Finanstilsynet withdraws Terra Markets' licences to provide investment services

Finanstilsynet withdrew Terra Markets' licences to provide investment services on 12 April 2012. This action was taken after Finanstilsynet conducted an on-site inspection of the company.

Finanstilsynet withdraws Acta Asset Management's licences to provide investment services

Finanstilsynet withdrew Acta Asset Management's licences to provide investment services on 12 April 2012.

Risk outlook 2012: Many households vulnerable if interest rates increase

Finanstilsynet presents its report “Risk Outlook 2012” today. The report describes and analyses developments in the real economy, markets and financial institutions. It also assesses households’ and firms’ financial position, and covers stress tests of banks and households.

Finanstilsynet to use Oslo Børs announcement system

As from March 2012 Finanstilsynet is using the Oslo Børs announcement system to publish its final letters in matters arising from its supervision of listed companies' financial reporting.

Finanstilsynet warns of possible withdrawal of Acta Management Asset Management AS's licences

Finanstilsynet notified Acta Asset Management AS by letter of 3 February 2012 that it is considering withdrawing all the latter's licences to provide investment services under the Securities Trading Act. Acta Asset Management AS is wholly owned by the stock exchange listed company Acta Holding ASA.

Finanstilsynet supports the EBA's plan for recapitalisation of European banks

The European Banking Authority (EBA) today published a recommendation, and final figures, related to banks' recapitalisation needs based on new, higher requirements. This is done to maintain stability and confidence in the markets.

Finanstilsynet supports plan for recapitalisation of European banks

As a part of European measures to restore confidence in financial markets, the European Banking Authority (EBA) has published a plan for the recapitalisation of European banks based on new, higher requirements.

Finanstilsynet considers tightening the guidelines for prudent residential mortgage lending practice

The situation in the housing market, banks' compliance with guidelines for prudent mortgage lending practice and the home loan survey of August 2011 are the background against which Finanstilsynet is now considering tightening the guidelines for prudent lending practice in respect of residential mortgages.

Norwegian financial industry feeling the effects of international turbulence

Norway's financial industry has a solid footing, but is affected by the turbulence in international financial markets. Norwegian banks are impacted by reduced funding opportunities internationally. Falling share and fixed income values are reducing life insurers' return. A substantial setback in the international economy would also affect Norwegian business and industry, and potentially result in increased loan losses. In addition, pressures in the housing market and growing household...

Morten Baltzersen takes office as Director General, Finanstilsynet

Morten Baltzersen takes up duties as Director General of Finanstilsynet on Monday 15 August.

EBA stress test results published

The European Banking Authority (EBA) today announces the results of this year’s EU-wide stress test, which also covers DnB NOR Bank. This is the first time a Norwegian bank has participated in an EU-wide stress test for banks.

European insurance stress test results

The European Insurance and Occupational Pensions Authority (EIOPA) announced today the results of its second European insurance stress test. The exercise confirms that the insurance market in Europe covered by the test is robust.

Good profit performances and satisfactory financial positions on the part of Norwegian banks, but considerable uncertainty prevails

Although the Norwegian economy and Norwegian financial institutions emerged relatively favourably from the financial crisis and posted creditable performances in 2010, the outlook ahead remains uncertain - an uncertainty driven in particular by international developments.

Decline in loans with a high loan-to-value ratio

The home mortgage loan survey conducted in autumn 2010 shows a decline in loans with a high loan-to-value ratio. The survey covered the 30 largest banks, accounting for some 85% of aggregate home mortgage loans in Norway.

Finanstilsynet recommends changes to product legislation for life insurers

The new European solvency framework for insurers, Solvency II, becomes effective on 1 January 2013. Solvency II brings into focus the need for new product legislation in Norway’s life insurance industry. Finanstilsynet recommends changes providing a greater opportunity for long-term management of assets adapted to the time horizon of pension liabilities.

New report from Finanstilsynet: Norwegian banks ready for new capital requirements

Norwegian banks are already broadly in compliance with the basic Tier 1 capital requirement of 6 per cent. This is because Norway has imposed stricter regulation in some areas than other countries and because the banks have devoted their creditable profit performances to strengthening their equity capital positions. However, the new additional requirement of a capital conservation buffer of 2.5 per cent over and above this with effect from 2016-2018 will entail a new obligation for banks in...

Banks’ adjustment to Finanstilsynet’s guidelines on home mortgage loans

This spring Finanstilsynet established guidelines for sound lending practice with regard to loans for residential purposes. The main requirements centre on a thorough process, above all when appraising a borrower’s ability to pay and in applying the rule that a mortgage loan should in general not exceed 90 per cent of property valuation. This autumn the authority has investigated how far the largest banks have revised their home mortgage loan policies in light of the new guidelines. The...

Financial crisis creates challenges for the financial industry in Norway as elsewhere