Regulatory Alerts2024-12-20
Guidance on Practices for Consumer Loans
The Norwegian Financial Supervisory Authority issued this guidance to clarify the requirements of the amended Regulation on Lending Practices of Financial Undertakings, which entered into force on 31 December 2024. The document details specific calculations for debt-service capacity, including mandatory interest rate buffers, and defines the scope for repayment deferrals, refinancing, and flexibility provisions. It further mandates quarterly reporting by financial institutions to the board or management regarding loans granted under these flexibility rules.
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