Norway: Financial Sector Assessment Program-Technical Note-Banking Regulation and Supervision

International Monetary Fund

No 2020/260, IMF Staff Country Reports from International Monetary Fund

Abstract: 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 supervisory practices employed at end-October 2019. The note focuses on the powers and responsibilities, independence, and resourcing of Finanstilsynet (FSA); its supervisory approach and enforcement powers and practices; key aspects of the prudential framework; and mechanisms to prevent abuse of financial services.

Keywords: ISCR; CR; risk assessment; FSA budget; FSA decision; FSA expectation; FSA power; supervisory guidance; FSA onsite; FSA control; FSA approach; due diligence; FSA staff; FSA plan; Financial stability assessment; Anti-money laundering and combating the financing of terrorism (AML/CFT); Credit risk; Capital adequacy requirements; Operational risk; Global (search for similar items in EconPapers)
Pages: 47
Date: 2020-08-12
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