## Sweden: Financial Sector Assessment Program–Technical Note on Macroprudential Policy

_IMF Staff Country Reports, May 25, 2023_

## Source details

**Canonical URL:** [Sweden: Financial Sector Assessment Program–Technical Note on Macroprudential Policy](https://www.imf.org/en/publications/cr/issues/2023/05/25/sweden-financial-sector-assessment-programtechnical-note-on-macroprudential-policy-533822)

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## Bibliographic details
- Published: May 25, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400243448.002

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### Key findings on market-based finance and macroprudential challenges
- The increase in market-based finance challenges macroprudential policy.
- Tools are not yet well developed for borrower-based measures beyond those applying to lending to households.
- Many market based finance participants are outside national regulatory perimeters.
- As the financial system becomes increasingly complex and interlinked with the risk of market-based finance, the need for advanced models (for tail risk, spillovers, and interconnectedness) will increase.

### Data, modeling, and analytical gaps
- There are still data gaps for almost all sectors.
- Finansinspektionen and the Riksbank need to better model:
  - tail risk,
  - spillovers,
  - interconnectedness.

### Policy recommendations and supervisory actions
- Authorities should make more use of “soft power” and joint communication, especially when risks become more systemic, as with market-based finance.
- Short of introducing new borrower-based measures to curb market funding, Commercial Real Estate firms should be required to improve disclosures, including on contingency plans when market funding dries up.

### Publication and metadata (preserved from source)
- Publication title: Sweden: Financial Sector Assessment Program–Technical Note on Macroprudential Policy
- Date: May 25, 2023
- Pages: 45
- Volume: 2023
- Issue: 182
- Series: Country Report No. 2023/182
- DOI: https://doi.org/10.5089/9798400243448.002
- Stock No: 1SWEEA2023011
- ISBN: 9798400243448
- ISSN: 1934-7685

*International Monetary Fund. Monetary and Capital Markets Department "Sweden: Financial Sector Assessment Program–Technical Note on Macroprudential Policy", IMF Staff Country Reports 2023, 182 (2023).*

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- **Executive Summary**
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_Source: https://www.imf.org/en/publications/cr/issues/2023/05/25/sweden-financial-sector-assessment-programtechnical-note-on-macroprudential-policy-533822_