Press releases and news

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).

Climate change can affect financial stability

News 16 December 2021 About the Debt Office, Consultations

Director General of the Debt Office Hans Lindblad answers questions on how climate issues affect the tasks of the Debt Office.

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...

Uneven decrease in market expectations of government support for systemically important banks

News 23 June 2021 Financial stability, About the Debt Office, Focus Report

An article in the Riksbank’s periodical The Economic Review (Swedish title: Penning- och valutapolitik) demonstrates a decline since 2012 in market expectations of government support for systemically important banks. Nevertheless, expectations that the state will intervene if a systemically...

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.

Surplus for Swedish central government in May 2021

Press release 7 June 2021 Central Government Borrowing, Government Debt

Swedish central government payments resulted in a surplus of SEK 36.9 billion in May, which was in line with the Debt Office's forecast. Central government tax income were slightly higher than expected, but at the same time payments were higher.

The compliance of banks with MREL requirements – Q1 2021

Press release 31 May 2021 Financial stability

At the end of the first 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.

Strong economic recovery reduces central government borrowing requirement

Press release 27 May 2021 Central Government Borrowing

The Swedish economy is recovering increasingly faster after last year's drop resulting from the pandemic. The higher economic growth leads to increased income from taxes for the central government and thereby a stronger budget balance, lower borrowing requirement, and lower debt. The Debt Office is...

Deficit for Swedish central government in April 2021

Press release 7 May 2021 Central Government Borrowing, Government Debt

Swedish central government payments resulted in a deficit of SEK 16.9 billion in April. The Debt Office's forecast was a deficit of SEK 24.9 billion. Central government tax income were slightly higher than expected, while the Debt Office's net lending was lower.

Surplus for Swedish central government in March 2021

Press release 9 April 2021 Central Government Borrowing, Government Debt

Swedish central government payments resulted in a surplus of SEK 9.2 billion in March. The Debt Office's forecast was a deficit of SEK 22.1 billion. The higher than expected budget balance is in large part explained by payments of tax that should have taken place in February instead being made in...

Surplus for Swedish central government in February 2021

Press release 5 March 2021 Central Government Borrowing, Government Debt

Swedish central government payments resulted in a surplus of SEK 47.3 billion in February. The Debt Office's forecast was a surplus of SEK 53.1 billion. The lower surplus than expected is explained by delayed payments due to technical problems at a framework agreement bank.

The compliance of banks with MREL requirements – Q4 2020

News 2 March 2021 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.

State finances are strengthened as Riksbank repays loans

Press release 24 February 2021 Central Government Borrowing

The recovery of the Swedish economy continues, after a temporary dip during the beginning of the year, thereby gradually strengthening central government finances. But other factors also have a major impact on the budget this year and in 2022. The pandemic remains at the forefront of the...

Terms for switches in inflation-linked bond SGB IL 3108

Press release 19 February 2021 Central Government Borrowing

The Swedish National Debt Office offers switch auctions in inflation-linked bond SGB IL 3108 with the aim of decreasing the outstanding volume to around SEK 25 billion before the bond’s time to maturity is shorter than one year. The switch auctions will be held on 19, 22 and 23 of March.

Increased government debt in 2020 amid pandemic

News 19 February 2021 Central Government Borrowing, Government Debt

The Swedish National Debt Office today submitted its basis for evaluation of debt management in 2020 to the Government. The year was dominated by the pandemic, which led to a large budget deficit and a rapid increase in central government borrowing. The Debt Office also issued a green bond for the...

Clarification regarding referral to Council on Legislation about changes to regulations for managing financial firms in crisis

News 18 February 2021 Financial stability

On 11 February 2021, the Swedish Government decided on a proposal referred to the Council on Legislation for consideration, concerning revisions to the regulations for managing financial firms in crisis. The Swedish National Debt Office is hereby making some clarifications in regard to what the...

Government guarantee programme for companies is extended to 30 June 2021

Press release 11 February 2021 Guarantees and Lending, Covid-19

The Swedish Government and the Riksdag have decided to extend the Government guarantee programme for companies. The programme is a credit guarantee scheme that was introduced to mitigate the damage to the economy from the coronavirus crisis.

Surplus for Swedish central government in January 2021

Press release 5 February 2021 Central Government Borrowing, Government Debt

Swedish central government payments resulted in a surplus of SEK 7.7 billion in January. The Debt Office's forecast was a deficit of SEK 10.6 billion.

Terms for switches in inflation-linked bond SGB IL 3108

Press release 15 January 2021 Central Government Borrowing

The Swedish National Debt Office offers switch auctions in inflation-linked bond SGB IL 3108 with the aim of decreasing the outstanding volume to around SEK 25 billion before the bond’s time to maturity is shorter than one year. The initial switch auctions will be held on 5 and 8 of February.

Central government deficit of SEK 221 billion in 2020

Press release 12 January 2021 Central Government Borrowing, Government Debt

Swedish central government payments, as well as the central government budget balance, resulted in a deficit of SEK 221 billion in 2020. The Debt Office's forecast from October was a deficit of SEK 256 billion.

Debt Office provides guarantee for Braathens Regional Airways

Press release 31 December 2020 Guarantees and Lending, Covid-19

The Swedish National Debt Office has issued a credit guarantee for a loan of SEK 200 million to the airline Braathens Regional Airways AB. The guarantee is being granted under the state guarantee programme for airlines that was introduced to mitigate the economic impact of the coronavirus pandemic.

Debt Office is prepared for extended Government guarantee programme for companies

Press release 17 December 2020 Guarantees and Lending, Covid-19

The Swedish Government has proposed to extend the state credit guarantee scheme known as the Government guarantee programme for companies so that guarantees can be issued up to and including 30 June 2021. The programme is administered by the Swedish National Debt Office and is part of the measures...