 June, TRS 2 will be closed for maintenance.
The support measures have been important for offsetting the economic impact of the crisis and speeding up the recovery. However, they can also contribute to greater stability risks in the long run, concludes Finansinspektionen (FI) in this year’s first report on the stability in the financial system, which is being published today.
Finansinspektionen (FI) leaves the countercyclical buffer rate unchanged. The buffer rate of 0 per cent, which was applied starting on 16 March 2020, shall thus continue to apply. The countercyclical buffer guide is set at 1.6 per cent.
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 2021.
One fifth of all debts with the Swedish Enforcement Authority come from loans. And people with low incomes run the greatest risk of suffering repayment problems. Repayment problems often start with life events such as unemployment or illness. This is shown by a new analysis from Finansinspektionen (FI), the Swedish Consumer Agency and the Swedish Enforcement Authority.
On Wednesday, 19 May, the test environment of the TRS 2 system will be closed for maintenance.
The Government has decided to extend Erik Thedéen’s employment as director general and head of Finansinspektionen by three years.
FI has decided to replace several of our existing reporting systems with a new system with the aim of better meeting current and future legal requirements and enhancing user-friendliness for the companies that report via the systems. The new reporting system, FIDAC, will be used for both periodic and event-driven reporting.
New borrowers are continuing to take larger mortgages in relation to their income and the value of their home, according to this year’s Swedish Mortgage Market, which is being presented today by Finansinspektionen (FI). FI also announces in the report that the temporary exemption from the amortisation requirement will end on 31 August.
In a new memorandum, Finansinspektionen describes the general principles for the application of the countercyclical capital buffer. FI is also leaving the countercyclical capital buffer unchanged at 0 per cent.
Today Finansinspektionen (FI) publishes a new memorandum, describing its approach for setting the countercyclical buffer rate. FI also leave the countercyclical buffer rate unchanged. The buffer rate of 0 per cent, which was applied starting on 16 March 2020, shall thus continue to apply. The countercyclical buffer guide is set at 2.1 per cent.
FI will include a sustainability perspective when reviewing business models and credit risks of banks, according to a report published by FI today.
The European Securities and Markets Authority (ESMA) has decided not to renew its decision to temporarily lower the notification threshold for when net short positions are to be notified to the relevant national competent authority.
Finansinspektionen would like to clarify the obligations of third-party payment service providers when gathering information about bank customers’ payment accounts via digital interfaces. FI has also contacted the banks and reminded them about their obligations as an account servicing payment service provider (ASPSP).
An important step has now been taken towards a global standard for sustainability reporting. The Board of Directors of the International Organization of Securities Commissions (IOSCO) voted during its meeting yesterday for IOSCO to actively work to achieve a unified and comparable global standard for sustainability disclosure. IOSCO’s work in this area is being carried out within the work group led by Finansinspektionen’s Director General Erik Thedéen.
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 2020.
Young borrowers and borrowers with low income run a higher risk of experiencing payment problems when they take non-mortgage loans, even if they only borrow small amounts. At the same time, the risk that consumers will get trapped in debt decreases if credit providers conduct thorough credit assessments. These are the conclusions of a new analysis from Finansinspektionen that is presented in conjunction with this year’s consumer protection report.
Think carefully before buying a financial product containing cryptoassets. The risks are significant and the protections for you as a consumer are weak, FI warns today.
Are the banks conducting thorough credit assessments when customers apply for consumer credit? Are smaller banks and payment service firms taking sufficient measures to prevent money laundering? What risks will the coronavirus pandemic pose in the future? These are three areas that Finansinspektionen (FI) will look more closely at in 2021.
Have you been the victim of investment fraud? Then there is a risk that you will be targeted again. You might be contacted with new investment offers, or you might receive a fake offer to help recover previous losses. Sometimes these offers come right after the first fraud, but other times they come several years later.
