Norway: Financial Sector Assessment Program-Technical Note-Banking Regulation and Supervision
IMF Staff Country Reports, August 12, 2020
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- Norway: Financial Sector Assessment Program-Technical Note-Banking Regulation and Supervision
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Bibliographic details
- Published: August 12, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513553122.002
Overview
- Targeted review of selected aspects in the regulation and supervision of banks in Norway.
- Conducted as part of the 2020 Norway Financial Sector Assessment Program (FSAP).
- Findings and recommendations are based on the regulatory framework in place and the supervisory practices employed at end-October 2019.
Focus areas examined
- Powers and responsibilities, independence, and resourcing of Finanstilsynet (FSA).
- FSA supervisory approach and enforcement powers and practices.
- Key aspects of the prudential framework.
- Mechanisms to prevent abuse of financial services (AML/CFT considerations).
Subject coverage and keywords
- Subjects: Anti-money laundering and combating the financing of terrorism (AML/CFT); Banking; Capital adequacy requirements; Credit risk; Crime; Financial regulation and supervision; Financial sector policy and analysis; Financial stability assessment; Operational risk.
- Keywords appearing in the note: Anti-money laundering and combating the financing of terrorism (AML/CFT); Capital adequacy requirements; CR; Credit risk; due diligence; Financial stability assessment; FSA approach; FSA budget; FSA control; FSA decision; FSA expectation; FSA onsite; FSA plan; FSA power; FSA staff; Global; ISCR; Operational risk; risk assessment; supervisory guidance.
Implicit analytical emphasis (based on scope)
- Assessment of FSA governance: its legal powers, institutional independence, and resource adequacy.
- Evaluation of supervisory methodology: planning, onsite inspection practices, enforcement tools, and decision-making processes.
- Review of prudential rules: capital adequacy, credit risk management, and operational risk components.
- Examination of frameworks and controls to prevent financial services abuse, including AML/CFT measures.
International Monetary Fund. Norway: Financial Sector Assessment Program-Technical Note-Banking Regulation and Supervision.
Content in this bundle
- 1norea2020002