Norway: Financial Sector Assessment Program-Technical Note-Oversight and Supervision of Financial Market Infrastructure, and Selected Issues in the Payment System

September 17, 2015

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Format: Chicago

Norway: Financial Sector Assessment Program-Technical Note-Oversight and Supervision of Financial Market Infrastructure, and Selected Issues in the Payment System, (USA: International Monetary Fund, 2015) accessed December 3, 2024

Summary

This Technical Note reviews the oversight and supervisory framework for systemically important Financial Market Infrastructure (FMI) in Norway. Norway has a modern and stable FMI. The assessment results suggest an effective supervision and oversight framework supported by a strong legal basis, adequate oversight resources, and good domestic and foreign cooperation between authorities. All Norwegian FMIs have completed assessments against the new international standards and are in the process of improving observance where needed. The authorities could consider strengthening their cooperation to address the risks from outsourced critical infrastructures and tighter interdependencies across FMIs. The authorities could also consider additional measures to strengthen the operational resiliency of payment systems.

Subject: Banking, Financial market infrastructure, Financial markets, Financial regulation and supervision, Financial sector policy and analysis, Financial stability assessment, Operational risk, Payment systems, PFM information systems, Public financial management (PFM)

Keywords: Assessment result, Cooperation agreement, CR, Enhance Norges Bank-FSA cooperation agreement, Europe, Financial market infrastructure, Financial stability assessment, FMI policy, FSA oversight, ISCR, ITBET section, Multiples FMIs, NBO operation, NBO oversight, Operational risk, Payment system, Payment systems, PFM information systems, RAV Report, Securities settlement system VPS, Settlement system

Publication Details

Pages:

27
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/254
Stock No:

1NOREA2015005
ISBN:

9781513532752
ISSN:

1934-7685

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