Regulations regarding clearing and settlement of payments

The Swedish Financial Supervisory Authority issued these regulations to supplement the Clearing and Settlement of Payments Act, applying to Swedish and foreign clearing company branches. The rules mandate enhanced requirements for risk management, IT security, capital, and governance to adapt to digitalization and increase payment system resilience. Amendments aligning the clearing regulations with existing financial institution standards enter into force on 17 January 2025.

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In force from 2024-07-01

Summary

The regulations apply to Swedish clearing companies and branches of foreign clearing companies. The regulations supplement the requirements set forth in the Clearing and Settlement of Payments Act (2024:114) that enters into force on 1July 2024. This act places requirements on a clearing company's risk management, information, IT and cyber security, preparedness, capital, governance and outsourcing agreements. The aim is to adapt the requirements on clearing business to the digitalisation and international developments as well as to increase resilience in the payment system.

Amendments

New sections are inserted into Chapter 3 of the clearing regulations that correspond to Chapter 5, section 4 of Finansinspektionen's regulations and general guidelines (FFFS 2014:1) on governance, risk management and control in credit institutions and Chapter 5, sections 10–14 of Finansinspektionen's regulations and general guidelines (FFFS 2014:4) regarding management of operational risks. The references in the clearing regulations to the provisions are therefore being removed.

The amendments enter into force on 17 January 2025. Amendment 2024:34

Documents

FFFS 2024:5

Changes

Number

FFFS 2024:34

Date

2025-01-17

Heading

FFFS 2024:34

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Lineage: In force

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Source: Finansinspektionen — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works