Press releases and news

Compliance with the minimum requirement for own funds and eligible liabilities – Q1 2022

Press release 17 June 2022 Financial stability

All systemically important banks and other institutions were compliant with the minimum requirement for own funds and eligible liabilities (MREL) at the end of the first quarter. Today, the Swedish National Debt Office released its new quarterly report on MREL compliance.

Surplus for Swedish central government in May 2022

Press release 8 June 2022 Central Government Borrowing, Government Debt

Swedish central government payments resulted in a surplus of SEK 69.2 billion in May. The Debt Office's forecast was a surplus of SEK 74.3 billion. The difference is due to lower tax income than estimated. At the same time, disbursements from government agencies and the Debt Office’s net lending...

Debt Office becomes resolution authority for central counterparties

News 1 June 2022 Financial stability

Yesterday, the Riksdag appointed the Swedish National Debt Office as the resolution authority for central counterparties – a role that the agency already has for banks and other financial institutions. Resolution is a specific procedure for the orderly crisis management of a bank or central...

Smaller surplus in Sweden’s government budget

Press release 24 May 2022 Central Government Borrowing

Lower economic growth, increased government spending, and an outflow of capital from tax accounts weigh on the central government budget. At the same time, higher inflation leads to increased income from VAT. Altogether, the Debt Office now expects a lower budget surplus for the central government...

Deficit for Swedish central government in April 2022

Press release 6 May 2022 Central Government Borrowing, Government Debt

Swedish central government payments resulted in a deficit of SEK 16.0 billion in April. The Debt Office's forecast was a deficit of SEK 7.4 billion. The difference is due to higher disbursements from state agencies and lower tax income than calculated.

Terms for switch to government bond SGB 1065

Press release 5 May 2022 Central Government Borrowing

The Swedish National Debt Office will offer a switch to government bond SGB 1065 2nd of June.

Debt Office decides on first green credit guarantee

Press release 25 April 2022 Guarantees and Lending

The Swedish National Debt Office has decided to issue a credit guarantee to AB Svensk Exportkredit (SEK) for a loan of 3 billion kronor within the framework of the guarantee scheme for large green industrial investments. The investment is for converting Preem’s refinery in Lysekil in order to...

Debt Office plans to comply with guidelines on improving resolvability

News 21 April 2022 Financial stability

The Swedish National Debt Office – Sweden’s resolution authority – has informed the European Banking Authority (EBA) that it intends to comply with the EBA’s guidelines for institutions and resolution authorities on improving banks’ resolvability.

Surplus for Swedish central government in March 2022

Press release 7 April 2022 Report – Central Government Borrowing, Central Government Borrowing, Government Debt

Swedish central government payments resulted in a surplus of SEK 23.4 billion in March. The Debt Office's forecast was a surplus of SEK 19.9 billion. The difference is mainly explained by the Debt Office’s net lending being lower than expected. At the same time, both tax income and payments from...

Two new department heads at Swedish National Debt Office

Press release 4 April 2022 About the Debt Office

Today, Klas Granlund starts as the department head of Debt Management and Erika Färnstrand Damsgaard takes up the corresponding role for the Economic Analysis department.

Debt Office clarifies how EBA resolvability guidelines will be applied in resolution planning process

News 29 March 2022 Financial stability

On 13 January, the European Banking Authority (EBA) published guidelines on improving resolvability for institutions and resolution authorities. These guidelines take effect on 1 January 2024. The Swedish National Debt Office – which is Sweden’s resolution authority – has previously communicated...

The compliance of banks with MREL requirements – Q4 2021

Press release 8 March 2022 Financial stability

At the end of the fourth quarter, all banks complied with the minimum requirements for own funds and eligible liabilities (MREL requirements) set by the Swedish National Debt Office. This is presented in the Debt Office’s latest quarterly report published today. This is the last report presenting...

Surplus for Swedish central government in February 2022

Press release 7 March 2022 Central Government Borrowing, Government Debt

Swedish central government payments resulted in a surplus of SEK 85.6 billion in February. The Debt Office's forecast was a surplus of SEK 74.2 billion. The difference is mainly explained by higher tax income.

