FI wants to see strengthened protection of financial companies

The situation for financial stability has improved somewhat over the past six months, according to a stability report from the Financial Supervisory Authority (FI). However, digitalization and geopolitical risks mean that financial companies must strengthen their protection, according to FI Director Daniel Barr.

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FI wants to see strengthened protection of financial companies
Photo: Jessica Gow/TT

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"It is simply high time for companies to strengthen their ability and protect their operations. We will also prioritize examining how companies work with this in our supervision going forward", says Daniel Barr according to a press release.

In the report, FI states that Sweden is still in a low-growth economy, but that falling interest rates contribute to increased future optimism.

"At the same time, the uncertain global economic and security policy situation entails increased risks, including in the form of cyberattacks", writes FI in a press release.

A deteriorating geopolitical situation risks leading to setbacks for global trade and higher energy prices, warns Daniel Barr.

This also entails an increased risk of cyberattacks, disinformation, infiltration, and sabotage, according to Barr.

FI states in the report that consumption is still being dampened by high interest costs.

"But there is a clear expectation of lower interest rates going forward and consumption is likely to pick up again later next year", writes the authority.

Real estate companies with high debt need to continue reducing their debts and strengthening their financial position, according to FI.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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