New mortgagors are amortising, borrowing less and buying less expensive homes, but many still have high debt. These are FI’s conclusions in this year’s mortgage report. FI is also publishing an FI Analysis that shows the stricter amortisation requirement has reduced the percentage of borrowers with high debt in relation to their income.
FI is issuing Avanza Pension a warning for insufficient management of technical provisions and reporting. Avanza Pension must also pay an administrative fine of SEK 35 million.
“The assertion that Finansinspektionen (FI) supposedly manipulated public documents related to money laundering investigations and that were requested by the newspaper Svenska Dagbladet is incorrect,” says FI’s Director General Erik Thedéen. An internal legal assessment that FI is publishing today shows that the documents and their release have been handled correctly. FI’s Board of Directors convened for an extraordinary meeting to receive information about this matter and how it will be handled.
Low interest rates have contributed to high risk-taking, rising asset prices and increasing debt. Higher interest rates in the next few years could reduce risk-taking and thus dampen the build-up of risk. However, unexpectedly large interest rate fluctuations and uncertain global developments could also test the financial sector’s resilience. These are some of the conclusions Finansinspektionen (FI) draws in this year’s second report on the stability in the financial system. The report will be presented at a press conference today.
Finansinspektionen (FI) grants Nordea Bank AB authorisation to execute its merger plan and thus move the bank’s head office to Finland.
The Swedish economy continues to be strong, and resilience in the financial system is satisfactory. However, a long period of low interest rates and strong growth has resulted in an elevated risk appetite, high asset prices and high debt. This makes the financial sector more sensitive to shocks, writes Finansinspektionen (FI) in the first Stability Report of the year, which is being presented today.
Finansinspektionen (FI) is issuing Solidar Fonder AB (Solidar) a warning. The company must also pay an administrative fine of SEK 10 million.
Finansinspektionen’s report, Stability in the Financial System, shows that the high level of household debt and rising house prices are causing vulnerabilities to build up in the Swedish economy. FI therefore would like to introduce a stricter amortisation requirement for new mortgage holders who take large loans in relation to their income.
The amortisation requirement that was introduced last year has had a slow-down effect thus far. Households with new mortgages are borrowing less and buying less expensive homes, but the risks associated with high household debt remain.
Nasdaq Clearing AB is receiving a remark and must pay an administrative fine of SEK 25 million. Nasdaq Stockholm AB is receiving a remark and must pay an administrative fine of SEK 30 million.