FI Publishes Multiple Regulatory and Reporting Updates for Banks

Below are the key details of the recent developments:

• FI published the capital requirements for Swedish banks and credit institutions, within supervisory categories 1 and 2, as of the end of the fourth quarter of 2022. The publication aims to clarify the effect of FI's capital requirements, including Pillar 2. Pillar 2 is the collective name for the rules governing internal capital evaluation of companies and FI's review and evaluation process, of which FI's overall capital assessment is an important part. The report covers the three major banks (Handelsbanken, SEB and Swedbank) as well as Länsförsäkringar, Klarna, Kommuninvest, Svenskt Exportkredit (SEK), SBAB, Avanza, and Nordnet.
• FI published examples of an XBRL file for reporting data on highly paid employees (module rem_he), statistical data on fraudulent procedures (module psd_frp) and approved higher quotas (module rem_hr_institution) that corresponds to "nothing to report." The files can be used from and including the reference date December 31, 2022 until the modules are replaced in the new Data Point Model (DPM) version from the European Banking Authority (EBA). The files can be used by companies that are subject to reporting requirements but have nothing to report and must be submitted to the reporting system Fidac.
• FI announced that digital application for management tests and owner-management tests at FI via a new digital e-service “Apply” has been launched from February 21, 2023. The Apply e-service automatically adapts the application according to the institute the user chooses to represent so that the right type of form is used and the right attachments are requested. For management tests and owner-management tests, the application is also forwarded to the person or persons to be tested, who then need to confirm or fill in the requested information. Later, the system will be broadened to more types of applications.
• FI previously informed that it will fully comply with EBA's revised guidelines for reporting serious incidents (EBA/GL/2021/03) under the Second Payment Services Directive (PSD2), but has postponed the possibility of digital reporting of incidents. In its statement, FI notified that, from April 20, 2023, the digital reporting of serious incidents according to PSD2 will be accepted both through the FI's reporting system Fidac and, as before, by email. Significant events (according to FFFS 2021:2) must continue to be reported via email.
• In another development, FI has decided to make changes to eight regulations to ensure that very large securities companies must apply to a large extent the capital adequacy rules that apply to credit institutions, according to changes in the EU supervisory regulation and in the capital adequacy directive. The regulations on reporting of quarterly and annual financial statements (FFFS 2014:14) and the regulations on reporting of interest rate risk in other activities (FFFS 2007:4) are amended. The changes mean that the companies must report their reporting in kroner. In addition, the information on financial year is removed in the regulations on reporting of quarterly and annual financial statements, as it is already in the FI's institution register. The changes will enter into force on March 08, 2023.

Related Links (in Swedish and English)

• New National Adaptation of Validation Rules
• Future Quarterly Reports for Housing and Consumer Credit
• Capital Requirements for Swedish Banks
• Nothing to Report Sample Files
• Digital Application for Management Tests
• Digital Reporting of Serious Incidents
• Changes to Reporting Regulations