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SvD is publishing an article today about information in a memorandum written by FI regarding Nordea’s capital needs. SvD did not receive the memorandum from FI. As a result, the confidentiality assessment that FI is obligated to conduct pursuant to the Public Disclosure and Secrecy Act has not been conducted.
A memorandum of the type referred to in the article is prepared as internal working material within the framework of FI’s ongoing supervision. The assessment of the bank’s capital needs is based on all available information about the bank’s risks and internal governance and control and is conducted in cooperation with the supervisory authorities in the other countries where the bank is operational. FI’s annual assessment of the major banks’ capital needs will be completed in September.
In its Stability Report, which was published on 26 May 2016, FI made the assessment that Nordea, like all of the other major banks, meets the current capital requirement by a good margin. FI is currently evaluating the major banks’ internal models and discussing with the banks topics such as risk weights for corporate lending. FI has previously determined that this evaluation will result in higher capital requirements (see FI Memorandum, FI’s supervision of banks’ calculations of risk weights for exposures to corporates, published 24 May). As far as we are able to determine at this point in time, the additional capital requirements for Nordea will be significantly lower than what was stated in the article.
