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Consultation document on Norway's implementation of the European Union's prudential framework (CRR/CRD IV)

Finanstilsynet has forwarded a consultation document to the Ministry of Finance containing a draft version of regulatory changes needed to implement the EU's prudential framework for credit institutions and investment firms (CRR/CRD IV).

The Ministry of Finance asked Finanstilsynet by letter of 16 November 2017 to draw up a consultation document proposing regulatory changes in preparation for CRR/CRD IV to be incorporated into the EEA Agreement.

Norwegian rules already largely mirror CRR/CRD IV. Hence the proposed regulatory changes are of a technical nature designed to align Norwegian provisions that do not fully mirror the rules of CRR/CRD IV, and to incorporate provisions from that framework that have not been transposed into Norwegian law. The proposal also clarifies national discretions applied in the Norwegian CRR/CRD IV Regulations.

The assessments made by Finanstilsynet in the consultation document are summarised in the accompanying letter to the Ministry of Finance.