Background & Purpose

To make Sweden's financial system more stable, especially during economic downturns, new rules are needed for how financial authorities cooperate. This also ensures Swedish laws match important EU regulations.

Proposals & Debate

The Swedish government proposed that the Financial Supervisory Authority (Finansinspektionen) must consult with the Central Bank (Riksbanken) before deciding on the counter-cyclical buffer, a tool to ensure banks have enough capital during economic downturns. The proposal also included technical updates to align Swedish laws with EU regulations concerning financial companies in crisis and cross-border euro payments. No opposition proposals were approved.

The Decision

The Swedish Parliament approved the government's proposal, meaning Finansinspektionen will now work more closely with Riksbanken on financial stability measures and Swedish laws will be updated to match EU standards.

Does this affect you?

  • Financial Supervisory Authority (Finansinspektionen): Must now consult with Riksbanken on buffer values before making decisions.
  • Swedish Central Bank (Riksbanken): Will have a formal say in decisions about financial stability buffers.
  • Banks and Financial Companies: Will operate under updated Swedish laws that align with EU crisis management rules.
  • Companies and Individuals making Euro Payments: Will benefit from updated Swedish laws that align with EU rules for cross-border euro payments.

In Practice

  • Finansinspektionen must ask Riksbanken for its opinion before calculating the counter-cyclical buffer.
  • Finansinspektionen must also ask Riksbanken for its opinion before making a final decision on the buffer value.
  • Swedish laws will be updated to align with EU rules on how to handle financial companies that are in crisis.
  • Swedish laws will also be updated to match EU rules for payments made across borders in euros.