Bank losses not as bad as 1990s, says Riksbank

The Riksbank has predicted a sharp, but manageable, rise in Swedish banks' loan losses, largely on the back of defaults by businesses in the Nordic region and the Baltic States.

The central bank said in its Financial Stability Report, published on Tuesday, that it expected losses of Skr170 billion ($22 billion) in 2009 and 2010 owing to defaults by customers in the Baltic States, and corporates in Sweden and other countries where the major banks are active. "Just under 40% of these losses are

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