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.