OSLO, March 13 (Reuters) – The collapse of Silicon Valley Bank (SVB) and some other US banks is unlikely to affect Sweden’s financial stability, Sweden’s financial regulator said on Monday.
The Financial Services Authority (FI) said in a statement it is in close contact with Swedish insurers and pension providers to get a better understanding of its exposure to struggling US banks.
“FI is also in contact with the big Swedish banks. In our estimation, none of them have a large direct exposure to the troubled US banks,” it said.
While the US banking market has seen some turbulence, Swedish banks will be subject to tighter regulation to ensure liquidity buffers are in place and balance sheets protected, she added.
“We are seeing some drama and turmoil in the US banking market. However, our assessment is that the stability of the Swedish financial system will not be affected as it has significant resilience,” said acting FI Director General Susanna Grufman.
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Reporting by Terje Solsvik, editing by Anna Ringstrom
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