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Norway's financial watchdog tightens mortgage rules
July 1, 2014 / 7:07 AM / 3 years ago

Norway's financial watchdog tightens mortgage rules

OSLO, July 1 (Reuters) - Norwegian banks will need to tighten rules for mortgages to households when it comes to the risk of default, the Nordic country’s financial supervisory authority said on Tuesday.

“Finanstilsynet estimates that the requirements ... will increase risk weights assigned to residential mortgage portfolios to around 20-25 per cent compared with previous levels of 10-15 per cent,” it said in a statement.

Banks in Norway, which include DNB, must adopt the new rules by the end of this year. (Reporting by Gwladys Fouche, editing by Camilla Knudsen)

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