Petition to the Government on legislative amendments for effective management of the deposit requirement
News The Riksbank has decided to submit a petition to the Government for legislative amendments to extend the use of information from the database for oversight and supervision of the financial market. The purpose of the petition is to be able to use information from the database to calculate the size of credit institutions' interest-free deposits at the Riksbank.
As of 1 January 2025, the Riksbank has been able to require credit institutions to hold interest-free deposits at the Riksbank when the equity falls below a certain level. This means that the Riksbank may require that a share of a credit institution's deposits and issued debt instruments shall correspond to the institution's deposits at the Riksbank. The purpose of the interest-free deposits is to strengthen the Riksbank's possibilities for self-financing.
Information on credit institutions' assets and liabilities is already collected under the Riksbank's regulations. This information is compiled in a common database, the use of which is governed by the Act on a database for oversight and supervision of the financial markets. However, at present the Riksbank may only use the information in the database for activities relating to the financial system and for the production of statistics. In this petition, the Riksbank proposes legislative amendments so that it will also be possible to use the information to calculate the deposit requirement. This would avoid parallel collection, which reduces costs for both credit institutions and the Riksbank, and enables efficient management of the deposit requirement.
It is proposed that the legal amendments enter into force on 1 January 2026. However, the Riksbank intends to introduce the deposit requirement already in the second half of 2025, which means that another solution will temporarily be used to collect the information needed to calculate the deposit requirement for 2025.