Much of this change is the result of new regulations, especially at the institutional level. Nordic banks, for example, have made good progress towards meeting their Basel II capital requirements in time for 2007. While there are still some concerns about the final shape and effectiveness of home-country regulations, the region's top-tier banks are more advanced than most of their peers (see pages 52–54).
But the same cannot be said for Sweden's insurance companies and pension funds. Even th