Gjedrem calls for higher capital requirements
New and higher capital requirements must be imposed on banks, said Svein Gjedrem, the governor of Norges Bank.
Gjedrem said that banks must build up strong capital buffers above the minimum requirement in "normal times" so that they would be able to absorb losses and avoid credit rationing in "bad times."
He also said that Norwegian banks did not have sufficient buffers today to safeguard their own, their shareholders' or the economy's best interests.
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