Sweden's Riksbank petitions government to expand Statistics Sweden database access for calculating deposit requirements

Sweden's Riksbank has decided to submit a petition to the Government seeking legislative amendments that would let it use information in the financial market oversight and supervision database at Statistics Sweden to calculate credit institutions’ required interest-free deposits at the Riksbank. Since 1 January 2025, the Riksbank has been able to impose a deposit requirement when its equity falls below a target level, requiring a share of a credit institution’s deposits and issued debt instruments, excluding certain liabilities, to correspond to deposits held at the Riksbank. The requirement applies to Swedish credit institutions and branches of foreign credit institutions. While the relevant balance-sheet data is already collected under the Riksbank’s reporting rules and stored in the common database, current law limits the Riksbank’s use of the database to financial system activities and statistics. The petition would add “deposit requirements” to the database’s permitted purposes, provide the Riksbank with direct access for that activity, and adjust secrecy provisions so Statistics Sweden can disclose the data for this purpose, avoiding duplicate reporting and parallel data collection. The Riksbank proposes that the amendments enter into force on 1 January 2026. It nevertheless intends to introduce the deposit requirement in the second half of 2025 and will temporarily use another method to collect the information needed for the 2025 calculations.