AK Nordic receives a remark and an administrative fine

2020-10-14 | Press releases Bank

Finansinspektionen (FI) is issuing credit market company AK Nordic AB a remark. The company must also pay an administrative fine of SEK 20 million.

FI's investigation shows that credit market company AK Nordic has violated key provisions in the liquidity coverage regulations. The company's liquidity coverage ratio (LCR) has been lower than the binding minimum on several occasions, and FI has not been informed about these deviations.

The violations have increased the risk that AK Nordic would not be able to meet its short-term liquidity commitments. This has not happened, however, and the risk of ramifications for the financial system has been relatively limited. The company has also taken measures to rectify the deficiencies. Given this background, FI finds that AK Nordic shall receive a remark and pay an administrative fine of SEK 20 million.

FI:s decision

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