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.
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.