Nor­way’s cbank rec­om­mends adopt­ing Basel rules

The Pak Banker - - Front Page -

OSLO: Nor­way's banks should seek to com­ply with new rules dic­tat­ing cap­i­tal and liq­uid­ity re­quire­ments sooner than cur­rent guide­lines sug­gest, the cen­tral bank said.

"The Basel Com­mit­tee on Bank­ing Su­per­vi­sion has pro­vided banks with a long tran­si­tion pe­riod for in­tro­duc­ing the new cap­i­tal and liq­uid­ity re­quire­ments," Gover­nor Svein Gje­drem said in a state­ment ac­com­pa­ny­ing the cen­tral bank's bi-an­nual fi­nan­cial sta­bil­ity re­port to­day. "Nor­we­gian banks are far­ing well and growth in the Nor­we­gian econ­omy now seems to have gained some foot­ing. The new stan­dards can there­fore be in­tro­duced some­what faster here." The new set of Basel rules is due to be en­forced by 2018. Nor­way's main­land econ­omy, which ex­cludes rev­enue from oil, gas and ship­ping, has ex­panded for five con­sec­u­tive quar­ters as govern­ment stim­u­lus mea­sures helped keep un­em­ploy­ment at the low­est level in Europe and buoyed con­sumer spend­ing. -PB News

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