The Norwegian Financial Supervisory Authority has sent advice to the Ministry of Finance recommending that DNB Bank ASA, Kommunalbanken AS, Nordea Eiendomskreditt AS and SpareBank 1 Sør-Norge ASA be treated as systemically important institutions, and that Sparebanken Norge be treated as systemically important once its merger is completed. The advice also proposes a specific buffer requirement of 2% for DNB and 1% for Kommunalbanken, Nordea Eiendomskreditt, SpareBank 1 Sør-Norge and Sparebanken Norge (after the merger of Sparebanken Vest and Sparebanken Sør). Under Norway’s Regulation on capital requirements and national adaptation of CRR/CRD IV, the Ministry of Finance makes the annual decision on which institutions are systemically important, with decisions normally taking effect no earlier than 12 months after adoption. For the planned merger, Finanstilsynet considers it appropriate for Sparebanken Norge’s buffer requirement to enter into force after 1 January 2027. Finanstilsynet will continue to provide its annual advice to the Ministry of Finance by the end of the first quarter each year.
Norwegian Finanstilsynet 2025-03-31
Norwegian Financial Supervisory Authority advises designating DNB, Kommunalbanken, Nordea Eiendomskreditt, SpareBank 1 Sør-Norge and post-merger Sparebanken Norge as systemically important with buffers of 2% and 1%
The Norwegian Financial Supervisory Authority advised the Ministry of Finance to designate DNB Bank ASA, Kommunalbanken AS, Nordea Eiendomskreditt AS, and SpareBank 1 Sør-Norge ASA as systemically important institutions, with Sparebanken Norge included post-merger. Proposed buffer requirements are 2% for DNB and 1% for others, effective no earlier than 12 months post-adoption. Finanstilsynet will continue its annual advisory role to the Ministry by the end of Q1 each year.