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Swedish cbank head says banks counter-cyclical buffer should be 2.5 pct
May 23, 2014 / 10:42 AM / 3 years ago

Swedish cbank head says banks counter-cyclical buffer should be 2.5 pct

STOCKHOLM, May 23 (Reuters) - A countercyclical buffer to be introduced in Sweden to strengthen banks’ capital should be set at 2.5 percent of assets, higher than the 1.0 percent proposed by the country’s FSA, central bank Governor Stefan Ingves said on Friday.

“I think it should be set at 2.5 (percent), because we are carrying a burden as a result of the fact that debts have risen very quickly for such a long period and we can’t get away from that fact,” Ingves told reporters.

“I think we should do this as quickly as possible.” (Reporting by Johan Ahlander; Editing by Alistair Scrutton)

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