Finansinspektionen (FI) intends to raise the countercyclical buffer rate to 1 per cent in Q3 2021.
In March 2020, FI lowered the countercyclical buffer rate to 0 per cent. The background was the economic uncertainty caused by the outbreak of the coronavirus pandemic. FI makes the assessment that the economy has continued to improve over the summer and that the risks for large credit losses in the banks continued to decrease. At the same time, there are high risks in the financial system related to risk-taking, high asset prices and high debt. FI therefore makes the assessment that it is now suitable to take the first step and raise the buffer rate to 1 per cent.
"It is time to withdraw our crisis measures. We are seeing that the economy continues to recover at the same time as risk-taking in the financial system is high. It is therefore natural that we now begin to build up resilience in the banks for future challenges by raising the countercyclical buffer," says FI's Director General Erik Thedéen.
FI is today submitting soma additional documentation for feedback to the concerned stakeholders and will consult the Riksbank and the Swedish National Debt Office. FI's Board of Directors will thereafter decide on this matter on 28 September.