Strong economy leads to larger budget surplus and lower government debt

Press release 24 February 2022 Central Government Borrowing

Sweden’s economy will continue to grow at a good pace in 2022 despite a setback at the beginning of the year. This contributes to further strengthening central government finances and to a lower debt. It also entails a lower borrowing requirement. The Swedish National Debt Office is therefore...

Debt Office’s role within resolution grows

News 22 February 2022 Financial stability, About the Debt Office

The Government has decided on a referral to the Council on Legislation proposing that the Swedish National Debt Office be made the resolution authority for central counterparties as well. Central counterparties have become increasingly important actors in the financial system with greater...

Stronger central government finances and lower government debt in 2021

News 18 February 2022 Report – Evaluation of central government debt man, Central Government Borrowing, Government Debt

The Swedish National Debt Office today submitted its basis for evaluation of debt management in 2021 to the Government. The year was dominated by an unexpectedly quick economic recovery, which contributed to a surplus in central government finances, lower borrowing requirement and a lower...

Surplus for Swedish central government in January 2022

Press release 7 February 2022 Central Government Borrowing, Government Debt

Swedish central government payments resulted in a surplus of SEK 0.8 billion in January. The Debt Office's forecast was a deficit of SEK 0.5 billion.

Karolina Ekholm takes up position today as Director General of Swedish National Debt Office

Press release 1 February 2022 About the Debt Office

Karolina Ekholm has extensive experience within macroeconomics and financial stability. Up until starting as Director General of the Swedish National Debt Office, she has been a professor at the Department of Economics, Stockholm University. She has previously served as Deputy Governor of the...

The Government has decided on nuclear waste fees for 2022–2023 in accordance with the Debt Office's proposal

Press release 31 January 2022 Financing of Nuclear Waste

At the meeting on 27 January, the Government decided on nuclear waste fees to be paid by the reactor owners as well as the credit risk amounts and risk margins for which the reactor owners are to provide financial security in 2022 and 2023. The Government's decision follows the Swedish National...

The EBA publishes resolvability guidelines

News 14 January 2022 Financial stability

The European Banking Authority (EBA) has, on 13 January, published guidelines on resolvability. The guidelines introduce an EU-wide minimum standard for resolvability within a number of areas, and are chiefly addressed to systemically important banks. The guidelines aim to improve the resolvability...

Central government surplus of SEK 78 billion in 2021

Press release 11 January 2022 Central Government Borrowing, Government Debt

Swedish central government payments, as well as the central government budget balance, resulted in a surplus of SEK 78 billion in 2021. The Debt Office's forecast was a surplus of SEK 22 billion.

Debt Office Commentary: Public-private partnership risks being expensive and uncertain for the central government

News 23 December 2021 Publication, Debt Office Commentary

In a PPP contracting arrangement, a private enterprise is appointed – to carry out a state infrastructure project, for instance – which is then repaid by the central government. In Sweden, it has not been particularly common. One of few examples is the New Karolinska Hospital. Abroad, PPP has been more commonplace, for instance in the UK, the Netherlands and France.

 PPP advocators argue that the incentive structure in a PPP generates socioeconomic efficiencies. In a PPP, project payment is also deferred, and there is thus no near-term burden on the central government budget, which might appeal to decision-makers.  

However, potential benefits are unsure and are outweighed by the drawbacks, according to the Debt Office economists in their commentary. Transparency surrounding decisions will be impaired, and financing will be more expensive because private-sector entities have a lower credit rating than the central government. A number of conducted empirical studies also appear to support this conclusion. In the UK for example, PPP is no longer used.

The authors round off their commentary by advising the central government against using PPP. 

Read the commentary in full here

Clear drawbacks and uncertain benefits. This is the conclusion drawn by Debt Office economists Carl Oreland and Magnus Thor following their analysis of public-private partnership (PPP) in a commentary.

Decisions on resolution plans and MREL

Press release 17 December 2021 Financial stability

The Debt Office has made this year’s decisions on resolution plans and minimum requirements for own funds and eligible liabilities (MREL).

