Norges Bank governor backs plans for counter-cyclical capital buffer
Øystein Olsen, governor of the Norges Bank, has backed plans by the Norwegian government to introduce a counter-cyclical capital buffer (CCB) in Norway.
At the annual meeting of the Norwegian Financial Markets Association, Olsen said legislation still needs to be examined by the Norwegian parliament, but under the current plans the Norges Bank would have "primary responsibility" for "elaborating the basis" of decisions on the CCB, giving advice four times a year. The ministry of finance would
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