UPDATE 1 — Sweden's SEB temporarily subject to higher capital requirements, bank regulator says

(Adds quote, detail in bullet points) OSLO, Oct 14 (Reuters) — Sweden's SEB is temporarily subject to higher capital requirements due to model deficiencies, the country's bank regulator Finansinspektionen (FI) said in a statement on Wednesday. "This follows FI's identification of more extensive deficiencies related to SEB's internal credit risk models than previously known," the agency said The add-on aims to mitigate the consequences of the model deficiencies until they are remedied, it added The new measure increases SEB's core tier one capital requirement by approximately 10 billion Swedish crowns ($1.01 billion), on top of an existing add-on of 10 billion crowns that has been in place since 2023, FI said The capital requirement add-on will remain in place until SEB implements model changes approved by FI that remedy the deficiencies, the regulator added ($1 = 9.9469 Swedish crowns) (Reporting by Terje Solsvik, editing by Essi Lehto) ((mailto:terje.solsvik@thomsonreuters.com; +47 918 666 70;)