“We need to make advancements in the fight against money laundering here and now, within the current system and regulatory framework,” asserted Erik Thedéen at the Swedish Bankers’ Association’s annual Bank Meeting.
Finansinspektionen (FI) strengthened its anti-money laundering supervision in 2019, in part by dedicating considerable resources to reviewing major Swedish banks’ governance and control of anti-money laundering measures in Baltic subsidiaries.
FI is opening a sanction case in the investigation into Swedbank AB’s governance and control of measures to combat money laundering in the bank’s subsidiaries in the Baltic countries.
Finansinspektionen (FI) decided on 24 October not to change the countercyclical buffer rate. The buffer rate of 2.5 per cent, which has applied since 19 September 2019, shall thus continue to apply. The countercyclical buffer guide is set at 0.16 per cent.
FI presents its view on the specific requirements for liquidity coverage ratios in individual currencies. The authority also provides its interpretation of the diversification requirement on the liquidity buffer’s composition for Swedish covered bonds. FI will apply this approach to its supervision of banks belonging to Supervision Categories 1 and 2 on 1 October 2019.
FI’s Deputy Director General and Executive Director of Banking, Martin Noréus, has resigned from his position at FI to become Chief Compliance Officer at Handelsbanken.
New rules enter into force in the EU on 14 September 2019 on contingency mechanisms for a dedicated interface. Finansinspektionen would therefore like to provide the following information for firms under supervision.
FI is publishing a Q&A on new rules that will go into effect on 14 September.
FI’s Director General spoke today at the Finansdagen conference in Stockholm.
At a conference today, Deputy Director General Martin Noréus shared his views on capital adequacy in Swedish banks and how capital adequacy will be impacted by forthcoming regulations. Mr. Noréus also gave a process update on ongoing AML investigations and concluded that money-laundering risks will become a bigger consideration in prudential supervision.