New securitisation legislation in Norway
News | 04.12.18Banking and finance
The previous Norwegian Financial Institutions Act included provisions on securitisation. These provisions were not continued in the current Financial Institutions Act, which came into effect on 1 January, 2016. The current Financial Institutions Act does not prohibit securitisation. However, without an exemption from the capital requirements and other regulatory requirements, it is currently not a viable proposition to carry out securitisations in Norway.
The objective of the EU Regulation on securitisation is to harmonise the securitisation legislation within the EU.