Norway: Financial Sector Assessment Program-Technical Note-Crisis Management, Bank Resolution, and Financial Sector Safety Nets

September 17, 2015

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Format: Chicago

Norway: Financial Sector Assessment Program-Technical Note-Crisis Management, Bank Resolution, and Financial Sector Safety Nets, (USA: International Monetary Fund, 2015) accessed December 3, 2024

Summary

This Technical Note reviews crisis management, bank resolution, and financial sector safety nets in Norway. Arrangements for crisis management, bank and group resolution, and the financial sector safety nets are well developed and tested in Norway. Roles, responsibilities, accountabilities, and information-sharing arrangements among the relevant bodies are generally well defined and functioning. The current legal framework provides substantial powers and flexibility to deal with failing or failed banks but needs to be strengthened in several respects. The Financial Supervisory Authority has begun to implement a recovery plan requirement for the largest banks. The authorities also make good use of simulation exercises to enhance crisis preparedness.

Subject: Bank resolution, Bank resolution framework, Banking, Financial crises, Financial sector policy and analysis, Financial sector stability, Financial stability assessment

Keywords: Articles of association, Bank resolution, Bank resolution framework, Banking group, Banks assets, Concern resolution, CR, Financial sector stability, Financial stability assessment, FSA comment, FSA responsibility, Global, Guarantee funds, ISCR, Lead resolution authority, MREL requirement, MREL requirements, Problem bank, Saving bank, Size bank, Solvency support

Publication Details

Pages:

42
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/253
Stock No:

1NOREA2015004
ISBN:

9781513528298
ISSN:

1934-7685

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