By its decision of 26 January 2021, Finansinspektionen (FI) issued Nasdaq Clearing AB a warning for serious deficiencies in its operations. According to the decision, Nasdaq Clearing must also pay an administrative fine of SEK 300 million.
Finansinspektionen (FI) is issuing Nasdaq Clearing AB a warning for serious deficiencies in its operations, in part in conjunction with a member of the firm’s commodities market being declared in default in 2018. Nasdaq Clearing must also pay an administrative fine of SEK 300 million.
On Tuesday, 26 January, TRS 2 will be closed for maintenance.
As of 1 January 2021, FI will implement new procedures for how it announces opened and closed supervision investigations.
Single-adult households with children continue to have a more difficult financial situation than other households. FI has measured households’ financial literacy and found that it has improved in almost all areas compared to previous surveys.
In light of the economic uncertainty caused by the ongoing coronavirus pandemic, FI expects banks, including credit institutions and other financial firms such as insurance companies, to be restrictive with dividends and share buybacks until 30 September 2021. During this period, total dividends from and buybacks by the banks should not exceed 25 per cent of their aggregate net earnings for the two financial years 2019–2020.
Due to Brexit, ESMA will have a maintenance window from 31 December 2020 through (preliminarily) 7 January 2021.
FI welcomes the Federal Reserve to the Network for Greening the Financial System (NGFS), which celebrates its third anniversary today.
What will happen in the event that the transition period ends without an agreement between the EU and the UK.
An increase in the spread of the coronavirus will dampen the recovery in European economies and, in the long run, this could impact financial stability, writes Finansinspektionen (FI) in this year’s second stability report, which will be published today.
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 2020.
Finansinspektionen (FI) decided on 24 November not to change the countercyclical buffer rate. The buffer rate of 0 per cent, which was applied starting on 16 March 2020, shall thus continue to apply. The countercyclical buffer guide is set at 1.7 per cent.
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.
As the crisis unrolled this past spring in full force, it required fast and extraordinary measures. For example, FI lowered the countercyclical buffer requirement for the banks and encouraged them at the same time to postpone their dividend payments until the situation had become clearer. During the autumn, FI repeated its message to the banks to not make any dividend payments in 2020.
Finansinspektionen (FI) is issuing credit market company AK Nordic AB a remark. The company must also pay an administrative fine of SEK 20 million.
On Friday, 16 October, from 1:00 PM to 4:00 PM, TRS 2 will be closed for maintenance.
Today, FI launches a new Short Selling Register for significant net short positions.
Large credits are growing, but the smallest credits are growing faster. More borrowers are having difficulty making their payments soon after the credits are granted, and these payment difficulties are more prevalent among younger borrowers than older borrowers. These are some of the conclusions from Finansinspektionen's report this year on consumer credit. These conclusions indicate that lenders’ credit checks are not working as they should, and FI is therefore now reviewing the guidelines.
FI is proposing regulatory amendments and a change in the application of capital requirements for Swedish banks in order to adapt to the EU’s so-called banking package.
Today, FI launches a new reporting system for the reporting of net short positions: the Short Selling Online Reporting tool.
This week, FI will launch a new reporting system for the reporting of net short positions: the Short Selling Online Reporting tool.
Swedbank has written in a press release that FI is investigating potential breaches of the Market Abuse Act. Given that the company has chosen to disclose information about the investigation, FI confirms that the information is correct. FI has opened an investigation.
Finansinspektionen (FI) decided on 9 September not to change the countercyclical buffer rate. The buffer rate of 0 per cent, which was applied starting on 16 March 2020, shall thus continue to apply. The countercyclical buffer guide is set at 1.3 per cent.
Finansinspektionen would like to remind rapporteurs that FI has introduced a new log-in method for periodic reporting filed via an application on the computer that previously required a card and card reader. The new method requires users to log in using Bank ID.
Despite positive signals, there is still considerable uncertainty about how the coronavirus pandemic will develop in the next few months in both Sweden and the rest of the world. To ensure the banks’ resilience in a situation that continues to be uncertain, the banks should suspend the payment of dividends to shareholders in 2020. This was the message from Finansinspektionen’s Director General Erik Thedéen at Fastighetsdagen today.
