"The sector investigation will give us good, up-to-date knowledge about the banking market, so that we can assess whether to proceed," says Mads Magnussen, head of the Swedish Competition Authority.
In a formal market investigation, the Competition Authority can decide on mandatory measures banks must take. Experience from other countries shows that this type of intervention can bring great benefits to consumers, according to the authority.
According to the authority, previous investigations have shown low customer mobility, growth barriers for challengers in the sector, and suspicions of coordination of interest rates.
