On Jun. 19, SWE NDO proposed to amend deposit guarantee regs.
SWE NDO issued a consultation proposing changes that entail changes to the weights of risk indicators and to change the calculation method for summed risk weights.
The reporting obligation for an institution will be extended with regard to guaranteed deposits in client funds accounts and in cross-border operations within the EEA.
Effectiveness
The amended regulations are proposed to enter into force on Jan. 1, 2025.
The deadline for response to the consultation is Sep. 9, 2024.
Sep. 2024 SWE FI Response
On Sep. 3, 2024, SWE FI issued response indicating its support for proposed amended regulations on the deposit guarantee, which mainly concerns the fees' calculation.
Nov. 2024 Regulations Changed
On Nov. 6, 2024, SWE NDO confirmed that it had decided on changes to its regulations (RGKFS 2016:2) on deposit guarantees, involving changes in how fees are calculated.
The Decision Memorandum following the previous consultation, dated Oct. 21, 2024, set out SWE NDO's basis for proceeding, as well as commenting on the consultation.
All of the banks and institutions covered by the deposit guarantee pay an annual fee to SWE NDO, which is the responsible guarantee authority to fund the guarantee scheme.
The fee is primarily based on institution's risk level and its total guaranteed deposits.
The amended regulations mean that changed weights for risk indicators will now apply and that the current calculation method for all of the summed risk weights is changed.
In addition, the reporting obligation for an institution regarding guaranteed deposits on client funds accounts, and cross-border operations within the EEA has been expanded.
The information submitted to SWE NDO must also continue to be submitted to SWE FI, with changes mainly aimed at adapting these regulations to EBA's revised guidelines.
These amended regulations (RGKFS 2024:1), dated Nov. 4, 2024, will now all enter into force, with effect from Jan. 1, 2025, applying all the relevant amendments made.
