The Norwegian Financial Supervisory Authority published remarks by director Per Mathis Kongsrud to the Norwegian Banks’ Guarantee Fund’s autumn conference, assessing the condition and outlook of the Norwegian banking sector. The presentation characterises Norwegian banks as profitable, competitive and well-capitalised with stable market shares, while warning that international developments are worsening the risk picture and that banks’ real resilience should be maintained. Risk drivers highlighted include geopolitical shocks affecting markets, growth and inflation and operational dependencies, alongside high household indebtedness and elevated house prices and low risk premia in commercial real estate. The speech also points to Norway’s securitisation framework, which entered into force on 1 August 2025, including a notification requirement for firms undertaking securitisations and the expectation that capital relief depends on genuine risk transfer and compliance with significant risk transfer, simple transparent and standardised, transparency and risk-retention requirements; Finanstilsynet will assess transaction and firm-level securitisation risks as part of the supervisory review and evaluation process and from a financial stability perspective. Operational priorities covered include a 2025 simplification programme based on an internal working group and 21 written industry inputs, and strengthened economic crime work including a new site in Hamar and five joint regulatory sandbox projects with the Norwegian Data Protection Authority focused on enabling data sharing for fraud and anti-money laundering, with a consultation paper on possible legal changes in preparation. Finanstilsynet indicated it will publish guidance on securitisation notifications, and that the sandbox work is intended to inform possible rule changes.
Norwegian Finanstilsynet 2025-09-12
Norwegian Financial Supervisory Authority sets out bank outlook and signals guidance on securitisation notifications and AML data sharing
The Norwegian Financial Supervisory Authority's director, Per Mathis Kongsrud, addressed the Norwegian Banks’ Guarantee Fund’s autumn conference, highlighting the profitability and competitiveness of Norwegian banks while cautioning about international risks. Key risk drivers include geopolitical shocks, high household indebtedness, and low risk premia in commercial real estate. The authority will assess securitisation risks and is working on economic crime initiatives, including regulatory sandbox projects.