Regulation (2011:211) On Loans And Guarantees

Original Language Title: Förordning (2011:211) om utlåning och garantier

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Read the untranslated law here: http://rkrattsbaser.gov.se/sfst?bet=2011:211

The scope of the



section 1 of this regulation provides in connection to 6

Cape. 3-5 of the budget law (2011:203).



2 §/expires U: 2016-02-01/

This regulation applies to loans approved by

authorities under the Government, if the loan will be funded

with lending at the national debt Office, and for guarantees as set out

by public authorities under the Government.



The regulation does not apply



1. a loan made to the authorities under the Government,



2. loans or guarantees issued under the Act (2008:814) if

State aid to credit institutions,



3. the State savings guarantee under the Act (1995:1571)

If the deposit guarantee,



4. compensation for loss under the Act (1999:158) if

investor protection,



5. the capital guarantees provided to intergovernmental or

supranational financial institutions,



6. equity capital guarantees,



7. loans to companies in the form of development capital,



8. loan with conditions for the repayment shall be made in the form of

the proceeds of the particular project, or



9. student loans provided under study support Act (1999:1395).



2 section/entry into force: 2016-02-01/

This regulation applies to loans provided by public authorities under the Government, if lending will be financed with loans in the national debt, and for guarantees issued by authorities under the Government.



The regulation does not apply



1. a loan made to the authorities under the Government,



2. loans or guarantees issued under the Act (2015:1017) concerning the prevention of State aid to credit institutions,



3. the State savings guarantee under the Act (1995:1571) on deposit guarantee,



4. compensation for loss under the Act (1999:158) on investor protection,



5. the capital guarantees provided to intergovernmental or supranational financial institutions,



6. equity capital guarantees,



7. loans to companies in the form of development capital,



8. loan with conditions for the repayment shall be made in the form of revenues from specific projects, 9. student loans provided under study support Act (1999:1395), or 10. guarantees or loans according to Chapter 27. Article 1, first subparagraph 1 and 2 teams (2015:1016) for resolution. Regulation (2015:1042).



section 3 of the Ordinance shall apply subject to the

law or regulation or by the Government's decision in individual

case.



Definitions



section 4 of this regulation means



garantigäldenär: the order whose commitment guarantees have

issued,



guarantee holders: in whose interest a warranty applies,



guarantee: the guarantee that the State set out in favor of a

guarantee holders in respect of an undertaking by a garantigäldenär,



guarantee: guarantee for a loan, and



credit derivatives: financial contracts which have as their object the

transfer credit risk on a borrower or

garantigäldenär from one party to another.



Decisions on loans and guarantees



Prerequisites



§ 5 an authority may decide on one loan or exhibit a

warranty only when it follows a regulation or by

the Government's decision in a particular case.



section 6 of a guarantee or a loan may only be granted

deemed to be respectable and can be presumed to have the potential to

carry out the activity for which the guarantee and loan concerns. A

warranty shall, moreover, be issued if the warrantee is expected

be able to comply with its obligations under the warranty conditions.



A credit guarantee may only include principal, interest rate and

other cost of the guaranteed loan.



Loan agreements



paragraph 7 of the terms of a loan shall be regulated by a loan agreement

between the borrower and the State, by the authority which decides

If the loan.



Guarantee agreements and specific action



paragraph 8 of the terms of a warranty shall be governed by a contract

between the warrantee and the State, or by a special

action to guarantee holder issued by the State, through the

authority that decides on the warranty. If it is necessary to

protecting the State's right to even an agreement (counter-guarantee)

entered into between garantigäldenären and the State.



Terms and conditions



paragraph 9 of the terms of the loans and guarantees will be designed taking into account

to the State's risk and to protect the State's right and

ensure the need for monitoring and follow-up. In order to

restrict the State's risk should conditions be pursued limiting

on the one hand, the possibility of using the loan or guarantee for other than

intended purposes, on the one hand, the possibility to take

measures that increase the risk or the expected cost of

loan or guarantee.



Conditions shall include an obligation for the borrower

each garantigäldenären or the warrantee to leave the

data necessary for monitoring under section 20.



The terms and conditions shall take account of the provisions on

State aid in article 107 of the Treaty on European Union

the European Union (TFEU).



Right of recourse



10 § authority issuing a guarantee to ensure that

guarantee worker's right against the garantigäldenären is transferred to

the State of the event to guarantee due and compensation

paid out.



Credit insurance etc.



section 11 agreements for credit insurance, reinsurance, credit derivatives

or other similar instruments of the credit risk

associated with a loan or a guarantee may be concluded if the cost

for such a contract does not exceed the cost of the

expected loss.



Risk assessment



section 12 Before a loan, guarantee or a specifically delineated

Group of loans or guarantees are granted, shall assess

of the State's risk. The evaluation must include a calculation of the

expected loss and is documented in a report.



Interest and fees



Interest rate



section 13 For each loan or specially delimited group of loans shall

interest rate charged to the borrower that corresponds to the State

funding costs for borrowing with the same maturity, with

an interest rate premium corresponding to the cost of the State's expected

loss. The cost of funding is determined by the Swedish national debt Office.



Guarantee fee



section 14 For any warranty or limited group of

assurance is a guarantee fee equal to the State's

expected loss. The fee must be levied by garantigäldenären

or the warrantee.



