The banks downgraded after the interest rate announcement

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Published 20 September 2022 at 19.40

Economy. The banks have today been ringed by worried mortgage customers after the Financial Supervisory Authority urged people to call and ask for a postponement of the amortization.

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– An incredible number of private customers called our customer service and interpreted it as now I can request a postponement of my amortization, and naturally wanted to do so, says Jennie Sandén, private economist at Danske Bank, to Sveriges Radio.

The Riksbank announced on Tuesday that the key interest rate will be raised by 100 points, i.e. one percentage point, something that has created concern among highly leveraged Swedes.

After the announcement, the Financial Supervisory Authority's Chief Economist Henrik Braconier gave the following advice :

– If things start to get tough, it's best to call the bank and start a dialogue.

It is this statement that led to the many phone calls to the banks.

Hans Lindberg, CEO of the Swedish Bank Association, confirms the picture.

– Yes, the banks have been run over by tens of thousands of customers. So the exchanges are completely paralyzed with people queuing up at the banks. The public's impression seems to be that the Financial Supervisory Authority has paused the amortization requirement just like during the pandemic. But that has not happened, he tells SR.

Sweden borrows

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  • State register of condominiums under way
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