Changed collateral requirement for credit in RIX

The Riksbank has decided to change the requirements for collateral in the RIX payment system. The decision means that the limit of 75 per cent, applying to the share of covered bonds issued by the borrower or by an institution with close links to the borrower that can be used as collateral in the payment system is now removed. The decision comes into force immediately.

Given the developments in the financial markets, there is reason for the Riksbank to reconsider whether certain collateral can be accepted in the RIX payment system in larger volumes to increase the scope for credit from the Riksbank. The decision that has now been taken means that the permitted share of the total collateral that can be comprised of covered bonds is being raised from 75 per cent to 100 per cent. This means that the limit is removed. At the same time, it was also decided to lower the minimum credit rating requirement for longer-term securities pledged as collateral. The decision entails a harmonisation of the Riksbank’s collateral requirements with those applied within the Eurosystem. The changes apply with immediate effect and until further notice.

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The Riksbank is Sweden's central bank and an authority under the Riksdag, the Swedish parliament. The Riksbank is responsible for monetary policy with the objective to maintain price stability. The bank has also been given the task to promote a safe and efficient payment system.


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