The Financial Inspectorate has published its latest stability report 2026:1 with an important warning about risks of DORA non-compliance among Swedish financial institutions. The report highlights how the Swedish economy is recovering from recession while geopolitical uncertainty creates new challenges for financial stability.
Main Conclusion: Stable but with Risks
FI concludes that the Swedish financial system is stable, but with important challenges that need to be addressed. The most important warning concerns compliance with the DORA regulation, which has been fully implemented in Sweden since last year.
"FI has mapped and analyzed how financial institutions comply with the DORA regulation. Results indicate a risk that some companies are not meeting regulatory requirements," writes FI in the report.
Geopolitical Uncertainty
During spring 2026, the conflict in the Middle East has caused significant price movements and high volatility in global markets. FI assesses that this has increased the likelihood of stronger economic slowdown.
"FI proposes new legislation for regulatory powers over financial companies in wartime situations," reports FI. This proposed legislation aims to strengthen the ability of financial institutions to handle extraordinary situations.
Payment Preparedness as Priority
FI emphasizes the importance of payment preparedness in uncertain geopolitical conditions. The Riksbank already has regulatory authority in this area, creating coordinated governance of financial infrastructure resilience.
"The Riksbank already has regulatory authority over payment preparedness," states FI. This indicates a coordinated strategy between FI and Riksbank to ensure financial stability.
Economic Development
The Swedish economy shows signs of recovery from the recession, while inflation has fallen back and many households remain concerned. This balanced picture motivates FI's cautious view of financial stability.
Key Indicators from the Report:
- Swedish financial sector considered stable on overall level
- DORA implementation is ongoing but with risks
- Geopolitical tensions increase market uncertainty
- New proposals for powers in wartime situations
- Payment preparedness prioritized highly
- Economic recovery underway with continued concerns
Institutions' Operational Resilience
FI highlights that financial institutions need to continue strengthening their operational resilience. This applies not only within the DORA framework but also to handle increased geopolitical risks.
"Companies need to continue strengthening their operational resilience," writes FI, emphasizing the importance of financial institutions having robust processes for handling both routine matters and extraordinary events.
The Banks' Role
The report highlights banks' central role in maintaining financial stability. As an important part of the payment system, banks are particularly important for ensuring that transaction flows continue even in uncertain times.
With the proposed legislation about powers in wartime situations, banks would get clear guidelines on how to act under extraordinary circumstances. This would strengthen the resilience of the entire financial system.
Conclusion and Recommendations
The stability report 2026:1 provides a balanced picture of the Swedish financial situation. The system is stable, but FI identifies important challenges that require continued attention:
- Continued monitoring of DORA compliance
- Preparation for geopolitical risks
- Governance of payment preparedness
- Revision of internal procedures for crisis situations
FI's report shows that the Swedish financial sector is well-prepared to handle both current and future challenges, but that continuous improvement and adaptation is necessary to maintain financial stability.