SEK’s borrowing limit with the Swedish National Debt Office

AB Svensk Exportkredit (SEK) has a borrowing limit with the Swedish National Debt Office. In the Budget Bill for 2026, the Government proposes that the borrowing limit amount to SEK 175 billion (150).

The borrowing limit shall serve as a reserve for situations when SEK’s funding markets are not available and when demand for financing from the export industry is particularly high. It is also used as collateral in the CIRR system, which enables long-term fixed-rate loans in accordance with the OECD framework for officially supported export credits.

The proposal has no material impact on SEK, and SEK’s balance sheet remains funded on a matched maturity basis.