Finansinspektionen (FI) is of the opinion that it is necessary to put an amortisation requirement in place. At the same time, the Administrative Court of Appeal of Jönköping, among others, finds deficiencies in the legal basis for FI to decide on an amortisation requirement. FI determines that the legal status is unclear and that FI's mandate needs clarifying. Therefore, at present, FI is not progressing with the amortisation requirement.
In FI's opinion, an amortisation requirement is needed in Sweden. This increases the resilience of households to shocks and reduces the risk of the Swedish economy being negatively affected as a result of unforeseen events in Sweden or abroad.
In its consultation response, the Administrative Court of Appeal has set out its opinion that it is doubtful as to whether FI is entitled by law to introduce amortisation rules. FI is of a different opinion, but shares the view of the Administrative Court of Appeal that there may not be any uncertainties regarding rules that affect many households for a long period of time.
FI therefore determines that FI's mandate to devise rules in the area needs clarifying. Meanwhile, FI will wait with the further regulatory work. Hence, the amortisation requirement will not be in place as of 1 August 2015.
At 9.30 a.m. today, FI will hold a press conference at its offices with acting Director General Martin Noréus and Chief Legal Counsel Per Håkansson. The press conference is media only but there will a webcast of the press conference.