In Sweden, as well as in many other countries, the financial crisis has taken its toll on society in general, and banks in particular. The primary concerns of the Swedish banks during autumn 2008 were funding and other liquidity issues. Therefore, the Swedish National Debt Office (Riksgälden) launched a guarantee scheme as a part of the Government's overall package of measures to strengthen the stability in the Swedish financial system. The scheme applied for a fixed term up to April 30 2009, but has recently been extended until at least October 31 2009. Until recently, only two banks – Swedbank and SBAB – have entered into the scheme, although most Swedish banks have not yet renounced a guarantee from the Government under the initiated guarantee programme.
April 30 2009