Basel III insufficient for ‘huge’ Swedish banking system, says Ingves

Photo by David Lundberg

Stefan Ingves, governor of the Sveriges Riksbank, today said financial regulation in Sweden will have to go "over and above" the capital and liquidity standards prescribed in the Basel III accord.

The Swedish banking system is "huge", Ingves reasoned, as the total assets of the four largest banks – Handelsbanken, Nordea, SEB and Swedbank – amount to 400% of the country's GDP, and is also highly integrated.

"There are therefore good reasons for establishing a safe margin – a respectable distance

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