A stable, well-functioning financial market for allA stable, well-functioning financial market for allResult
2023
Open finance in Sweden
Digitalisation introduces both opportunities and risks to the financial market. After conducting a new survey, FI has noted that broader regulation on how customer data can be shared with third-party providers could make it easier for consumers to compare financial products such as occupational pensions and mortgages.
IMF assessment of the financial sector in Sweden is complete
During 2022, the International Monetary Fund (IMF) carried out a special assessment of the financial sector in Sweden, a so-called FSAP (Financial Sector Assessment Program). FSAPs are conducted regularly for member countries with systemically important financial markets. The most recent FSAP for Sweden by the IMF was in 2016.
2022
A strategy to prevent greenwashing
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.
Financial stability risks are increasing on the back of rising interest rates and a weakening economy
Rising interest rates, decreased risk-taking and a slowing economy are weighing on highly indebted commercial real estate firms and households. The rapid transition to higher interest rates and a decreased willingness to take risk means financial stability risks have increased since spring. At the same time, this transition may lead to lower risk-taking and indebtedness in the long run, thus lowering stability risks.
Unclear information about sustainable funds
The disclosures provided about funds with sustainable investment as their objective are often unclear. This is the conclusion of an in-depth analysis conducted by Finansinspektionen (FI). In many cases, the disclosures provided in the funds’ prospectuses need to be clearer and more specific.
It is now possible to update the installed application for periodic reporting
Rapporteurs need to update the application for periodic reporting that they have installed locally. The new version is now available to download and install.
Rising interest rates put pressure on indebted households and firms
Interest rates are rising rapidly in the wake of high inflation. High interest rates and lower risk appetite are placing downward pressure on risk-taking and asset prices. In the long term, this can slow the growth of debt and benefit financial stability. However, the large debts that built up over the extended period of low interest rates are putting pressure on highly indebted households and firms.
Increased cyber security in the finance sector is needed
The financial sector must quickly become better at preventing and handling cyber threats. Customers and society at large must be able to trust that the critical services offered by financial corporations will function even during periods of uncertainty and in the presence of threats. As commissioned by the government, Finansinspektionen (FI) therefore has proposed a number of measures to increase resilience to cyber attacks in the financial sector.
Are banks refusing to open payment accounts for too many customers?
Are banks correct in refusing to open accounts for certain consumers? And what role do credit intermediaries play in many consumers taking large unsecured loans? These are two of the issues that Finansinspektionen (FI) will look more closely at in 2022 and that we present in this year's Consumer Protection Report.
Finansinspektionen introduces new online tool for applications
The objective of the new online tool is to facilitate and streamline the application process at FI. It should be easy to submit an application to Finansinspektionen correctly and difficult to submit an application incorrectly. It will also be possible to track an application through the different stages of FI’s processing. The first applications that can be submitted via the new online tool will be management and owner management suitability assessments, and this module is expected to be operational in the autumn.
FI reviews sustainable funds
Demand for green and sustainable investments is increasing rapidly. This increases the risk of greenwashing, i.e. presenting organisations and products as more sustainable than what they are in reality. Finansinspektionen (FI) will therefore review that the disclosures provided about the funds classified as the most sustainable fulfil the strict requirements placed on them.
New EU sanctions in response to the situation in Ukraine
EU is implementing new and expanded sanctions in response to the situation in Ukraine. Sanctions issued by the European Union in the form of regulations are directly applicable in Sweden.
Installed application for periodic reporting will be upgraded this spring
The application that is used for some periodic reporting to Finansinspektionen and that rapporteurs have installed locally on their computers will need to be upgraded later this spring. The reason for the upgrade is security improvements.
FI’s prioritised areas for 2022
Do firms lend money to people who cannot pay back the loan? Do financial firms work enough with their IT security? How green are green funds, in reality? These are three areas that Finansinspektionen (FI) will investigate more closely in 2022.
2021
Updates in reporting AML
New reporting questions in 2022
Resilience is needed as the risks in the commercial real estate sector increase
The economic recovery has been stronger than expected this year, in part due to strong support measures during the pandemic. At the same time, risks are building up, writes Finansinspektionen (FI) in its second stability report of the year. The report is being presented today by Director General Erik Thedéen and Chief Economist Henrik Braconier at a press conference.
IMF to assess financial stability in Sweden
The International Monetary Fund (IMF) will conduct a review of the financial sector and the work of the authorities on financial stability, a so-called FSAP (Financial Sector Assessment Program) in 2022. FSAPs are conducted regularly for countries with systemically important financial markets. In its report, the IMF will highlight any flaws and risks in the system and propose measures to deal with them.
FI increases sustainability efforts with new manager
Finansinspektionen (FI) is creating a new position to strengthen its work within sustainability. Johanna Fager Wettergren will be the new Head of Sustainable Finance.
Support measures can build up stability risks
The support measures have been important for offsetting the economic impact of the crisis and speeding up the recovery. However, they can also contribute to greater stability risks in the long run, concludes Finansinspektionen (FI) in this year’s first report on the stability in the financial system, which is being published today.
FI introduces new reporting system
FI has decided to replace several of our existing reporting systems with a new system with the aim of better meeting current and future legal requirements and enhancing user-friendliness for the companies that report via the systems. The new reporting system, FIDAC, will be used for both periodic and event-driven reporting.
