The Swedish National Debt Office’s decision on a resolution plan and minimum requirements for own funds and eligible liabilities in regard of the SEK
The Swedish National Debt Office’s decision on a resolution plan and minimum requirements for own funds and eligible liabilities in regard of the Swedish Export Credit Corporation (SEK)
The Swedish National Debt Office has as of today decided on plans for how Swedish banks and other financial institutions are to be managed in a crisis situation and also set their minimum requirement for own funds and eligible liabilities (MREL).
The Swedish National Debt Office’s assessment is that ten Swedish institutions, including SEK, has business activities that are critical to the Swedish financial system and have prepared plans that outline the measures that the Swedish National Debt Office intends to take in the event of resolution.
The Swedish National Debt Office has also set a minimum requirement for own funds and eligible liabilities for those institutions. Pursuant to the Swedish National Debt Office’s decision, the minimum requirement as to SEK amount to 7.1 per cent. of total liabilities and own funds, as calculated in accordance with the resolution regime. That is equivalent of a minimum requirement of 28.0 per cent. of risk weighted assets.
The requirement applies from 1 January, 2018, and the Swedish National Debt Office declares in its press release that the requirement is already met by all institutions, including SEK.
About SEK
SEK’s mission is to ensure access to financial solutions for the Swedish export industry on commercial and sustainable terms. SEK has a complementary role in the market, which means we act as a complement to bank and capital market financing for exporters wanting a range of financing sources. SEK’s vision is to strengthen the competitiveness of Swedish exporters, which helps create employment and sustainable growth in Sweden.
Contact SEK
Petra Könberg, Head of Marketing & Business Development
+46 761-49 83 09
Petra.konberg@sek.se
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