{
  "title": "Norway: Financial System Stability Assessment-Press Release; and Statement by the Executive Director for Norway",
  "publication": "IMF Staff Country Reports, August 12, 2020",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2020/08/07/norway-financial-system-stability-assessment-press-release-and-statement-by-the-executive-49670",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2020/08/07/norway-financial-system-stability-assessment-press-release-and-statement-by-the-executive-49670",
  "overlayPath": "/en/publications/cr/issues/2020/08/07/norway-financial-system-stability-assessment-press-release-and-statement-by-the-executive-49670/index.md",
  "summary": "Much of the work of the Financial Sector Assessment Program (FSAP) was conducted prior to the COVID-19 pandemic, with the missions ending on February 13, 2020.",
  "sections": [
    {
      "heading": "Summary",
      "content": "- Much of the work of the Financial Sector Assessment Program (FSAP) was conducted prior to the COVID-19 pandemic, with the missions ending on February 13, 2020.\n- Given the FSAP’s focus on medium-term challenges and vulnerabilities, its findings and recommendations for strengthening policy and institutional frameworks remain pertinent.\n- The report was updated to reflect key developments and policy changes since the mission work was completed.\n- The report includes a risk analysis that quantifies the possible impact of the COVID-19 crisis on bank solvency."
    },
    {
      "heading": "Key findings since the previous FSAP (2015)",
      "content": "- Regulatory capital requirements for banks were raised.\n- Actions were taken to bolster the weak capital position of insurers.\n- Temporary borrower-based measures for residential mortgages were introduced; these measures seem to have had some moderating impact on segments of the housing market.\n- The resolution framework was strengthened with:\n  - Implementation of the Bank Recovery and Resolution Directive (BRRD).\n  - Designation of Finanstilsynet (FSA) as the resolution authority."
    },
    {
      "heading": "Risk analysis and stress testing",
      "content": "- The updated report contains a risk analysis that quantifies the possible impact of the COVID-19 crisis on bank solvency.\n- FSAP findings and recommendations emphasize medium-term challenges and vulnerabilities relevant despite mission timing prior to the pandemic."
    },
    {
      "heading": "Policy and supervisory themes covered",
      "content": "- Anti-money laundering and combating the financing of terrorism (AML/CFT)\n- Banking\n- Crime\n- Financial institutions\n- Financial regulation and supervision\n- Financial sector policy and analysis\n- Financial stability assessment\n- Insurance companies\n- Liquidity requirements\n- Stress testing"
    },
    {
      "heading": "Keywords and cross-cutting topics",
      "content": "- Anti-money laundering and combating the financing of terrorism (AML/CFT)\n- CR\n- cybersecurity risk oversight\n- cybersecurity risk supervision\n- financial market volatility\n- Financial stability assessment\n- Global\n- government measure\n- Insurance companies\n- ISCR\n- Liquidity requirements\n- resolution authority's mandate\n- risk analysis\n- Stress testing\n\n---\n\n Content in this bundle\n\n- Executive Summary\n  - Executive Summary (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Executive Summary (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/cr/issues/2020/08/07/norway-financial-system-stability-assessment-press-release-and-statement-by-the-executive-49670/index.md)",
    "[Structured JSON version](/en/publications/cr/issues/2020/08/07/norway-financial-system-stability-assessment-press-release-and-statement-by-the-executive-49670/index.json)",
    "[Bundle manifest](/en/publications/cr/issues/2020/08/07/norway-financial-system-stability-assessment-press-release-and-statement-by-the-executive-49670/bundle-manifest.json)",
    "Published: August 12, 2020",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513550930.002",
    "Much of the work of the Financial Sector Assessment Program (FSAP) was conducted prior to the COVID-19 pandemic, with the missions ending on February 13, 2020.",
    "Given the FSAP’s focus on medium-term challenges and vulnerabilities, its findings and recommendations for strengthening policy and institutional frameworks remain pertinent.",
    "The report was updated to reflect key developments and policy changes since the mission work was completed.",
    "The report includes a risk analysis that quantifies the possible impact of the COVID-19 crisis on bank solvency.",
    "Regulatory capital requirements for banks were raised.",
    "Actions were taken to bolster the weak capital position of insurers.",
    "Temporary borrower-based measures for residential mortgages were introduced; these measures seem to have had some moderating impact on segments of the housing market.",
    "The resolution framework was strengthened with:",
    "The updated report contains a risk analysis that quantifies the possible impact of the COVID-19 crisis on bank solvency.",
    "FSAP findings and recommendations emphasize medium-term challenges and vulnerabilities relevant despite mission timing prior to the pandemic.",
    "CR",
    "cybersecurity risk oversight",
    "cybersecurity risk supervision",
    "financial market volatility",
    "Global",
    "government measure",
    "ISCR",
    "resolution authority's mandate",
    "risk analysis",
    "**Executive Summary**"
  ],
  "related": [
    {
      "title": "Executive Summary",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/files/publications/cr/2020/english/1norea2020001.pdf",
      "summary": {
        "path": "/-/media/files/publications/cr/2020/english/1norea2020001.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/files/publications/cr/2020/english/1norea2020001.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/cr/issues/2020/08/07/norway-financial-system-stability-assessment-press-release-and-statement-by-the-executive-49670/index.md",
    "json": "/en/publications/cr/issues/2020/08/07/norway-financial-system-stability-assessment-press-release-and-statement-by-the-executive-49670/index.json",
    "bundleManifest": "/en/publications/cr/issues/2020/08/07/norway-financial-system-stability-assessment-press-release-and-statement-by-the-executive-49670/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-12T19:31:41.036Z"
}