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Swedish central bank says banks still financially strong

Sweden's central bank said on Wednesday the Nordic country's banks were financially strong, but noted that funding measures taken by authorities were still necessary to safeguard the financial system.

“Swedish banks remain financially strong and have a good resilience to shocks,” the central bank said in its twice-yearly stability report.

“Swedish authorities have taken extensive measures to facilitate the banks' funding. These measures are now a necessary condition for maintaining satisfactory stability in the Swedish financial system.”

The Riksbank's report comes as the country faces its sternest financial test since a banking crisis in the early 1990s. (Reuters)