Norwegian housing finance still underdeveloped: Gjedrem
Housing finance in Norway is not yet fully developed, said Svein Gjedrem, the governor of the Norges Bank, in a speech at the end of January.
Addressing a covered bond forum in Oslo, Gjedrem documented the evolution of the Norwegian credit market, paying attention to its slow deregulation in the 1980s. Commercial banks provided a large number of mortgages, compared to Denmark and Sweden, where mortgage institutions supplied the lion's share of housing finance, he noted. "With the predominance of
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