You are invited to a press conference where the IMF will discuss its assessment of the Swedish financial system

The International Monetary Fund, IMF, has carried out an analysis of the stability of the Swedish financial sector during autumn 2001, as part of its Financial Sector Assessment Program, FSAP.

The press conference will include a presentation of the FSAP and the preliminary results of the assessment by the leader of the IMF delegation, Barry Johnston. Topics will include a discussion of potential vulnerabilities in the Swedish financial system, assessment of Sweden's compliance with international codes and standards, challanges to the financial regulators, and background on the FSAP process. The final report will be completed next summer.

The purpose of the assessments is to identify potential risks in the countries' financial systems, to examine the links between macroeconomic developments and financial stability, to assess the observance and implementation of relevant financial sector standards and codes and, finally, to indicate areas where reforms may be required.

The IMF assesses all of its member countries' financial systems, on a voluntary basis, and has so far completed assessments of just over 40 countries, including Finland, Iceland and Canada. These assessments, which the IMF began in 1999, complement the IMF's annual surveys of member countries' economies (Article IV consultations). The IMF delegation visited Finansinspektionen, the Swedish financial supervisory authority, the Swedish Ministry of Finance, the Riksbank, VPC AB, the OM Stockholm Exchange, banks and insurance companies.

The press conference will take place at the Riksbank at 1 p.m. Entrance is from Brunkebergstorg 11. Press cards must be shown.

Any further questions can be directed to Martin Blåvarg, Deputy Head of the Financial Stability Department, tel.: +46 8 787 02 32.