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Norway keeps countercyclical capital buffer for banks unchanged

Fri 27th March, 2015 6:02am
OSLO, March 27 (Reuters) - Norway will keep the 
countercyclical capital buffer requirement for banks unchanged 
at one percent from June 30, 2015, in line with the central 
bank's recommendation, the Finance Ministry said in a statement 
on Friday. 
    "The ministry has among other things put emphasis on 
prospects of a weakening Norwegian economy," it said, adding 
that strong growth in housing prices, on the other hand, could 
increase the household debt level and lead to higher buffer 
requirements in the future. 
    However, the Financial Supervisory Authority, which also 
advises the ministry, recommends raising the countercyclical 
buffer level to 1.50 percent from March 2016.  
    The buffer, set by the ministry, aims to force banks to 
accumulate extra capital during boom periods on top of buffers 
required by international authorities. 
 (Reporting by Camilla Knudsen; Editing by Eric Meijer) 
 ((camilla.knudsen@thomsonreuters.com; +47 2331 6595; Reuters 
Messaging: camilla.knudsen.thomsonreuters.com@reuters.net)) 
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