Sweden's Riksbank issued a consultation response supporting the Ministry of Finance proposal to establish a dedicated function for operational crisis management in the financial sector, led by the Riksbank. The function is intended to coordinate authorities and firms in both preparatory work and responses to serious operational disruptions in the financial system. The Riksbank argues that, with three authorities currently involved in financial crisis preparedness, a single coordination function with clear responsibilities should improve cooperation during major incidents and reduce the risk of overlapping coordination structures. It expects the arrangement to clarify the division of responsibilities between the Riksbank’s role in ensuring payments during peacetime crises and heightened preparedness, and the Swedish Financial Supervisory Authority’s role as sectoral authority for financial services, while leaving participants’ formal powers unchanged under the responsibility principle. The response also supports the proposed participant set and the ability to invite additional actors, notes potential costs linked to information-security compliant technical solutions and any specially adapted premises, and raises no objections to a proposed duty to cooperate with the Swedish Financial Supervisory Authority, the Swedish National Debt Office, the Swedish Civil Contingencies Agency and other relevant authorities, subject to the Riksbank’s independence and each authority’s autonomous decision-making.

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