Swedish Finmin says bank funding not a problem

(Reuters) - Sweden's finance minister said on Friday there were no signs of disruptions in the Swedish financial system, despite high levels of stress in the market.

Stock indexes round the globe have tumbled in recent days on growing worries that debt problems in Europe and the United States will spark a global recession.

Banking stocks in particular have been hit. However, unlike the last crisis in 2008, banks in Sweden have not yet had difficulty in accessing liquidity.

"We have not seen any sign disruption in the Swedish system," Finance Minister Anders Borg told reporters.

"The stress level is high, but the situation is calmer than we previously experienced."

Borg said banks had bigger capital buffers and better funding profiles than in 2008, and the financial system was more solid, adding the nature of the crisis was also different.

"What was so special about 2008 was that there was a risk that large losses in the Baltic would undermine banks' equity," Borg said. "Our judgment is that we don't see such a palpable risk on the horizon today."

Of Sweden's four main banks, three had large exposure to the Baltic region during the last crisis and had to put aside large sums to cover bad and doubtful loans.

Swedbank, the biggest bank in the Baltics, made a 9.5 billion Swedish crown ($1.5 billion) loss in 2009.

The head of Sweden's markets watchdog said on Monday that Swedish banks were among Europe's strongest and were well placed to ride out the current market turmoil.

(Editing by Will Waterman)