Identification of systemically important institutions

News story | Date: 03/12/2024 | Ministry of Finance

The Ministry of Finance has today decided that DNB ASA, Kommunalbanken AS, Nordea Eiendomskreditt AS and Sparebank 1 Sør-Norge ASA still shall be identified as systemically important institutions in Norway, as recommended by the Norwegian FSA.

The decision entails that DNB ASA is still required to hold an O-SII buffer of 2 percent, while Kommunalbanken AS, Nordea Eiendomskreditt AS and Sparebank 1 Sør-Norge ASA (previously Sparebank 1 SR-Bank ASA) still are required to hold a 1 percent buffer.

The Ministry of Finance shall, in accordance with the capital requirements framework, each year decide on institutions that are identified as systemically important in Norway based on advice from the FSA.
The Ministry notified relevant EU/EEA-authorities in August.
The Standing Committee of the EFTA States has now approved the buffer requirements for the systemically important institutions, and the Ministry has today made its decision as announced in the news story about the notification.