June 18, 2018 / 6:59 AM / 5 months ago

Swedish Debt Office says mid-sized institutions should meet MREL

STOCKHOLM, June 18 (Reuters) - The Swedish National Debt Office said on Monday six mid-sized institutions, critical for the financial system, should also have minimum levels of buffers in case of a financial crisis.

The Debt Office said Landshypotek, Lansforsakringar, SBAB, Skandiabanken, Sparbanken Skane and The Swedish Export Credit Corporation should meet the minimum requirement for own funds and eligible liabilities (MREL).

In December the Debt Office set the minimum level of buffers the country’s major banks need to prevent taxpayers from bearing the burdens of any eventual bank bailout.

All systematically important institutions must gradually build up the volume of subordinated liabilities required to meet the minimum requirement by 2022 at the latest.

Reporting by Stockholm Newsroom

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