The government must do something “- Swedish Dagbladet

Financial Supervisory drug , last week returned the proposal to the amortization requirements and Nordea CEO Christian Clausen require new initiatives to dampen household debt.

– Now the government must do something. With negative interest rates and a rising housing market, something must happen. We would welcome that politicians acted, says Christian Clausen.

The question is especially emergency, says Clausen, since not only the FSA has his hands bound, but also the banks. The Competition Authority has namely said no to the banks themselves develop a common policy on amortization.

“The Swedish economy does not need lower interest rate”

Nordea CEO Christian Clausen

In addition to the effects on the housing market and household debt is the negative interest rate is a millstone around the banks’ necks.

Handelsbanken newly appointed CEO Frank Vang-Jensen told on Wednesday that the last three years of decline in interest rates has reduced net interest income in the Swedish branch operations of 1.3 billion (first quarter 2015 compared with fourth quarter 2011).

So far, banks have been compensated themselves, partly thanks to strong performance of the stock market and growing lending, particularly in mortgages.

On Wednesday, were expected Riksbank add insult to injury by a new reduction the repo rate but no decrease was not.

– It is a wise decision. The Riksbank is in a difficult dilemma. When you do not get any reward for saving ceases investments. Therefore, the Swedish economy is not lower interest rates, said Nordea CEO Christian Clausen to SvD in connection with Wednesday’s press conference.

What does the negative interest rate for you?

– Negative interest rate gives very negative pressure on our deposit income.

The Swiss central bank’s decision to drop the Swiss franc linked to the euro led to speculation that Denmark would do the same.

Suggesting this the increased concern among your clients?

– No, it is a healthy reaction where there is considerable volatility, says Christian Clausen.

Handelsbanken’s growth will increasingly from markets outside Sweden. For example, net interest income declined in Sweden by 1 percent while it rose 4 percent for the group and 38 percent in Britain.

It is also in markets outside Sweden, Handelsbanken’s new CEO Frank Vang-Jensen sees future growth .

– We can always advance our positions, develop our business and make things better, but it is nevertheless true that in Sweden we have a large market share. So it does not look at the five other markets where we are.

Do you need new product to grow or is it mainly in the geographical expansion that potential is there?

– You should not make it more complicated. We will operate the bank in a way we recognize and we have done that by constantly establish ourselves in new areas and countries. We have 831 offices on six home markets and there is still much we can do, says Vang-Jensen.

Despite strong reports fell both Nordea and Handelsbanken’s shares on the stock exchange. Nordea’s shares dropped about 4 percent and Handelsbanken more than 1 percent.

With Nordea and Handelsbanken presentations on Wednesday, all the major banks released their quarterly results. Total made the four banks an operating profit of approximately SEK 29 billion, compared with about 25 billion for the first quarter of 2014.