Sweden
Riksbank predicts ‘elimination’ of retail payments competition
Sweden’s retail payments market is expanding but Sveriges Riksbank says larger players will prevail and smaller companies ‘will be eliminated’
Riksbank deputy appointments boost easing hopes
Martin Flodén and Cecilia Skingsley selected as new deputies; seen to shift the executive board in a more ‘dovish’ direction and increase the chances of a rate cut
Riksbank risk survey reveals rate-rise fears
Participants in Sweden’s fixed-income and forex markets raise concerns over interest rates rising faster abroad than at home; unemployment data fuels call for a rate cut in the near term
Swedish deputy wants central bank independence reconsidered
Barbro Wickman-Parak, in her last speech at the Riksbank, says independence is ‘essential’ for price stability but needs to be reviewed with regard to macroprudential policy and financial stability
Riksbank deputy Lars Svensson steps down
Riksbank’s ‘most committed dove’ will leave the central bank in May after failing to win the other members of the Executive Board round to a more expansionary monetary policy
Basel III insufficient for ‘huge’ Swedish banking system, says Ingves
Sveriges Riksbank governor says Sweden must go ‘over and above’ capital and liquidity standards in Basel III; identifies household debt and bank market-funding as core weaknesses
Riksbank’s payment system restored after technical failure
Sweden’s large-value payments system, RIX, restored to full functionality after failing to start yesterday afternoon. But cause of disruption still unknown
Riksbank at odds with proposals to limit capital, analysts say
Proposals released that would halve the size of the Riksbank’s balance sheet; analysts say they clash with central bank policy and are unlikely to be adopted
Swedish deputy insists on stronger macro-prudential framework
Kerstin af Jochnick wants clearer macro-prudential mandate and decision-making structure; says recent committee proposals are not the answer
Riksbank deputy governor speaks out over ‘entrenched' unemployment fears
Deputy governor calls for rate cuts to bring unemployment down to 'lowest sustainable level'
Riksbank board members clash over inflation forecasts
Minutes from December monetary policy meeting show disagreement over impact of 25-basis point rate cut on inflation
Riksbank cuts rates in face of slowdown
Executive board votes to cut benchmark interest rate by 25 basis points to 1% and revise down forward guidance on rates; some members say actions should have gone further
Riksbank study tackles capital buffer challenges
Research by members of the Sveriges Riksbank’s financial department analyses the problems posed by Basel III’s counter-cyclical capital buffer
Riksbank reinforces foreign currency reserves
Sveriges Riksbank will borrow $15 billion of foreign currency from Swedish National Debt Office to compensate in part for increasing IMF commitments
Riksbank evaluates OTC derivatives market ahead of new rules
Members of the Riksbank’s financial stability department examine how participants in the OTC derivatives market are preparing for new European rules on risk management and transparency
Ingves defends position on rate-setting
Sveriges Riksbank governor insists in the absence of other instruments monetary policy should deal with potential risks of household indebtedness
Riksbank recommends interbank rate-setting reform
Central bank review finds no manipulation but identifies governance shortfalls; part of latest stability report that deems banks in Sweden ‘financially strong’
Ingves explores common characteristics between crises
Riksbank governor says liquidity measures are only temporary solution; warns government deficits are unsustainable
Svensson sheds light on Riksbank division
Sveriges Riksbank deputy governor explains schism in central bank’s monetary policy committee; says choice of repo-rate path is flawed
Riksbank minutes reveal further rate cut rejected
Board members vote to hold interest rate at 1.25% despite two deputies' reservations
Industry unmoved by death of minor-currency Libor
The Wheatley Review calls for an end to Libor quoting in five currencies, but the number of trades affected is small, say market participants
Riksbank deputy questions the role of inflation targeting
Per Jansson, deputy governor of the Sveriges Riksbank, suggests a move away from fine-tuning monetary policy around inflation but says a shift to a higher target does not seem advisable
Riksbank tightens collateral requirements
Swedish central bank moves against trend in Europe by tightening collateral conditions for loans; will offer banks a transitional period to adjust
Swedish deputy governor says IMF ready for global surveillance role
Barbro Wickman-Parak says IMF should lead surveillance of global financial system due to its legitimacy and depth of knowledge