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Norway's central bank opposes tightening of mortgage lending rules

Mon 14th October, 2019 3:04pm
OSLO, Oct 14 (Reuters) - Norway's central bank said on
Monday that rules for mortgage lending to households should not
be tightened as proposed by the Financial Supervisory Authority
in September.
    The regulator proposed that bank customers should be allowed
to borrow only up to 4.5 times a household's gross annual
income, instead of five times previously, and that banks should
only deviate from rules in 5% of cases.  urn:newsml:reuters.com:*:nO9N23701T 
    "Norges Bank believes that the austerity measures proposed
by the Financial Supervisory Authority in the requirement for
maximum debt ratio and in the flexibility ratio as a whole will
constitute a significant tightening in the requirements of the
regulations," the central bank said in a letter to the ministry.
    "Norges Bank believes that the requirement for maximum debt
ratio should not be changed."

 (Reporting by Nerijus Adomaitis; Editing by Kevin Liffey)
 ((nerijus.adomaitis@thomsonreuters.com; +47 9027 6699; Reuters
Messaging: nerijus.adomaitis.thomsonreuters@reuters.net))
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