Featured Product

    FI Issues Multiple Regulatory and Reporting Updates for Banks

    May 31, 2022

    The Swedish Financial Supervisory Authority (FI) updated the capital requirements for category 1 and 2 credit institutions, introduced a new online reporting tool to facilitate and streamline the application process, and published the financial stability report.

    Below are the key highlights of the recent updates:

    • FI published capital requirements for the largest Swedish banks and credit institutions that belong to the supervisory categories 1 and 2 as of the end of the first quarter of 2022. The capital requirements have been published for Svenska Handelsbanken, Skandinaviska Enskilda Banken, Swedbank, Länsförsäkringar, Klarna, Kommuninvest, Svensk Exportkredit, SBAB, Avanza, and Nordnet. The capital requirements are based on the capital adequacy regulations, the Swedish application of the buffer requirements, and the Authority's latest review and evaluation of the companies.
    • The newly introduced online tool fully digitalizes the application process for both applicants and the FI employees processing the applications. All communication within and regarding the application process will occur via the online tool. Management and owner management suitability assessments will serve as the pilot cases. Users must first register with FI's authorization system before they may gain access to the new online tool.
    • The financial stability report highlights that FI intends to raise the countercyclical buffer rate to 2% in the second quarter of 2022. Due to the implementation period of twelve months, this level of the buffer rate can enter into force in the second quarter of 2023. This increase completes the authority's gradual increase of the buffer rate to the neutral level, which began in September 2021. The report also highlights that has also been given a more active role in strengthening the resilience of the financial sector to cyber attacks.

     

    Related Links


    Keywords: Europe, Sweden, Banking, Regulatory Capital, Basel, CCyB, Financial Stability Report, Reporting, FI

    Featured Experts
    Related Articles
    News

    ESAs Issue Multiple Regulatory Updates for Financial Sector Entities

    The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.

    November 15, 2022 WebPage Regulatory News
    News

    ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments

    The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.

    November 10, 2022 WebPage Regulatory News
    News

    IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets

    The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.

    November 09, 2022 WebPage Regulatory News
    News

    EBA Finalizes Methodology for Stress Tests, Issues Other Updates

    The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups

    November 09, 2022 WebPage Regulatory News
    News

    OSFI Sets Out Work Priorities and Reporting Updates for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.

    November 07, 2022 WebPage Regulatory News
    News

    APRA Finalizes Changes to Capital Framework, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.

    November 03, 2022 WebPage Regulatory News
    News

    BIS Hub and Central Banks Conduct CBDC and DeFI Pilots

    The Bank for International Settlements (BIS) Innovation Hubs and several central banks are working together on various central bank digital currency (CBDC) pilots.

    November 03, 2022 WebPage Regulatory News
    News

    ECB Sets Deadline for Banks to Meet Its Climate Risk Expectations

    The European Central Bank (ECB) published the results of its thematic review, which shows that banks are still far from adequately managing climate and environmental risks.

    November 02, 2022 WebPage Regulatory News
    News

    ESAs, ECB, & EC Issue Multiple Regulatory Updates for Financial Sector

    Among its recent publications, the European Banking Authority (EBA) published the final standards and guidelines on interest rate risk arising from non-trading book activities (IRRBB)

    October 31, 2022 WebPage Regulatory News
    News

    EC Adopts Final Rules Under CRR, BRRD, and Crowdfunding Regulation

    The European Commission (EC) recently adopted regulations with respect to the calculation of own funds requirements for market risk, the prudential treatment of global systemically important institutions (G-SIIs)

    October 26, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8582