Minutes of the Financial Stability Council Meeting of 8 June 2026

2026-06-18 Ministry of Finance Financial Stability Council Minutes of the Financial Stability Council's meeting on 8 June 2026

§ 1 Stability Assessment, Civil Preparedness, and Measures The authorities presented their stability assessments, views on civil preparedness, and discussed the need for measures.1

The Minister for Finance summarized the situation as follows. The financial system in Sweden is stable. Geopolitical and economic uncertainty remains high and has increased further during the spring due to the war in the Middle East. The conflict has increased the probability of rising inflation and higher interest rates, which, in combination with high debt levels, can constitute vulnerabilities. Despite this, financial markets are characterized by significant risk appetite and high asset valuations, which entails a risk of large and sudden price movements. Several negative events could occur simultaneously and trigger a negative development in the financial sector. Stability risks need to continue to be monitored.

The security policy situation remains serious, which places high demands on our preparedness to meet operational risks in the financial sector, for example cyberattacks. As part of this, the new function for operational crisis management in the financial sector will be established on 1 July, for which the Riksbank is responsible.2 Crisis exercises are an important part of the work to strengthen this preparedness and build resilience.

It remains important to follow how structural transformation within financial services develops. The increased use of new technical solutions can offer opportunities but also places demands on risk management, supervision, and consumer protection. This is central to preserving confidence in the financial markets and, in the long run, ensuring financial stability.

The Government has taken measures to mitigate the negative effects of the war in the Middle East. However, uncertainties are large, and the recovery in the Swedish economy may be affected.

The resilience of the Swedish major banks remains good, and their direct exposures to the Middle East are limited. It is crucial for stability that market participants take significant responsibility for their own financial and operational resilience.

§ 2 Crisis Exercises The Stability Council discussed the crisis exercises planned for the authorities in the Stability Council.

§ 3 Vulnerabilities and Dependencies The Stability Council discussed the Swedish financial system's dependencies on other countries and to what extent these dependencies could be exploited for influence purposes.

§ 4 International Issues The Ministry of Finance and the authorities informed each other about work on financial market issues internationally, both within the European Union and global standard-setting bodies.

§ 5 Completed Work within the Stability Council The Ministry of Finance informed about the work carried out since the previous meeting.

The Stability Council's next ordinary meeting is in December 2026.

1 Present: Ministry of Finance: Niklas Wykman, Chair of the Meeting, Erik Eldhagen, Anna Jegnell; Riksbank: Erik Thedéen, Aino Bunge, Olof Sandstedt; Financial Supervisory Authority: Johan Almenberg, Malin Alpen, Jon Thor Sturluson; Swedish National Debt Office: Karolina Ekholm, Erika Färnstrand Damsgaard; and the Secretariat of the Financial Stability Council: Niclas Alsén. 2 The Riksbank published its report Financial Stability 2026:1 on 29 May, and the Financial Supervisory Authority published its report Financial Stability and Preparedness (2026:1) on 20 May.