## Norway: Financial Sector Assessment Program-Technical Note-Financial Safety Nets

_IMF Staff Country Reports, August 12, 2020_

## Source details

**Canonical URL:** [Norway: Financial Sector Assessment Program-Technical Note-Financial Safety Nets](https://www.imf.org/en/publications/cr/issues/2020/08/07/norway-financial-sector-assessment-program-technical-note-financial-safety-nets-49672)

## Other formats

- [Markdown version](/en/publications/cr/issues/2020/08/07/norway-financial-sector-assessment-program-technical-note-financial-safety-nets-49672/index.md)
- [Structured JSON version](/en/publications/cr/issues/2020/08/07/norway-financial-sector-assessment-program-technical-note-financial-safety-nets-49672/index.json)
- [Bundle manifest](/en/publications/cr/issues/2020/08/07/norway-financial-sector-assessment-program-technical-note-financial-safety-nets-49672/bundle-manifest.json)

## Bibliographic details
- Published: August 12, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513553139.002

---

### Overview
- Norway has made substantial progress in strengthening its framework for financial crisis management and bank safety nets since the 2015 FSAP.
- The Norwegian authorities have implemented the EU framework relevant to bank recovery and resolution.
- The Deposit Guarantee Scheme Directive (DGSD) has not yet been incorporated into the European Economic Area (EEA) agreement, but Norway has already transposed it into Norwegian law.

### Key findings
- The Bank Recovery and Resolution Directive (BRRD) has been transposed into the Norwegian legal framework mainly by amendments to the Financial Institutions and Financial Groups Act and accompanying regulations.
- Finanstilsynet (the Financial Supervisory Authority of Norway, FSA) has been designated as Norway’s resolution authority.
- Resolution financing options were broadened by establishing a resolution fund.
- The transposition of BRRD and DGSD provides the Norwegian authorities with a broadened and detailed regulatory framework for dealing with weak banks.

### Legal and institutional changes
- BRRD transposition: implemented mainly via amendments to the Financial Institutions and Financial Groups Act and accompanying regulations.
- Resolution authority: Finanstilsynet designated as resolution authority.
- Resolution financing: establishment of a resolution fund broadened financing options.
- DGSD status: transposed into Norwegian law despite not yet being part of the EEA agreement.

### Subjects and keywords
- Subject:
  - Bank resolution
  - Bank resolution framework
  - Banking
  - Crisis management
  - Crisis resolution
  - Financial crises
  - Financial sector policy and analysis
  - Financial stability assessment
- Keywords:
  - Bank resolution
  - Bank resolution framework
  - CR
  - Crisis management
  - Crisis resolution
  - Europe
  - financial crisis
  - Financial stability assessment
  - FSA decision
  - FSA resolution function
  - FSA valuation
  - FSA's resolution
  - Global
  - government backstop
  - government employee protection
  - government funding
  - government indemnity
  - government stabilization tool
  - government support
  - ISCR
  - resolution authorities
  - resolution authority
  - resolution framework
  - resolution fund

---

## Content in this bundle

- **1norea2020003**
  - [1norea2020003 (Markdown version)](/-/media/files/publications/cr/2020/english/1norea2020003.pdf.md){rel="alternate" type="text/markdown"}
  - [1norea2020003 (PDF)](/-/media/files/publications/cr/2020/english/1norea2020003.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/cr/issues/2020/08/07/norway-financial-sector-assessment-program-technical-note-financial-safety-nets-49672_