Regulations are amended mainly to avoid double regulation on supervisory regulation.
Includes minor changes and canceling regulations that are no longer deemed relevant.
Note that possible changes that need to be made to SWE FI's regulations due to the changes in the capital adequacy directive are not dealt with in this referral.
Changes are proposed to the following SWE FI regulations and general advice.
Regulations on supervisory requirements and capital buffers (FFFS 2014:12); regulations on special supervision of financial conglomerates (FFFS 2011:26); foreign credit institutions' reporting for significant branches in Sweden (FFFS 2020:9).
Proposes regulations FFFS 2007:4 on reporting of interest rate risk in other activities and FFFS 2014:13 on reporting of internally assessed capital needs cease to apply.
Effectiveness
The changes are proposed to enter into force on Jan. 1, 2025 and regulations on interest rate risk in other operations and the regulations on reporting internally assessed capital requirements are proposed to expire on Dec. 30, 2024.
Written comments on proposals to be submitted no later than Oct. 9, 2024.
All Amendment documents are effective Jan. 1, 2025.
Dec. 2024 Adopted and Repealed Regulations
On Dec. 11, 2024, SWE FI Board of Directors adopted amendments to several regulations, as a result of changes to Supervisory Regulation due to banking rules.
Specifically, when the EU's second banking package is introduced as per Basel III.
SWE FI is making amendments to its regulations and general guidelines (FFFS 2014:12) on prudential requirements and capital buffers (the supervisory regulations).
Amendment FFFS 2024:16 amends regulations and general guidelines (FFFS 2014:12).
Repeals regulations (FFFS 2007:4) on reporting of interest rate risk in other operations and regulations (FFFS 2014:13) on reporting of internally assessed capital needs.
SWE FI has advised the regulations will expire on Dec. 30, 2024, which means that the last reporting date was as of the balance sheet date of Sep. 30, 2024.
This is so the respective amendments can refer to current EU regulations.
Includes s. 4 of SWE FI's regulations and general guidelines (FFFS 2011:26) on special supervision of financial conglomerates, and s. 2 on regulations and general guidelines.
The latter on regulations and general guidelines refers to (FFFS 2020:9) on foreign credit institutions' reporting for significant branches in Sweden.
All Amendment documents are effective Jan. 1, 2025.
