London, 11 September 2014 -- The 12-18 month outlook for Sweden's (Aaa stable) banking system remains negative, as it has been since June 2014, to reflect the upcoming implementation of a bail-in regime across Europe under the Bank Recovery and Resolution Directive (BRRD) and Single Resolution Mechanism (SRM) package. The credit implications of this package will outweigh the other more positive developments in this banking system, over the outlook horizon.

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