Norway's Ministry of Finance has published the Financial Markets Report 2026, setting out the government’s assessment of the framework for Norway’s financial sector and the outlook for financial stability, market structure and capital access. The report signals a policy focus on quicker incorporation and implementation of EU/EEA financial regulation and further simplification, while maintaining financial stability, well-functioning markets and consumer protection. The report highlights the aim of ensuring Norwegian banks face capital requirements that are as aligned as possible with foreign banks operating in the same market, and indicates that this will be followed up in discussions on changes to the EU financial regulatory framework. For the fund management industry, the Ministry has tasked the Financial Supervisory Authority of Norway (Finanstilsynet) with assessing whether Norway should allow variable-capital fund structures and with considering whether further amendments are needed after Finanstilsynet revisited 2024 rules on currency hedging of share classes and adopted a more flexible supervisory practice within existing regulation. On risks, geopolitical uncertainty, high energy prices and market volatility are flagged, with high household indebtedness and banks’ significant exposure to commercial real estate remaining key vulnerabilities; competition and capital access are described as broadly good, while a separate government mapping exercise is underway to examine financing conditions for growth companies and start-ups.
Department of Finance (Norway) 2026-04-24
Norway's Ministry of Finance publishes Financial Markets Report 2026 prioritising faster EU/EEA rule implementation and more harmonised bank capital requirements
Norway’s Ministry of Finance has published the Financial Markets Report 2026, outlining the government’s assessment of the financial sector framework, financial stability outlook, market structure and capital access, and signalling a policy focus on faster incorporation of EU/EEA financial regulation and further simplification while maintaining stability and consumer protection. The report aims to align Norwegian banks’ capital requirements with those of foreign banks in the same market and tasks the Financial Supervisory Authority of Norway with assessing variable-capital fund structures and potential further changes after revised rules on currency hedging of share classes. It flags geopolitical uncertainty, high energy prices, market volatility, high household indebtedness and banks’ commercial real estate exposures as key risks, while noting good competition and capital access and an ongoing review of financing conditions for growth companies and start-ups.