Consultation: Changes to the guidelines for collateral for loans from Norges Bank
Today, Norges Bank has circulated changes to the guidelines for loans from Norges Bank for comment. The guidelines are intended to provide banks with sufficient access to lending facilities, while limiting Norges Bank’s risk exposure. The changes will have minor consequences for the loan value of banks’ pledged collateral.
Norges Bank is now announcing some changes to the guidelines. There will be an increase in the haircuts applied to securities with long maturities and to securities denominated in some foreign currencies. Furthermore, a maximum limit per borrower is being introduced for the borrower’s total pledging of covered bonds. Norges Bank will also accept credit ratings from the credit ratings agency Scope. In addition, some minor changes and clarifications will be made in the guidelines.
Norges Bank requests comments by 17 March 2022.
Consultation: Changes to the guidelines for collateral for loans from Norges Bank, Norges Bank’s letter to Finance Norway 3 February 2022. The consultation letter has also been sent to Finanstilsynet (Financial Supervisory Authority of Norway). The Ministry of Finance has received a copy of the letter for information.