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

August 12, 2020

Preview Citation

Format: Chicago

Norway: Financial Sector Assessment Program-Technical Note-Banking Regulation and Supervision, (USA: International Monetary Fund, 2020) accessed November 21, 2024

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 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.

Subject: 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: 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

Publication Details

Pages:

47
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2020/260
Stock No:

1NOREA2020002
ISBN:

9781513553122
ISSN:

1934-7685

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