Norway : Financial Sector Assessment Program-Technical Note-Crisis Management, Bank Resolution, and Financial Sector Safety Nets

Author/Editor:

International Monetary Fund. Monetary and Capital Markets Department

Publication Date:

September 17, 2015

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This Technical Note reviews crisis management, bank resolution, and financial sector safety nets in Norway. Arrangements for crisis management, bank and group resolution, and the financial sector safety nets are well developed and tested in Norway. Roles, responsibilities, accountabilities, and information-sharing arrangements among the relevant bodies are generally well defined and functioning. The current legal framework provides substantial powers and flexibility to deal with failing or failed banks but needs to be strengthened in several respects. The Financial Supervisory Authority has begun to implement a recovery plan requirement for the largest banks. The authorities also make good use of simulation exercises to enhance crisis preparedness.

Series:

Country Report No. 15/253

Subject:

English

Publication Date:

September 17, 2015

ISBN/ISSN:

9781513528298/1934-7685

Stock No:

1NOREA2015004

Format:

Paper

Pages:

42

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