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Stricter lending rules for Norwegian banks
Published Mon, Oct 14, 2013 · 10:00 PM
Oslo
NORWAY'S banks will have to assume bigger lending losses on residential mortgages from next year, the finance ministry ruled on Sunday, in a move that could force banks to increase capital buffers even further.
From Jan 1, banks will have to use a Loss Given Default (LGD) rate of 20 per cent instead of the current 10 per cent in their calculations on mortgages, and maintain capital buffers accordingly, the ministry said.
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