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Capital requirements for property development financing

The Norwegian Ministry of Finance has given an assessment of the definition of speculative immovable property financing under the standardized approach for banks. The Ministry’s conclusion coincides with the assessments put forward by Finance Norway.

Finance is social pioneers

A growing number of investors and lenders have become increasingly aware of the social dimension of sustainable finance and the market for social bonds is developing rapidly. Meanwhile, the Platform on Sustainable Finance is currently assessing how to inclu...

1,5 million employees will have their own pension account

Own pension account will enter into force 1. January 2021. This is a major and important reform in occupational pensions in private sector and affects approximately 1.5 million employees. With own pension account, employees will have previous pension saving...

Starting next year, all employees with a defined contribution scheme will have their own pension account. Foto: Adobe Stock Photo.

Norwegian Ministry of Finance on bank dividend restrictions

In a statement released on September 9, the Norwegian Ministry of Finance reiterated its message that banks should refrain from distributing dividends in light of the economic uncertainty following the pandemic. The Ministry says that it expects banks to refrain from making dividend payments and share buy-backs until the uncertainty has further subsided.

Economic measures in Norway in response to Covid-19

The Covid-19 outbreak is a serious threat to life and health. The worldwide outbreak has led to a severe economic decline and substantial uncertainty regarding future developments. Click to read more on Government.no.

Liquidity – guarantee schemes

The Norwegian government has proposed a state guarantee for bank credit to SMEs hit by the current crisis. This enables banks to distribute credit to these firms with the state guaranteeing up to 90 percent of the credit.

Critical functions in finance in the Covid-19 situation

The Directorate for Social Security and Preparedness in Norway has pointed out, in "The Critical Functions of Society", three important functions within financial services that must be taken care of.

Extraordinary F-loans to banks

Press release from Norges Bank today: Owing to the market situation over the past few days, Norges Bank will offer additional extraordinary NOK F-loans as from 19 March 2020. Norges Bank will offer extraordinary F-loans with a maturity of one week, one month, three months, six months and twelve months.

Follow-up by The Financial Supervisory Authority of Norway

FSA Norway wirtes in a press release: The coronavirus outbreak has had a major negative impact on the Norwegian and international economies and caused significant fluctuations in the financial markets. This may affect the financial system in various ways. Finanstilsynet is therefore keeping a close watch on market developments and changes in the risk picture of financial...

Norwegian households raise their economic outlook in first quarter 2020

Norwegian households raise their economic outlook in the first quarter, according to the latest Consumer Confidence Index. Indicators measuring the outlook for large purchases and personal economy pull the main indicator up in the quarter, the survey shows....

The EEA agreement – vital to Norwegian financial services – but no smooth sailing

The EEA agreement ensures Norwegian access to and rights in the internal market for everything except fish and farm produce. For insurance and other financial services, it affiliates the small Norwegian market with the internationally known and acknowledged rules of the single market, provided that the rules are implemented into Norwegian law in the same way that EU members...

Banks and insurance companies are not processors for their customers

Finance Norway dissuades both its member companies and their business customers to enter into data processing agreements in general customer relations. As the agreements do not comply with the General Data Protection Regulation (GDPR), they might entail confusion in relation to liability and potentially impose greater responsibility on the parties than is required by the...

Norske Finansielle Referanser AS has launched its own website

On 1 January 2017 Norske Finansielle Referanser AS (NoRe) took over the responsibility of the money market rates Nibor (Norwegian Interbank Offered Rate). Information about the Nibor rules and about NoRe will from now be available on  referanserenter.no .

ESA investigation is about the security in BankID

Finance Norway and BankID Norway AS has had a dialogue with the EFTA Surveillance Authority (ESA) on requirements for safe access to customers' Norwegian bank accounts to initiate payments. ESA has opened a formal investigation into conduct by Finance Norway, BankID Norway AS and some banks in Norway following a complaint by Trustly Group AB, active in international payment...