DEA 1 y los sueros policlonales vs. Monoclonales

Credit institutions include banks and non-bank credit institutions, which is to say companies offering loans with a particular focus, such as mortgage institutions (see Table 8). The credit institutions are specialists in assessing and monitoring credit risk thanks to the often long-term relationships they have with their customers, in addition to which they have business experience. They thus play an important role in supplying credit in the economy.

The banks have long played a key role among credit institutions.⁶⁷ One of the banks’ most important functions in society is their role in the payment system (see the chapter The financial infrastructure).

among other services, the banks provide the accounts through which many payment transactions are made plus a number of payment services associated with the transactions.

The banks have also traditionally had a monopoly on accepting deposits. These deposits, which can very quickly be converted into cash or used for payments, mean that the banks contribute to the supply of liquidity in the economy. However, the banks’ monopoly on accepting deposits was abolished on 1 July 2004, since which credit

67 There are also institutes that provide credit and are outside of the traditional banking sector. This is usually referred to as shadow banking. Examples of shadow banking are certain types of money market funds and hedge funds. See also the box Shadow banking and the Swedish financial system, Financial Stability Report 2014:1, Sveriges Riksbank.

Chart 14. Total assets at end of 2013

SEK billion

Other credit market companies Mortgage institutions Banks

6 550 2 549

870

Source: The Riksbank

Chart 15. Total assets and investment assets at the end of 2013

SEK billion

Securities companies Fund management companies National Pension Funds Insurance companies

3 408

1 271 2 347

12

Note. The chart shows the total assets for securities companies, while, for insurance companies and AP funds, it shows investment assets and, for securities funds, it shows the funds managed.

Sources: Finansinspektionen, the AP funds' annual reports and the Riksbank

market companies have also been allowed to accept deposits covered by the Swedish deposit guarantee scheme.⁶⁸ Furthermore, subject to certain conditions, other companies may also accept deposits from the public. However, these deposits are not covered by the deposit guarantee scheme.

In general, credit market companies are specialist lenders within a particular area. among credit market companies, mortgage institutions and finance companies have the largest market share. Chart 16 shows a breakdown of lending to the public, between banks, mortgage institutions and other credit market companies.

BaNKS

The banks are the largest group of lenders among all credit institutions.

They account for almost half of the credit institutions’ total lending to the public, which corresponds to SEK 2 704 billion (see Chart 16). In the Swedish market, the four largest banks together account for 74 per cent of the banks’ total assets (see Table 9).

In addition to the limited liability banks, the Swedish market also includes savings banks and co-operative banks. There are a large number of independent savings banks in Sweden. However, these are usually small, operating solely in regional or local markets. Unlike limited liability banks, savings banks lack equity capital and therefore have no shareholders. The profits of the business are therefore not distributed. Instead, any surpluses are retained in the bank as reserves.

The number of savings banks has declined in recent years, frequently through mergers of small savings banks.

a co-operative bank is an economic association established to offer banking services on behalf of its members. The members of the bank are involved in the decisions that affect the bank’s activities.

Co-operative banks do not have shareholders either; the profits are re-invested in the business and can, to a certain extent, be distributed to the bank’s members in the form of a bonus dividend.

68 The deposit guarantee scheme aims to protect customers’ deposits in accounts up to the amount in Swedish kronor that corresponds to EUR 100,000 per customer and institution.

Table 8. Different types of credit institution Credit institutions

Banks Credit market companies

Limited liability companies Mortgage institutions

Savings banks Other credit market companies (including finance companies) Co-operative banks

at the end of 2014, there were a total of 117 banks established in sweden. these comprised 39 limited liability banks, 27 foreign-owned branches, 49 savings banks and two co-operative banks.⁶⁹ compared with 2013, three new foreign-owned branches have been established in the swedish bank market.

69 co-operative banks at this point in time were ekobanken and Jak medlemsbank.

Chart 16. Credit institutions' lending to public

SEK billion

Other credit market companies Mortgage institutions

Note. 1. The chart shows lending from an institutional perspective. As the mortgage activities of certain banks are conducted within the bank, the banks' credit granting statistics include a certain portion of loans traditionally regarded as mortgages, i.e.

loans to households provided against liens on real property. This means that the mortgage institution lending statistics do not include all the mortgages taken in Sweden.

However, total lending from credit institutions is not affected by this.

Note. 2. Since 2007, SEB has conducted its mortgage operations within the banking company, rather than within a separate company. This means that the banks’ credit granting statistics, as of 2007, also include lending previously carried out within SEB Bolån, which was formerly included in the category lending from mortgage institutions.

The relative change in lending from banks and lending from mortgage institutions between 2006 and 2007 can be partly attributed to this.

Source: The Riksbank

Table 9. The ten largest banks’ total assets at year-end 2013

SEK billion

seB 1 493

nordea Bank 1 448

swedbank 1 020

handelsbanken 857

danske Bank¹ 714

sBaB Bank 161

länsförsäkringar Bank 112

dnB¹ 97

landshypotek 78

skandiabanken 44

total, 10 largest 6 025

total, all 6 550

note. the figures in the table refer to operations conducted in sweden. foreign operations conducted by branches or subsidiaries are not included. the figures for foreign banks’ branches and subsidiaries therefore refer only to operations in sweden.

1. foreign branch.

source: the riksbank