IMF Staff Country Reports

Norway: Financial Sector Assessment Program-Technical Note-Systemic Risk Oversight and Macroprudential Policy Framework

Publication Date:

August 12, 2020

Electronic Access:

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Summary:

While Norway’s institutional arrangement for macroprudential policy is uncommon, the authorities have shown strong willingness to act. The Ministry of Finance (MoF) is the sole macroprudential decision-maker in Norway, which is rare in international comparison. However, Norges Bank and the Finanstilsynet (FSA) play important advisory roles. In recent years, the authorities have taken substantive and wide-ranging macroprudential policy actions in response to growing systemic vulnerabilities—and these seem to have been effective in slowing down some of the riskier trends. The macroprudential policy toolkit is well stocked and actively used.

Series:

Country Report No. 2020/265

Subject:

Banking Countercyclical capital buffers Financial institutions Financial regulation and supervision Financial sector policy and analysis Financial sector stability Financial stability assessment Macroprudential policy Macroprudential policy instruments Mortgages

Frequency:

regular