FI Updates Capital and Reporting Requirements for Banks
The Swedish Financial Supervisory Authority (FI) updated the capital requirements for category 1 and 2 credit institutions, introduced test reporting for secured bonds, issued new requirement for identification of companies in instance files for reporting in Fidac, and updated the lists of deactivated European Banking Authority (EBA) validation rules for periodic reporting, via Fidac, for banks and investment firms.
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 second 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 issuing institutions will be able to test reporting of the data collection on secured bonds in the reporting system Fidac, as of September 01, 2022.
- FI decided to change the name that identifies the reporting company as of the reference date December 31, 2022. This applies to the EBA XBRL reporting, which must be submitted in the reporting portal Fidac. The change is a consequence of the EBA filing rule 3.6 in version 5.2, which regulates how the Financial Supervisory Authority must forward information to EBA.
- For banks, reporting takes place, among other things, in accordance with the FI regulations and the Capital Requirements Regulation or CRR (575/2013). However, for investment firms, from June 26, 2021, reporting has been in place, in accordance with the Investment Firms Regulation or IFR (2019/2033).
Related Links (in English and Swedish)
- News Release on Capital Requirements for Banks
- Capital Requirements for Banks (PDF)
- News Release on Test Reporting for Secured Bonds
- News Release on Reporting of Instance Files
- Updated Validation Rules
Keywords: Europe, Sweden, Banking, Reporting, Regulatory Capital, Basel, Secured Bonds, Validation Rules, Investment Firms, CRR, IFR, EBA, FI
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