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Swedish central bank says own risk buffer needs to be bigger -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO A view from the general area of Sweden’s central Bank in Stockholm, Sweden on August 12, 2016. Picture taken August 12, 2016. REUTERS/Violette Goarant

STOCKHOLM – The Swedish central bank stated Wednesday that the country needed to raise its financial buffer to 15 billion Swedish crowns (1.67 billion) in order to protect itself against future losses from its increased balance sheet.

In a statement, the central bank explained that although Riksbank has the ability to manage increased risks, they need to preserve equity capital in order to be able to sustain financial independence over the long-term.

“The Riksbank feels that SEK 15 to 40 million is necessary to strengthen the risk buffer to lower the possibility of Riksbank capital becoming too low.”

($1 = 8.9873 Swedish crowns

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