Norway's finmin keeps bank countercyclical buffer unchanged

OSLO, June 27 Fri Jun 27, 2014 2:04am EDT

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OSLO, June 27 (Reuters) - The level of the countercyclical capital buffer for Norwegian banks should remain unchanged, in line with advice from the central bank, the finance ministry said on Friday.

Last December, the ministry decided that banks had to hold a buffer of 1 percent from June 2015.

The aim of the countercyclical capital buffer is to strengthen the financial soundness of banks and their resilience to loan losses in a future downturn. (Reporting by Nerijus Adomaitis; editing by Camilla Knudsen)

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