The Swedish National Debt Office prepares for new bank resolution framework
Press release 12 August 2013
The Debt Office has submitted a proposal to the Swedish government concerning preparations for the forthcoming Bank Recovery and Resolution Directive. The proposal clarifies how the work should be undertaken so that a new authority can be operative when the Directive comes into force on 1 January 2015.
A central part of the forthcoming regulations is that each country should appoint a national resolution authority for the planning in case of a financial crisis.
– The Debt Office currently has the role of support agency and deposit insurer in Sweden. Given our present assignment it is desirable for us to keep momentum in the process of preparing for the new authority, says Director General, Hans Lindblad.
The decision as to which authority should be appointed this responsibility can be taken no earlier than the second half of 2014. But in order to be operative by 2015 preparations for the new resolution authority has to start as soon as possible. The preparatory work will be formed to be utilized irrespective of which authority is assigned by the government.
For more information, please contact:
Linda Rudberg, press relations, +46 8 613 45 38