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

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 info...

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Bibliographic Details
Corporate Author: International Monetary Fund Monetary and Capital Markets Department
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2015
Series:IMF Staff Country Reports
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Norway  |b Financial Sector Assessment Program-Technical Note-Crisis Management, Bank Resolution, and Financial Sector Safety Nets 
260 |a Washington, D.C.  |b International Monetary Fund  |c 2015 
300 |a 42 pages 
651 4 |a Norway 
653 |a Economic & financial crises & disasters 
653 |a Depository Institutions 
653 |a Banks 
653 |a Finance 
653 |a Bank resolution framework 
653 |a Financial crises 
653 |a Banks and banking 
653 |a Financial sector stability 
653 |a Financial sector policy and analysis 
653 |a Bank resolution 
653 |a General Financial Markets: Government Policy and Regulation 
653 |a Micro Finance Institutions 
653 |a Crisis management 
653 |a Financial Institutions and Services: Government Policy and Regulation 
653 |a Mortgages 
653 |a Banks and Banking 
653 |a Financial services industry 
653 |a Banking 
653 |a Financial Risk Management 
653 |a Finance: General 
653 |a Financial stability assessment 
653 |a Financial Crises 
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520 |a 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