February 28, 2018 / 12:18 PM / 6 months ago

Norway should extend mortgage restrictions, but remove Oslo measure -FSA

OSLO, Feb 28 (Reuters) - The Norwegian government should extend most of the mortgage restrictions that were imposed early last year, although a special measure for the capital can be discontinued, the country’s bank regulator (FSA) recommended on Wednesday.

The Finance Ministry imposed added restrictions on banks’ mortgage lending in January 2017 in a bid to limit household borrowing and prevent a potential house price bubble, with a particular focus on reining in the Oslo market.

In November, the ministry asked the FSA to evaluate whether the rules should be terminated, adjusted, or left as they are. The ministry will come with its own decision at a later stage after a round of public hearing. (Reporting by Terje Solsvik and Ole Petter Skonnord, editing by Gwladys Fouche)

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