The financial supervisory authority shall be able to take more action to counteract financial imbalances in the credit market, according to a proposal that the government submitted a referral to the Council.
It writes to the finance ministry in a press release on Thursday.
”The proposal receive the financial supervisory authority with a stronger mandate to propose additional tools for macro-prudential supervision. The proposal means that the process to implement the new requirements, which among other things will have an impact on the mortgage market becomes clearer and faster”, says financial markets Per Bolund in a comment.
In Swedish it is proposed that the Fsa should be given enhanced legal support to be able to take measures to counteract financial imbalances in the credit market, for example, with regard to household indebtedness. Because this type of action can have effects both on the macroeconomic environment on the individual’s economy, it is proposed that the financial supervisory authority shall obtain the government’s consent before any new regulations are decided.
The proposals in the Swedish following of the political agreement reached between the government, the bourgeois parties and the Left party in October 2016, on an enlarged mandate for the Swedish financial supervisory authority.
Amendments are proposed to enter into force on 1 February 2018.
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