Riksbank presents new Financial Stability Report
Household sector indebtedness has continued to rise during the autumn. At the same time there are currently no indications that this could cause the banks’ any sizeable loan losses. This is one conclusion of the Riksbank’s Financial Stability Report, published today. The Report shows that the indebted households will also continue to have relatively good margins to meet their debt-servicing payments.
Given the economic outlook presented by the Riksbank in the October Inflation Report, which depicted a continued stable upswing in the Swedish economy, there are presently no signs of risks that could cause the major Swedish banks significant problems. Should any unexpected events nevertheless occur, the prospects are good for the major banks to be able to manage these, given their increasing resilience. The Report also presents on this occasion a survey of the banks’ pricing of different payment services. This shows that the banks’ prices only in exceptional cases reflect the costs they incur for their services. The banks’ fees for services that are cheap to produce cover costs for the services for which the prices do not meet the production costs. By setting prices that better reflect the costs the banks should be able to reduce their total costs. That should lead to lower total costs for the banks customers as well. A press conference with Deputy Governor Lars Nyberg and Martin Andersson, Head of the Financial Stability Department, will be held today at 10.30 a.m. at the Riksbank, entrance from Brunkebergstorg 11. Press cards must be shown. The Report can be downloaded from the Riksbank’s website, www.riksbank.se, under the headings Published/Publications/Financial Stability Report, or ordered by e-mail, , fax +46 8 787 05 26 or tel. +46 8 787 00 00. It is also available at the Riksbank’s main entrance at Brunkebergstorg 11. [email protected]