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Sweden: Early Adopter of Formal Banking Supervision with Incremental Steps

In: Formalization of Banking Supervision

Author

Listed:
  • Eiji Hotori

    (Yokohama National University)

  • Mikael Wendschlag

    (Uppsala University)

  • Thibaud Giddey

    (University of Oxford)

Abstract

The banking supervision in Sweden was formalized incrementally over the last half of the nineteenth century when the banking sector grew and modernized. Swedish banking regulation developed out of the charter requirement, and the supervision out of the administration of the growing number of charter applications. With the creation of the Bank Bureau within the Ministry of Finance and the development of the Bank Inspector profession in the 1860s and 1870s, banking supervisory activities such as on- and off-site examinations became more frequent and standardized. The creation of the independent agency, the Bank Inspection Board, in 1906, and the transfer of supervisory executive powers from the Ministry of Finance to the new supervisory agency, were the final step of the formalization process. During the same period, banking regulation was harmonized and furthered a process of centralizations to the authorities in Stockholm.

Suggested Citation

  • Eiji Hotori & Mikael Wendschlag & Thibaud Giddey, 2022. "Sweden: Early Adopter of Formal Banking Supervision with Incremental Steps," Springer Books, in: Formalization of Banking Supervision, chapter 0, pages 65-75, Springer.
    • Handle: RePEc:spr:sprchp:978-981-16-6783-1_4
    DOI: 10.1007/978-981-16-6783-1_4
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