Surplus for Swedish central government in November 2021

Press release 7 December 2021 Central Government Borrowing, Government Debt

Swedish central government payments resulted in a surplus of SEK 37.6 billion in November. The Debt Office's forecast was a surplus of SEK 14.6 billion. The difference is mostly explained by lower than anticipated payments from government agencies.

The compliance of banks with MREL requirements – Q3 2021

Press release 2 December 2021 Financial stability

At the end of the third quarter, all banks complied with the minimum requirements for own funds and eligible liabilities (MREL requirements) set by the Swedish National Debt Office. This is presented in the Debt Office’s latest quarterly report published today.

Debt Office publishes report on Sweden's sovereign green bond

Press release 22 November 2021 Central Government Borrowing

The Swedish National Debt Office is today publishing a report on how the funds raised with the sovereign green bond have been allocated, and how they contribute to fulfilling Sweden’s environmental and climate objectives.

IMF to assess financial stability in Sweden

News 19 November 2021 Financial stability

The International Monetary Fund (IMF) will conduct a review of the financial sector and the work of the authorities on financial stability, a so-called FSAP (Financial Sector Assessment Program) in 2022.

NatWest Markets terminates primary dealer agreement for Swedish government bonds

News 8 November 2021 Central Government Borrowing

NatWest Markets N.V. has informed the Swedish National Debt Office that its primary dealer agreement in Swedish Government Bonds will be terminated as of from 8 November 2021.

Surplus for Swedish central government in October 2021

Press release 5 November 2021 Central Government Borrowing, Government Debt

Swedish central government payments resulted in a surplus of SEK 3.3 billion in October. The Debt Office's forecast was a deficit of SEK 14.1 billion. The difference is explained by lower than anticipated payments from government agencies and net lending by the Debt Office.

Debt management guidelines are unchanged – the Debt Office is given preconditions for additional green bond issuance

News 4 November 2021 Central Government Borrowing, Government Debt

The Swedish Government has decided on guidelines for managing the central government debt. The Government intends to make a decision in the beginning of 2022 that will give the Swedish National Debt Office the possibility of issuing additional government green bonds.

Faster recovery lowers borrowing requirement for central government

Press release 27 October 2021 Central Government Borrowing

Sweden's economy and central government finances are recovering faster than expected from the pandemic. The central government borrowing requirement thereby decreases further, and the Swedish National Debt Office is reducing its bond borrowing in both kronor and foreign currency. The central...

The Debt Office decides on new application of the minimum requirement for own funds and eligible liabilities (MREL)

Press release 18 October 2021 Financial stability

Today, the Swedish National Debt Office is publishing its policy for how the minimum requirement for own funds and eligible liabilities (MREL) will be applied for banks and other institutions – the MREL policy.

Surplus for Swedish central government in September 2021

Press release 7 October 2021 Central Government Borrowing, Government Debt

Swedish central government payments resulted in a surplus of SEK 11.5 billion in September. The Debt Office's forecast was a surplus of SEK 14.2 billion. The difference is explained by lower than anticipated tax income and higher payments from government agencies. This was partially countered by...

Planned switch auction in 1063 bond replaced by outright sale

Press release 23 September 2021 Central Government Borrowing

The Swedish National Debt Office will replace its planned switch auction in government bond 1063 with an outright sale as part of a regular auction. The Debt Office will offer SEK 500 million of this bond in the regular auction on 20 October 2021.

Debt Office proposes largely unchanged guidelines for debt management

Press release 17 September 2021 Central Government Borrowing, Government Debt

The Swedish National Debt Office proposes no significant revisions to the guidelines for managing the central government debt. The proposed guidelines for 2022 are being submitted to the Ministry of Finance today.

Surplus for Swedish central government in August 2021

Press release 7 September 2021 Central Government Borrowing, Government Debt

Swedish central government payments resulted in a surplus of SEK 43.4 billion in August. The Debt Office's forecast was a surplus of SEK 21.3 billion. The higher than expected budget balance is primarily explained by higher than anticipated tax income at the same time as payments from government...

