June 8, 2017 / 6:47 AM / 6 months ago

Sweden govt outlines revamped bank resolution fee

STOCKHOLM, June 8 (Reuters) - The Swedish government on Thursday outlined its finalised plans for a bank resolution fund, raising the fee as of next year but proposing that the payments be scaled back in the following years.

The government said in a statement the fee would be raised to 0.125 of debt minus guaranteed deposits next year from 0.09 percent currently. However, the fee would drop back to 0.09 percent in 2019 and stay at 0.05 percent in 2020 through 2025.

The government had originally planned to raise the fee to 0.125 percent of total debt minus guaranteed deposits with no end date for the increase.

Nordea, Europe’s eighth-biggest bank by market capitalization had threatened to move its HQ to a neighbouring Nordic country if the Swedish government went ahead with the original plans.

Reporting by Simon Johnson and Niklas Pollard

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