{
  "title": "Norway: Financial Sector Assessment Program-Technical Note-Banking Regulation and Supervision",
  "publication": "IMF Staff Country Reports, August 12, 2020",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2020/08/07/norway-financial-sector-assessment-program-technical-note-banking-regulation-and-supervision-49671",
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  "summary": "This note presents a targeted review of selected aspects in the regulation and supervision of banks in Norway. The review is carried out as part of the 2020 Norway Financial Sector Assessment Program (FSAP) and the findings and recommendations are based on the regulatory framework in place and the s",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Targeted review of selected aspects in the regulation and supervision of banks in Norway.\n- Conducted as part of the 2020 Norway Financial Sector Assessment Program (FSAP).\n- Findings and recommendations are based on the regulatory framework in place and the supervisory practices employed at end-October 2019."
    },
    {
      "heading": "Focus areas examined",
      "content": "- Powers and responsibilities, independence, and resourcing of Finanstilsynet (FSA).\n- FSA supervisory approach and enforcement powers and practices.\n- Key aspects of the prudential framework.\n- Mechanisms to prevent abuse of financial services (AML/CFT considerations)."
    },
    {
      "heading": "Subject coverage and keywords",
      "content": "- 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.\n- 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."
    },
    {
      "heading": "Implicit analytical emphasis (based on scope)",
      "content": "- Assessment of FSA governance: its legal powers, institutional independence, and resource adequacy.\n- Evaluation of supervisory methodology: planning, onsite inspection practices, enforcement tools, and decision-making processes.\n- Review of prudential rules: capital adequacy, credit risk management, and operational risk components.\n- Examination of frameworks and controls to prevent financial services abuse, including AML/CFT measures.\n\nInternational Monetary Fund. Norway: Financial Sector Assessment Program-Technical Note-Banking Regulation and Supervision.\n\n---\n\n Content in this bundle\n\n- 1norea2020002\n  - 1norea2020002 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1norea2020002 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: August 12, 2020",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513553122.002",
    "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.",
    "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).",
    "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.",
    "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.",
    "**1norea2020002**"
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