Bank proposal “a rush job”

Professor Ulf Berritz, whose field of expertise is European law, has studied the government’s proposal to raise bank resolution fund fees, that is to say the reserve to shield Sweden from the next financial crisis. At a seminar organised by the Swedish Bank Association (Bankföreningen) on Wednesday, Professor Berritz concluded that the proposal is incompatible with EU law. He also criticised the memorandum sent out by the Ministry of Finance, which failed to analyse the impact of the proposed raise in industry payments, describing it as “a rush job” with insufficient preparation.