IMF staff call for greater delegation of macro-prudential powers in Norway
Technical note identifies issues around co-ordination across ministry, central bank and FSA
Some macro-prudential powers should be transferred from Norway's finance ministry to its central bank or Financial Supervisory Authority (FSA), according to IMF staff – or possibly invested in a formal committee comprising all three.
In a technical note published on September 17, staff noted the institutional structure underpinning the use of macro-prudential instruments had worked to good effect in many areas. Most powers rest with the ministry, which is advised by Norges Bank and the FSA.
Staf
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