Credit market institutions in Sweden fall into two main
categories: banking institutions and capital-market institutions.
In addition to the Central Bank, there are two main types
of banks: joint-stock banks (commercial banks) and savings
banks. Since the amendment of banking legislation in 1969
both types of banks are entitled to operate in all areas
of banking.
The activities of banks in Sweden are subject to close
supervision by the Swedish Finance Inspectorate (Finansinspektionen)
to ensure that all necessary standards are met. Financial
statements of Swedish banks meet international standards
very well and are audited only by internationally recognized
auditors.
Sweden's banks have come under
fire from the country's consumer organisations over the
standard practice adopted by all card companies of charging
currency conversion fees on withdrawal transactions made
from ATMs in Eurozone countries. This controversy forms
part of a broader campaign by Sweden's consumer rights organizations,
which are trying to pressure banks to reduce banks charges
on bank cards and account maintenance services.
Swedish Financial Supervisory Authority (Finansinspektionen)
PO Box 7831
Regeringsgaten 48
S-103 98 Stockholm, Sweden
Tel + 46 8 7 878 000
Fax + 46 8 241 335
Web www.fi.se
Sweden
