IMF Staff Country Reports

Sweden: Financial Sector Assessment Program–Technical Note on Crisis Management and Resolution

Publication Date:

May 25, 2023

Electronic Access:

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Summary:

The Swedish financial safety net and crisis management arrangements rest on sound foundations and have been strengthened further by legislative and policy reforms in the financial sector. The introduction of the Banking Recovery and Resolution Directive (BRRD) ahead of the 2016 Financial Stability Assessment Program (FSAP) established a well-developed statutory regime for supervisory early intervention, crisis management and resolution in Sweden. Since then, the government has implemented new EU Regulations on Recovery and Resolution of CCPs via complementary Swedish legislation establishing an early intervention, recovery, and resolution planning regime for CCPs. The new Riksbank Act, which came into force in January 2023, provides an explicit statutory basis for the central bank to provide liquidity support to avert “a serious disruption to the financial system in Sweden.”

Series:

Country Report No. 2023/180

Subject:

Bank resolution Bank resolution framework Crisis management Crisis management framework Crisis resolution Financial crises International organization Monetary policy

Frequency:

regular