The compliance of banks with MREL requirements – Q2 2021

Press release 3 September 2021 Financial stability

At the end of the second quarter, all banks complied with the minimum requirements for own funds and eligible liabilities (MREL requirements) set by the Swedish National Debt Office. This is presented in the Debt Office’s latest quarterly report published today

Surplus for Swedish central government in July 2021

Press release 6 August 2021 Central Government Borrowing, Government Debt

Swedish central government payments resulted in a surplus of SEK 8.1 billion in July. The Debt Office's forecast was a deficit of SEK 6.3 billion. Central government tax income were higher than expected while disbursements from government agencies were lower.

Terms for switches to inflation-linked bond SGB IL 3115

Press release 5 August 2021 Central Government Borrowing

The Swedish National Debt Office will offer switches to government bond SGB IL 3115 from SGB IL 3111, SGB IL 3114 and SGB IL 3104 during the period 3 September – 7 September. The total volume offered of SGB IL 3115 is SEK 3.75 billion.

The National Debt Office is issuing a term loan facility to SAS

Press release 16 July 2021 Guarantees and Lending

On behalf of the government, the Debt Office has issued a term loan facility of SEK 1.5 billion to SAS. The loan facility is part of a joint action whereby the Danish government makes an equally large commitment. The loan facility can be utilised until 31 December 2022. Repayment of any loans made...

The Debt Office’s guidelines proposal for 2013–2016

Press release 13 July 2021 Government Debt

The Debt Office proposes additions to two areas in this year’s proposal. They are related to position taking and management of financing risks. The objective is to further formalise risk management and positions in foreign currency.

Deficit for Swedish central government in June 2021

Press release 7 July 2021 Central Government Borrowing, Government Debt

Swedish central government payments resulted in a deficit of SEK 34.0 billion in June. It was a smaller deficit than the Debt Office’s forecast, where the deficit was estimated at SEK 35.3 billion. The difference is explained by the Debt Office’s net lending being lower than expected, which...

Information about permission to repurchase eligible liabilities

News 6 July 2021 Financial stability

In accordance with the Capital Requirements Regulation, a bank or institution must apply for permission from the Swedish National Debt Office in order to call, redeem, repay, or repurchase eligible liabilities.

Debt Office proposes new application of the Minimum Requirement for Own Funds and Eligible Liabilities (MREL)

Press release 2 July 2021 Financial stability

Today, the Swedish National Debt Office is submitting a consultation memorandum proposing the application of new rules under the Resolution Act (2015:1016) that pertain to the requirement for own funds and eligible liabilities.

Consultation memorandum: Debt Office proposes revised application of the Minimum Requirement for Own Funds and Eligible Liabilities (MREL)

News 2 July 2021 Financial stability, About the Debt Office, Consultations

Today, the Swedish National Debt Office is submitting a consultation memorandum proposing the application of new rules under the Resolution Act (2015:1016) that pertain to the requirement for own funds and eligible liabilities.

Swedish insolvency ranking

News 29 June 2021 Financial stability

The Debt office has compiled information on the ranking of items in Swedish insolvency proceedings.

Debt Office Commentary: More efficient management of Swedish government agencies’ international payments

News 28 June 2021 About the Debt Office, Guarantees and Lending

Swedish government agencies’ liquidity management in foreign currency is continually improving. Since 2017, the Swedish National Debt Office has offered a multi-currency cash pool (MCCP) solution. This, in combination with better pricing under the central government framework agreements for...

Sweden raises SEK 10 billion at 1.386 % with 50-year bond

Press release 16 June 2021 About the Debt Office, Government borrowing rate, Government Debt

The Kingdom of Sweden raised SEK 10 billion at a yield of 1.386 per cent in the planned sale of a 50-year government bond. The new bond will be the longest outstanding loan in Sweden’s central government debt.

Government guarantee programme for companies extended until 30 September 2021

Press release 15 June 2021 Guarantees and Lending, Covid-19

The Swedish Government has decided to extend the Government guarantee programme for companies (Företagsakuten) ending 30 June, to 30 September 2021. The guarantee programme for companies is a credit guarantee scheme introduced in the spring of 2020 to mitigate the damage to the economy from the...

Credit guarantees for green investments

Press release 8 June 2021 About the Debt Office, Guarantees and Lending

The Government has given the Swedish National Debt Office a mandate to provide state credit guarantees for investment in green industry.