Norway: Financial Sector Assessment Program-Technical Note-Oversight and Supervision of Financial Market Infrastructure, and Selected Issues in the Payment System

IMF Staff Country Reports, September 17, 2015

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Norway: Financial Sector Assessment Program-Technical Note-Oversight and Supervision of Financial Market Infrastructure, and Selected Issues in the Payment System

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Bibliographic details

• Published: September 17, 2015
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781513532752.002

Overview and principal findings

• Reviews the oversight and supervisory framework for systemically important Financial Market Infrastructure (FMI) in Norway.
• Norway has a modern and stable FMI.
• Assessment results suggest an effective supervision and oversight framework supported by:
  • a strong legal basis,
  • adequate oversight resources,
  • good domestic and foreign cooperation between authorities.
• All Norwegian FMIs have completed assessments against the new international standards and are in the process of improving observance where needed.

Risks and supervisory considerations

• Authorities could consider strengthening their cooperation to address risks from outsourced critical infrastructures and tighter interdependencies across FMIs.
• Authorities could also consider additional measures to strengthen the operational resiliency of payment systems.

Subject coverage and key topics

• Banking
• Financial market infrastructure
• Financial markets
• Financial regulation and supervision
• Financial sector policy and analysis
• Financial stability assessment
• Operational risk
• Payment systems
• PFM information systems
• Public financial management (PFM)

Keywords and technical terms preserved from the assessment

• assessment result
• cooperation agreement
• CR
• Enhance Norges Bank-FSA cooperation agreement
• Europe
• Financial market infrastructure
• Financial stability assessment
• FMI policy
• FSA oversight
• ISCR
• ITBET section
• multiples FMIs
• NBO operation
• NBO oversight
• Operational risk
• payment system
• Payment systems
• PFM information systems
• RAV Report
• securities settlement system VPS
• settlement system

Content in this bundle

• _cr15254 — IMF staff assessment
  • _cr15254 — IMF staff assessment (Markdown version)
  • _cr15254 — IMF staff assessment (PDF)