Regulatory Alerts2021-01-20
Guidelines on Lending Practices for Mortgage and Consumer Loans
The Norwegian Financial Supervisory Authority issues guidelines to clarify the implementation of the Mortgage and Consumer Loan Regulation, replacing previous circulars. The document details specific requirements for assessing customer repayment capacity, including stress tests, documentation standards, and rules for debt restructuring and refinancing. It further mandates quarterly reporting by financial institutions on loans granted under flexibility provisions to ensure ongoing regulatory compliance.
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