RTTNews - Wednesday, the Executive Board of the Riksbank decided to borrow EUR 3 billion from the European Central Bank or ECB for safeguarding financial stability.

The central bank has already entered into a swap agreement with the ECB regarding borrowing up to EUR 10 billion in exchange for Swedish kroner. This agreement is now being used to borrow currency.

Earlier, the Swedish central bank had requested to borrow the equivalent of SEK 100 billion in foreign currency from the National Debt Office to restore the foreign currency reserve.

Elsewhere, a report from the Financial Supervisory Authority showed that the major Swedish banks can withstand credit losses in the Baltic exceeding SEK 150 billion over a three-year period. The financial watchdog said all of the big banks can withstand extreme pressure in the coming period.

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