北欧投资银行正在考虑将合成风险转移（SRT）纳入其工具箱，作为一项预防性措施，以巩固其资产负债表，并为其向国防等行业提供更多信贷提供空间。
The Nordic Investment Bank is considering adding synthetic risk transfers to its toolkit as a precautionary measure to bolster its balance sheet and give it more scope to lend to industries including defense.
首席财务官金·斯科夫·延森在接受采访时表示，总部位于赫尔辛基的北欧投资银行正与银行顾问合作进行初步评估，预计将在2027年前后做出决定。合成风险转移将扩大该行已经在使用的资本管理工具范围，目前这些工具包括信用风险保险以及被称为InvestEU的欧盟担保计划。
Helsinki-based NIB is working with banking advisers on a preliminary assessment ahead of making a decision, likely in 2027, Chief Financial Officer Kim Skov Jensen said in an interview. SRTs would expand the palette of capital management instruments already being used by the bank, which currently includes credit risk insurance as well as a European Union guarantee program known as InvestEU.
延森表示：“合成风险转移是我们研究过的第三种工具。我们仍在评估这是否是我们希望拥有的工具。”他说，北欧投资银行在没有合成风险转移的情况下也可以继续增加放贷，因此咨询过程“更多是一种审慎的准备”。
The SRT “is then a third tool that we have looked into. We’re still assessing whether this is something we would like to have in our toolbox,” said Jensen. NIB can continue to increase lending without SRTs, so the advisory process is “more a prudent preparation,” he said.
合成在发展金融机构和多边开发银行中越来越受欢迎，世界银行集团的国际金融公司和欧洲复兴开发银行等机构都在使用这种工具。合成风险转移允许放贷机构将贷款组合的风险转移给第三方投资者，从而释放资产负债表以便进行进一步放贷。此类转移还有助于放贷机构管理对某一行业或借款人的潜在集中风险。
SRTs have grown in popularity among development finance institutions and multilateral development banks, with the World Bank Group’s International Finance Corporation and European Bank for Reconstruction and Development among those utilizing the instrument. SRTs allow a lender to transfer the risk on a portfolio of loans to a third-party investor, freeing up the balance sheet for further lending. Such transfers also help lenders manage potential concentration risks to an industry or borrower.
随着北欧投资银行最大的股东瑞典于2024年加入北大西洋公约组织，北欧和波罗的海国家要求北欧投资银行将其融资业务扩大到包括国防领域。
Following the 2024 accession to the North Atlantic Treaty Organization of Sweden, NIB’s biggest shareholder, the Nordic and Baltic countries asked NIB to broaden its financing operations to include defense.
曾供职于北欧联合银行的延森表示：“目前我们的贷款需求很好。”因此，如果北欧投资银行需要增加其放贷能力，“我们可以做更多信用风险保险，我们可以使用更多InvestEU，并且我们也有可能将合成风险转移纳入我们的工具箱”。根据该行最新的季度报告，今年前九个月，北欧投资银行新发放的融资额同比增长29%，达到35亿欧元（合39亿美元）。拥有穆迪评级和标普全球评级最高信用等级的北欧投资银行于9月更新了其使命和战略，以加强对韧性、安全和国防的关注。
“We have a good demand for our lending at the moment,” said Jensen, who used to work at Nordea Bank Abp. So if NIB needs to increase its lending capacity, “we could do more credit risk insurance, we could use more InvestEU, and we could also potentially put SRTs into our toolbox.”During the first nine months of the year, NIB’s new disbursed financing rose 29% to €3.5 billion ($3.9 billion) compared with the same period in 2025, according to the bank’s latest quarterly report. NIB, which carries the highest credit grades at Moody’s Ratings and S&P Global Ratings, renewed its mission and strategy in September to step up its focus on resilience, security and defense.