Lessons from a 1990s crisis helped Norway to weather the credit crunch. Thommessen’s Sverre Tyrhaug and Lars Eirik Gaseide Rosas assess current attempts to shore up lenders
Regulators across the globe are facing the challenge of implementing successful measures to tackle the effects of the financial crisis. In Norway, the crisis has been less severe than in other countries thanks to the existing regulatory and supervisory framework, the strong financial position of the Norwegian Government and, arguably, the timely actions taken by Norwegian authorities. Nevertheless, in light of the uncertain times ahead, the nation’s banks are trying to place themselves in a strong enough position to withstand difficult market conditions and a more demanding regulatory framework.
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