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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...