Norges Bank given new macro-prudential responsibilities
Government assigns central bank power to set countercyclical capital buffer
The Norwegian government has given Norges Bank new macro-prudential responsibilities, the central bank announced on September 3.
From now on it will set the countercyclical capital buffer rate for banks. The institution will also regularly advise the ministry of finance on the systemic risk buffer for banks.
The decision coincided with the creation of a committee analysing whether to separate the Norwegian sovereign wealth fund from Norges Bank. Both announcements came barely a week after
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