Central Banking

Swedish clearing system puts infrastructure at risk – Riksbank

sveriges-riksbanks-huvudkontor-vid-brunkebergstorg
Sveriges Riksbank

Sweden’s financial infrastructure system faces “heightened” levels of operational risk until the country’s securities settlement system is upgraded, the country’s central bank warns.

“The operational risk in the financial system will be increased until Euroclear Sweden has replaced its IT system for securities settlement, the VPC system,” Sveriges Riksbank says in its latest financial infrastructure report, released on June 7.

“Since 2013, the Riksbank has repeatedly pointed out that Euroclear