A stable, well-functioning financial market for allA stable, well-functioning financial market for allResult
2024
FI Analysis No. 47: The 2023 Banking Turmoil – Could What Happened in the US and Switzerland Also Happen in Sweden?
During the spring of 2023, one Swiss bank and several US banks failed. Multiple actors in both the US and internationally have analysed the underlying causes. We summarise the findings of these reports as follows: there was a lack of internal governance and control, there were deficiencies in the supervision, and several of the banks were not fully subject to the Basel regulations.
FI leaves the countercyclical buffer rate unchanged
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.
FI Supervision 30: The banks can strengthen their sanction screening
FI has tested the effectiveness of 19 banks' automated sanction screening systems. The result shows that the effectiveness of the systems that the banks use could be higher and that there is room for some banks to improve their work in this area.
AI increasingly common in the financial sector, but risk management is lagging behind
The new generative AI technology has spread rapidly and extensively throughout the Swedish financial sector. At the same time, the work to manage the risks accompanying the new technology is lagging behind. These are FI’s findings following a survey of firms’ use of AI.
FI maintains level of systemic risk buffer for major banks
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.
