Finansinspektionen (FI) does not consider it to be appropriate to grant banks the option of waivers from the so-called Basel 1 floor. FI wishes to continue ensuring that the banking system is sufficiently resilient, which safeguards financial stability.
The question of waivers was raised in connection with the new European capital requirement regulations. The new regulations, which came into effect on 1 January 2014, provide FI with an option to grant banks waivers from the so-called Basel 1 floor. The matter has now been circulated for consultation, but FI retains its previous position, i.e. that it is not appropriate to grant waivers.
The new buffer requirements in Basel 3, including the systemic risk buffers for the major Swedish banks, will be calculated without taking the floor rules of Basel 1 into account. The floor rules merely constitute a parallel back-stop for the lowest level of own funds, and do not entail a deviation from the previous Swedish agreement between FI, the Ministry of Finance and the Riksbank (the so-called November Accord).
FI's position does not involve any change in terms of the capital requirements according to the Basel 1 floor compared to its present form.