Furthermore, challenges in ensuring that the appropriate statistical basis is available for macro-prudential oversight cannot, by definition, be addressed in full as data sets are dynamic, in the same way that the risks they capture evolve over time. Agility in the collection of statistics will therefore continue to be essential so as to accompany innovation in the financial industry and the associated vulnerabilities. BIS central bankers’ speeches  7
As a result, a new crisis management framework has been introduced, the aim of which is to force the banks’ shareowners and creditors – excluding, I would clearly like to point out, those depositors protected by the deposit guarantee – to take a greater responsibility for losses in the event of a default. Furthermore, the requirements regarding the banks’ capital and liquidity buffers have been tightened. In my opinion, these requirements can be even clearer and adapted to the conditions prevailing in the specific banking system. Bearing in mind the dependence of Swedish banks on funding on international capital markets and extensive foreign operations, the requirements regarding banks’ liquidity buffers – sometimes referred to as Liquidity Coverage Ratios – or LCRs – should be expressed in relevant currencies, including Swedish kronor. 8 It is also important to have high capital requirements. Lender of last resort for an increasing number of players Traditionally, systemic risks have been primarily associated with large banks. But developments in the financial sector have made it more difficult to assess where the systemic risks are. This is due to structural changes as a result of both new regulations and financial innovations. In both the Swedish 1990s crisis and the global financial crisis, a grey credit market and a shadow banking sector emerged that evaded the supervision of the authorities and to an extent took over the activities of traditional banks. The risks that were built up in the unregulated sector formed the basis of the system-wide crises that subsequently broke out.