The State's expected loss



section 15 Of the State's expected loss for a loan or a

guarantee means the loss which may be expected to occur with

regard to the probability of the borrower or

garantigäldenären may not be able to fulfil its obligations under

loan terms or if the State has to fulfil the guarantee.



In the calculation of the expected loss will be expected

recoveries and expenses for the collection of receivables and

the utilization of any security taken into consideration.



State aid rules



16 § if required as a result of the rules on State

support of article 107 TFEU, the interest rate or fee

be higher than that specified in paragraphs 13 and 14.



Administrative fee



17 § in addition to what follows from paragraphs 13 and 14 should a

administrative fee charged to the borrower and

garantigäldenären or the warrantee. The fee shall cover the

the Authority's administrative expenses for its loans or

warranties. The authority may charge the fee at the same time, with interest rate

or guarantee fee.



The administrative fee held by the authority.



Credit promising fee



section 18 is preceded by a credit loan commitment to the authority

decide if the loan charge of the borrower, if required

as a result of the provisions on State aid in article 107 of the

TFEU.



The part of the charge corresponding to the Agency's costs for

the levying of the charge held by the authority. The remaining part of the

the fee shall be accounted for an income title on the State budget.



Common provisions



section 19 of the size of the interest and the fees authority shall take

out under this regulation will be determined by the authority

granting the loan or guarantee. The interest rate and fees

evidenced by loans or guarantees and conditions.



The portion of the interest or guarantee fee that exceeds the

the cost of the expected loss should be recognised at an

income title on the State budget.



Follow-up and monitoring



section 20 of an authority under section 24 manages loans or

warranties will continuously follow up and monitor the State's right

for these. The authority shall make assessments on an ongoing basis by

outstanding receivables and the risk of losses.



Only 21 of the authority under section 24, manages a guarantee

or a loan may apply for corporate restructuring, cancel

recovery, file for bankruptcy, accept compositions or waive

the State's claim in respect of the loan or guarantee.



An authority which manages a guarantee or a loan is

the exceptions to these consultation obligations in section 19 of the regulation

(1993:1138) on the management of State assets in matters

concerning such a guarantee or a loan.



Guarantee and credit reserve



section 22 of Each authority granting loans or guarantees in accordance with

This Regulation shall have a warranty or credit reserve to

cover the expected losses which may arise by reason of

loans and guarantees. A warranty or credit reserve may

only be charged with incurred losses on loans and

fulfilled the guarantees associated with the reserve. Noted

losses include the costs for the collection and

mobilisation of collateral.



To a guarantee or credit reserve, it assigns a credit

at the national debt Office, which will be used to cover the

losses as loans or guarantees can give rise to.

The Government decides for each reserve if credit and its

size.



section 23 For a warranty or credit reserve to the following funds

introduced:



1. the part of the guarantee fees and interest rates that correspond to


the State's expected loss,



2. grant funds that the Government assigned authority to

cover the Government's expected loss in respect of a loan or

warranty,



3. recoveries on loans or guarantees, and



4. the funds relating to the redemption or disposal of

collateral.



A warranty or credit reserve managed by the authority

According to section 24, manages the loans or guarantees to be found

guarantee or credit reserve. A warranty or credit reserve

should be placed in an interest-bearing account with the Swedish national debt Office.

The location should be on a current account or with a maturity

that corresponds to the guarantees and loans belonging to the reserve.



If a loan or guarantee relating to foreign exchange, receives funds

attributable to such a loan or such warranty is placed on

an account in the currency of a Swedish or a foreign bank

with a high credit rating. In these cases, the funds may also

placed in debt securities issued by a State or by

a private credit institutions with a Government guarantee. Placement in

foreign currency may be carried out only when the risk weight is zero percent

According to Regulation (EU) no

575 of June 26, 2013 on prudential requirements for

credit institutions and investment firms and amending

Regulation (EU) No 648/2012. The placement should be done in a

current account or with a maturity equivalent to the guarantees and

loans in foreign currency. Regulation (2014:999).



Management of issued loans and guarantees



section 24, a loan or a guarantee, managed by the authority

has decided on the loan or guarantee.



section 25 of the authority shall, in accordance with the Regulation (2000:605) if

annual report and budget information account the warranties and

loans it manages and continuously make provisions for

expected losses on these.



Obligation to provide data



section 26 of an authority under section 24 manages loans or

guarantees shall, by 15 February of each year to

The Swedish national debt Office account



1. how the Agency has taken advantage of the loans or guarantees frames

the Government has decided on,



2. the assets contained in the guarantee and

lending activities, as well as



3. expected losses and material risks relating to

outstanding loans and guarantees.



Accounts shall be equal to the Swedish national debt Office

need according to section 4 of the Regulation (2011:231) about the basis for

annual report for the State.



Appeal



paragraph 27 of The decision pursuant to this Regulation shall not

subject to appeal.



Transitional provisions



2011:211



1. This Regulation shall enter into force on 1 January 2012 in the case

about 13 to 19, 22 and 23 sections and in General on 1 april 2011.



2. warranty Ordinance (1997:1006) shall cease to have effect on 1

April 2011.



3. The repealed regulation does, with the exception of section 5,

for guarantees issued prior to april 1, 2011. Further

terms of section 12 of the repealed Regulation for decision on charges

taken before the end of 2011. If funds attributable to loans

or guarantees in foreign currency deposited in

debt securities issued before January 1, 2012 by private

credit institutions with high credit ratings, but without the State

warranty, use of these relations be maintained until their

term expired.