Nordic Countries Agree To Follow Local Capital Standards On Mortgages


News: The Nordic countries are getting closer to harmonizing banking rules after reaching an agreement that lenders need to follow local capital standards on mortgages, according to Norwegian Finance Minister Siv Jensen (Bloomberg). Authorities in Denmark and Sweden have agreed that lenders should follow local standards to a larger extent, Jensen said. The minster also claims that the neighboring nations have also reacted 'positively' to a proposal by Norway to tighten factors for the calculation of capital buffers on mortgages. Additional details might be announced 'within a few months' time, as the negotiations are underway between the Nordic nations,' according to Jensen. 'We all agree we need to harmonize this but I find it difficult to say an exact time frame. We're making progress,' Jensen said.

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Geography: Norway, Denmark, Finland, Iceland, Sweden