8/18/2009

Uldis Cerps, head of the Swedish Financial Supervisory Authority's Prudential Supervision Department, said the country's financial system has improved since June. "I think we have seen a slight improvement in the situation due to the lower rate levels and due to the gradual picking up of the interbank market internationally," Cerps said. "But I would say that the improvement is marginal." Meanwhile, Swedbank CEO Michael Wolf said he expects the bank's $2.07 billion rights issue to cover downside risks brought up by the regulator's stress tests.

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