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Finansinspektionen (FI) also believes there is a risk that the sale of complex products to consumers will increase.
Uncertainty in the global economy increased during 2011 and the situation in several European companies deteriorated. This development has meant that banks’ liquidity risks are still in focus. During this time, however, the Swedish banks have handled the turbulence better than many European banks thanks to their strong capitalisation and Sweden’s strong government finances. The current financial turbulence demonstrates that banks and authorities still have a need for tools that will help them handle this kind of uncertainty.
The current situation on the market has also resulted in historically low levels for Swedish bond rates. The low interest rates increase the pressure on Swedish life insurance undertakings, and during the autumn FI has observed that the buffers in this industry have contracted. FI believes that all life insurance undertakings, if needed, must be willing to review their guaranteed commitments in order to protect their policyholders in the future.
FI is concerned that in uncertain times such as these, consumers will be encouraged to invest their assets in complex and unsuitable products. There is a risk that actors on the market will steer consumers to these types of products since they are often linked to the largest commissions.