March 13, 2020 / 10:02 AM / 23 days ago

Swedish FSA sees no direct effects so far in financial market from coronavirus crisis

STOCKHOLM (Reuters) - Sweden’s Financial Supervisory Authority’s current assessment is that financial stability in the country is not threatened by the coronavirus crisis although uncertainty about its fallout is extreme, the head of the authority said on Friday.

“So far we see no direct effects ... in the financial market in the form of credit losses and such but there is every reason to follow this very closely,” the financial watchdog’s director general Erik Thedeen told a news conference.

He was speaking after the authority said it had lowered the so called counter cyclical capital buffers for the country’s banks to allow them to maintain credit supply.

Reporting by Anna Ringstrom, editing by Johan Ahlander

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