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 2020.
On Friday, 28 August, TRS 2 will be closed for maintenance.
Finansinspektionen has introduced a new log-in method for periodic reporting filed via an application on the computer that previously required a card and card reader. The new method requires users to log in using Bank ID.
The COVID-19 pandemic has incurred large human and economic costs and also affected the financial sector. Maintaining own funds in financial institutions is important both for ensuring the resilience of the financial system and supporting banks' lending through this crisis.
In the autumn of 2020, Finansinspektionen will introduce a new reporting system for the reporting of net short positions: the Short Selling Online Reporting tool.
The first publication occasion covers UCITS holdings for Q1 2020 and older figures for the period Q4 2018 onward. The data will from now on be published with a two-month delay. This means that the holdings for Q2 2020 will be published on 1 September.
SEB has not sufficiently identified the risk of money laundering in its Baltic operations and has had deficiencies in its governance and control of the Baltic subsidiary banks’ anti-money laundering measures. SEB is therefore being issued a remark and an administrative fine of SEK 1 billion.
Finansinspektionen (FI) will hold a press conference on Thursday, 25 June, following the Board of Directors’ decision regarding the investigation into SEB AB’s governance and control of measures to combat money laundering in the bank’s subsidiaries in the Baltic countries.
JAK Medlemsbank (JAK) 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 1.6 million.
On 18 August 2020, FI will introduce a new log-in method for periodic reporting filed via an application on the computer and that previously required a card and card reader. The new method requires users to log in using Bank ID.
Governments, central banks, and authorities around the world have taken powerful measures to mitigate the economic impact of the coronavirus pandemic. These measures also helped dampen uncertainty on the financial markets. By utilising available buffers and continuing to lend to firms and households, the financial sector can dampen the impact of the crisis. It is also important to remember that the economic crisis is not over, and uncertainty is therefore high, notes Finansinspektionen (FI) in its first stability report of the year.
Finansinspektionen (FI) decided on 3 June not to change the countercyclical buffer rate. The buffer rate of 0 per cent, which was applied starting on 16 March 2020, shall thus continue to apply. The countercyclical buffer guide is set at 0.48 per cent.
Finansinspektion (FI) immediately withdraws the authorisation for Exceed Capital Sverige AB. Under FI’s decision, the company loses all its authorisations and may no longer conduct regulated business. The decision will be presented by FI Director General Erik Thedéen and Chief Legal Counsel Eric Leijonram at a press conference today, Tuesday, 2 June, at 2:00 PM.
The global sustainability network NGFS (Network for Greening the Financial System) is publishing today a report on how banks around the world consider climate-related risks in their lending. The report shows that this is occurring more frequently, but it is at the same time difficult to see which loans constitute a lower risk. This is because, for example, there is no international classification and a shared perception of which assets are “green” and “brown”.
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 2020.
The European Insurance and Occupational Pensions Authority (EIOPA) will collect new data for its ongoing impact assessment to assess the effects of the coronavirus pandemic.
FI decided on 1 April given the acute stage of the coronavirus pandemic to extend the freeze on new supervision investigations until 3 May. This decision will not be extended again, which means that the freeze on ongoing supervision meetings, investigations and information gathering will be lifted starting on 4 May.
Due to the coronavirus pandemic, the European Insurance and Occupational Pensions Authority (EIOPA) has published a consumer guide with tips that target insurance customers.
The European Insurance and Occupational Pensions Authority (EIOPA) has published a statement on principles that national competent authorities should consider to mitigate the impact of the coronavirus pandemic on the occupational pensions sector.
Skandia Liv has not calculated its capital need and commitments to its customers realistically or correctly for several years. This has entailed that the company’s customer protection and the company’s solvency have not been fairly assessed. Skandia Liv is therefore receiving a warning and an administrative fine of SEK 35 million.