FI notifies the EU regarding extension of the existing risk weight floor for Swedish mortgages
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.
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.
Finansinspektionen presents here a new Pillar 2 method for assessing an additional own funds requirement for pension risk in credit institutions.
FI has decided to extend the risk weight floor by two years, from 31 December 2021 to 30 December 2023.
Finansinspektionen has notified the Commission and the European Systemic Risk Board (ESRB) that it intends to adopt a decision to extend the current risk weight floor for Swedish Mortgages for a period of two years, in accordance with Article 458 of the CRR.
FI has updated its method for assessing flowback risks associated with securitisation for individual banks. The aim is to decide, where applicable, on an additional own funds requirement under Pillar 2 for flowback risks associated with securitisation. This enables us to safeguard that a bank is sufficiently covering the flowback risks to which it is exposed.
FI has decided on a general approach to assess the size of a bank’s so-called Pillar 2 guidance. The approach is based on a two-step assessment that starts with a sensitivity-based stress test.
In a new memorandum, Finansinspektionen describes the general principles for the application of the countercyclical capital buffer.
FI has decided to extend the risk weight floor by one year, from 30 December 2020 to 30 December 2021.
FI is presenting a proposal for a general approach to assess the size of the Pillar 2 guidance for Swedish banks. The proposal is based on a two-step approach that starts with a sensitivity-based stress test. Comments on the proposal may be submitted to FI no later than 12 March.
Consumer protection, money laundering and risks that the coronavirus pandemic may pose in the future are three areas that FI will look more closely at in 2021.
Due to the United Kingdom’s withdrawal from the European Union, financial actors’ right to conduct cross-border operations in or from the United Kingdom that are based on European Union law was repealed on 1 January 2021.
Finansinspektionen (FI) presents in this memorandum a stress test of the Swedish banks that we conducted in the autumn of 2020. The results indicate that the major banks have significant resilience to the credit losses that could arise and also a capacity to maintain the supply of credit.
FI has decided to change the application of capital requirements for Swedish banks in order to adapt to the EU’s so-called banking package.
Finansinspektionen has notified the EU Parliament, the Council, the Commission, the European Systemic Risk Board (ESRB) and the European Banking Authority (EBA) that it intends to adopt a decision to extend the current risk weight floor for Swedish Mortgages for a period of one year, in accordance with Article 458 of the CRR.
Finansinspektionen is granting Euroclear Sweden AB authorisation to act as a central securities depository under Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories (CSDR).
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 has analysed the commercial real estate market and makes the assessment that it is vulnerable to shocks.
“We are taking the initiative to strengthen our international supervisory collaboration against money laundering and we are redistributing our own resources to increase our supervision capacity,” says FI’s Director General Erik Thedéen after today’s meeting with Minister for Financial Markets and Housing Per Bolund.
In Sweden, the traditional bank-based financing model for issuing and financing mortgages is currently being supplemented by models where mortgages are being financed in new ways, e.g. alternative investment funds (AIF).
As outlined in the capital requirements directive, FI must review the systemicrisk buffer on an biennial basis. FI has reviewed the arguments originally setout to support a SRB buffer level of 3 % at consolidated level for the major banking groups and finds the arguments to still hold today for the three remaining major banking groups, following Nordea’s re-domicile.
FI has conducted a number of supervision activities related to sustainability at the same time as the organisation has been partly restructured and received additional resources. During the year, FI's work has focused on integrating sustainability-related matters into its ongoing supervision, a project that will continue and be intensified.
Finansinspektionen grants Nordea Bank AB authorisationto execute the merger plan prepared with its subsidiary, Nordea Bank Abp, under which Nordea Bank AB is absorbed by NordeaBank Abp.
FI’s Board of Directors decides to change the method used to apply the current risk weight floor for Swedish mortgages through Pillar 2 by replacing it with a corresponding requirement under Article 458 of the Capital Requirements Regulation. The change will enter into force on 31 December 2018.
The European Commission has decided not to propose to the European Council a rejection of Finansinspektionen’s proposal to change the method for the application of the current risk weight floor for Swedish mortgages. This means that the measure may be implemented in Sweden.
Sweden’s traditional bank-based model for granting and financing mortgage loans is challenged by new firms with alternative financing models.
Finansinspektionen has notified the European Parliament, the EU Council, the European Commission, the ESRB and EBA on the intended measure to change the method for the application of the risk weight floor for Swedish mortgages under Article 458 of the CRR.
Finansinspektionen considers it to be necessary to implement a back-stop within Pillar 2 to limit effects on the total credit supply from systemically critical securitisation. FI is publishing today a method that it intends to use during its capital requirements assessment.
Finansinspektionen (FI) works to ensure that the financial system is stable and characterised by high confidence. It should also have well-functioning markets that meet the needs for financial services while at the same time ensuring a high level of protection for consumers. This requires stable financial firms, clear information for consumers and consideration for consumers' needs and circumstances when developing and selling products.