{
  "title": "Norway: Financial Sector Assessment Program-Technical Note- Macroprudential Policy",
  "publication": "IMF Staff Country Reports, September 17, 2015",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/norway-financial-sector-assessment-program-technical-note-macroprudential-policy-43270",
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  "summary": "This Technical Note reviews macroprudential policy in Norway. The authorities have taken or announced a wide range of macroprudential measures to address systemic risk.",
  "publishDate": "2015-09-17",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Executive summary and key findings",
      "content": "- The Technical Note reviews macroprudential policy in Norway.\n- The authorities have taken or announced a wide range of macroprudential measures to address systemic risk.\n- Since the 2008 global financial crisis, the authorities have deployed a range of measures to safeguard the financial system in the country.\n- Measures include higher capital requirements, including early adoption and implementation of the European Union capital regulations, additional capital buffers, etc.\n- Macroprudential measures have focused primarily on building the resilience of banks through higher capital requirements.\n- Good progress has been made on reciprocity agreements to ensure that domestic macroprudential policy measures apply to all banking activities with Norwegian customers."
    },
    {
      "heading": "Themes and policy actions",
      "content": "- Capital requirements\n  - Early adoption and implementation of the European Union capital regulations.\n  - Additional capital buffers have been introduced to strengthen bank resilience.\n- Systemic-risk focus\n  - Measures designed primarily to build the resilience of banks.\n  - Policy tools aimed at addressing systemic risk across the financial sector.\n- Reciprocity and cross-border application\n  - Progress on reciprocity agreements to ensure domestic macroprudential measures apply to all banking activities with Norwegian customers."
    },
    {
      "heading": "Scope and subject areas covered",
      "content": "- Subjects: Banking; Countercyclical capital buffers; Financial regulation and supervision; Financial sector policy and analysis; Financial sector stability; Financial stability assessment; Macroprudential policy; Systemic risk.\n- Keywords: bank lending; banking sector; central bank; Countercyclical capital buffers; CR; financial crisis; Financial sector stability; Financial stability assessment; foreign currency; FSA guideline; FSA reference model; FSA stress tests; Global; ISCR; leverage ratio; Macroprudential policy; monetary policy; Systemic risk; wholesale funding.\n\nInternational Monetary Fund. Monetary and Capital Markets Department \"Norway: Financial Sector Assessment Program-Technical Note- Macroprudential Policy\", IMF Staff Country Reports 2015, 257 (2015), accessed 9/22/2026, https://doi.org/10.5089/9781513531014.002\n\n---\n\n Content in this bundle\n\n- cr15257 - Executive Summary and Recommendations\n  - cr15257 - Executive Summary and Recommendations (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr15257 - Executive Summary and Recommendations (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/norway-financial-sector-assessment-program-technical-note-macroprudential-policy-43270"
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    "Published: September 17, 2015",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513531014.002",
    "The Technical Note reviews macroprudential policy in Norway.",
    "The authorities have taken or announced a wide range of macroprudential measures to address systemic risk.",
    "Since the 2008 global financial crisis, the authorities have deployed a range of measures to safeguard the financial system in the country.",
    "Measures include higher capital requirements, including early adoption and implementation of the European Union capital regulations, additional capital buffers, etc.",
    "Macroprudential measures have focused primarily on building the resilience of banks through higher capital requirements.",
    "Good progress has been made on reciprocity agreements to ensure that domestic macroprudential policy measures apply to all banking activities with Norwegian customers.",
    "Capital requirements",
    "Systemic-risk focus",
    "Reciprocity and cross-border application",
    "Subjects: Banking; Countercyclical capital buffers; Financial regulation and supervision; Financial sector policy and analysis; Financial sector stability; Financial stability assessment; Macroprudential policy; Systemic risk.",
    "Keywords: bank lending; banking sector; central bank; Countercyclical capital buffers; CR; financial crisis; Financial sector stability; Financial stability assessment; foreign currency; FSA guideline; FSA reference model; FSA stress tests; Global; ISCR; leverage ratio; Macroprudential policy; monetary policy; Systemic risk; wholesale funding.",
    "**_cr15257 - Executive Summary and Recommendations**"
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