Executive summaryOn 17 September 2020, the Swedish Ministry of Finance published a memorandum containing a proposal for a new “risk tax” aimed at certain banks and financial institutions (institutions). If the law is enacted, the risk tax will be levied on affected institutions starting with financial years that begin in 2022.The main proposals set forth in the memorandum are:A risk tax will be levied on debts related to business carried out in Sweden if the total debt of an institution or a group of institutions exceeds SEK150 billion.“Business carried out in Sweden” is primarily defined as the borrowing and lending which...