"The Riksbank welcomes the Government's proposal as to how future financial crises should be prevented and managed. It is good that progress is being made in this important issue and that the responsibility for macroprudential policy and the work on financial stability is made clearer," says First Deputy Governor Kerstin af Jochnick.

"We have also emphasised the importance of responsibility for this policy being given to one authority, which is now the case and we are pleased about this," continues Kerstin af Jochnick.

It is also positive that a financial stability council is being established, providing a forum in which Finansinspektionen (the Swedish Financial Supervisory Authority), the Swedish National Debt Office, the Riksbank and the Government can openly present their assessments and recommendations regarding financial stability.

The Riksbank also welcomes the Government's proposal that the banks should contribute to paying the cost of a strengthened foreign currency reserve.