Sweden Fines Mortgage Lender $2.3M For Liquidity Gaps

Law360, London (October 14, 2020, 10:22 AM BST) -- Sweden's financial watchdog said on Wednesday that it has fined a domestic mortgage lender 20 million Swedish krona ($2.3 million) for failing to comply with requirements on the amount of liquid assets it must hold.

AK Nordic AB had violated key provisions in the liquidity coverage regulations between June and August 2019, the regulator said. This meant that the bank's liquidity coverage ratio — the proportion of highly liquid assets it held — had several times been lower than the binding minimum level required.

Finansinspektionen, known as FI, said that AK Nordic failed to inform it of its failure to comply...

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