{
  "title": "Sweden: Financial Sector Assessment Program–Technical Note on Oversight and Supervision of Financial Market Infrastructures and Selected Issues in Payment Systems",
  "publication": "IMF Staff Country Reports, April 5, 2023",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2023/04/05/sweden-financial-sector-assessment-programtechnical-note-on-oversight-and-supervision-of-531872",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2023/04/05/sweden-financial-sector-assessment-programtechnical-note-on-oversight-and-supervision-of-531872",
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  "summary": "This technical note discusses Sweden’s Oversight and Supervision of Financial Market Infrastructures and Selected Issues in Payment Systems. Digitalization of payments has been rising steadily in Sweden.",
  "sections": [
    {
      "heading": "Digitalization and payment infrastructure",
      "content": "- Digitalization of payments has been rising steadily in Sweden.\n- Sweden is undergoing a major overhaul of its payment infrastructure.\n- Joining the Eurosystem operated platforms:\n  - Will bring obvious benefits for the Swedish financial sector.\n  - May create challenges related to governance, risk management, representation of Swedish interests, and oversight."
    },
    {
      "heading": "Outsourcing and third-party risk",
      "content": "- Outsourcing of critical services to private companies is widespread and is going to increase in the Swedish financial sector.\n- Recommendation: The authorities are encouraged to establish and maintain a central register of critical service providers and outsourced third party arrangements."
    },
    {
      "heading": "Oversight and supervisory framework",
      "content": "- The review results of responsibilities suggest an effective supervision and oversight framework supported by:\n  - Sound legal basis.\n  - Sufficient resources.\n  - Proper domestic and foreign cooperation between the authorities.\n- Recommendation: The authorities should establish cooperative oversight and supervisory arrangements with P27 participating countries."
    },
    {
      "heading": "Subject focus and keywords",
      "content": "- Subject areas: Financial market infrastructure; Financial markets; Financial regulation and supervision; International organization; Monetary policy; Operational risk; Payment systems; PFM information systems; Principles for Financial Market Infrastructures; Public financial management (PFM).\n- Keywords: Europe; Financial market infrastructure; Operational risk; oversight activity; oversight arrangement; oversight framework; oversight power; oversight responsibility; Payment systems; PFM information systems; Principles for Financial Market Infrastructures; Riksbank's oversight function; supervision of financial market infrastructure."
    },
    {
      "heading": "Publication and document specifics",
      "content": "- Publication date: April 5, 2023\n- Pages: 36\n- Volume: 2023\n- Issue: 136\n- Series: Country Report No. 2023/136\n- DOI: https://doi.org/10.5089/9798400238215.002\n- ISBN: 9798400238215\n- ISSN: 1934-7685\n- Stock No: 1SWEEA2023006\n\nInternational Monetary Fund. \"Sweden: Financial Sector Assessment Program–Technical Note on Oversight and Supervision of Financial Market Infrastructures and Selected Issues in Payment Systems\", April 5, 2023.\n\n---\n\n Content in this bundle\n\n- 1sweea2023006\n  - 1sweea2023006 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1sweea2023006 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: April 5, 2023",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400238215.002",
    "Digitalization of payments has been rising steadily in Sweden.",
    "Sweden is undergoing a major overhaul of its payment infrastructure.",
    "Joining the Eurosystem operated platforms:",
    "Outsourcing of critical services to private companies is widespread and is going to increase in the Swedish financial sector.",
    "Recommendation: The authorities are encouraged to establish and maintain a central register of critical service providers and outsourced third party arrangements.",
    "The review results of responsibilities suggest an effective supervision and oversight framework supported by:",
    "Recommendation: The authorities should establish cooperative oversight and supervisory arrangements with P27 participating countries.",
    "Subject areas: Financial market infrastructure; Financial markets; Financial regulation and supervision; International organization; Monetary policy; Operational risk; Payment systems; PFM information systems; Principles for Financial Market Infrastructures; Public financial management (PFM).",
    "Keywords: Europe; Financial market infrastructure; Operational risk; oversight activity; oversight arrangement; oversight framework; oversight power; oversight responsibility; Payment systems; PFM information systems; Principles for Financial Market Infrastructures; Riksbank's oversight function; supervision of financial market infrastructure.",
    "Publication date: April 5, 2023",
    "Pages: 36",
    "Volume: 2023",
    "Issue: 136",
    "Series: Country Report No. 2023/136",
    "DOI: https://doi.org/10.5089/9798400238215.002",
    "ISBN: 9798400238215",
    "ISSN: 1934-7685",
    "Stock No: 1SWEEA2023006",
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