IMF completes assessment of financial sector in Sweden
News 16 March 2023
In 2022, the International Monetary Fund (IMF) conducted a special assessment of the financial sector in Sweden called a FSAP (Financial Sector Assessment Program). FSAPs are performed regularly for member countries that have systemically important financial markets. The IMF’s most recent FSAP for Sweden was in 2016.
During 2021 and 2022, the IMF delegation made visits to Sweden and met with, among others, a large number of representatives from the financial stability authorities, the Ministry of Finance, the Swedish National Debt Office, Finansinspektionen and the Riksbank, as well as representatives from Swedish banks and other financial institutions.
The IMF’s recommendations concerning the Debt Office are primarily in regard to the agency’s role in managing financial crises. The IMF has concluded that, since the previous assessment, Sweden has made progress in operationalising the crisis management of banks in accordance with the regulations established after the financial crisis, but that work remains in order to among other things further clarify the implementation of the resolution tools. On the whole, the Debt Office concurs with the IMF’s viewpoints.
The IMF's report (Financial System Stability Assessment, FSSA), which was adopted by the IMF Board of Directors on 13 March 2023, provides an account of the main assessments and recommendations regarding Sweden’s financial sector. The report is available on the IMF's website.
The Debt Office's operations shall be characterized by an openness to the public and the media. The right of access to official business is a cornerstone of Swedish democracy.
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