Bloomberg said that Sweden’s biggest mortgage lender, Swedbank, is deliberately losing market share in an effort to protect itself from impairments amid record household indebtedness.

Michael Wolf, the bank’s chief executive officer, told the newswire that the country’s housing market probably faces “some sort of adjustment”.

“You are seeing it gradually as we speak. I am not concerned about a house bubble — I am more concerned about the debt level”, he said

More and more economist say that rising household debt burdens is a threat to the country’s financial stability, It has prompted Riksbank Governor Stefan Ingves to warn he’ll respond with monetary measures. While an 85 percent cap on loans relative to property values was introduced in 2010, more measures could be needed to curb debt levels further, Bloomberg said.