January 14, 2018 / 9:20 PM / 2 years ago

Norway considers further curbs on consumer lending

OSLO, Jan 14 (Reuters) - Norway’s centre-right government could further restrict banks’ lending to consumers and impose limits on interest rates in a bid to curb rapid increases in unsecured debt, it said in a policy document on Sunday.

Borrowing for purposes other than mortgages has risen sharply in recent years, resulting in a booming business for specialist lenders such as Bank Norwegian and Komplett Bank, while also worrying regulators.

Conservative Prime Minister Erna Solberg on Sunday agreed to include the centrist Liberal Party in her cabinet and presented a wide-ranging policy platform for the next several years.

“The government will consider additional tightening of consumer lending,” the Conservatives, Liberals and the Progress Party said in a joint statement.

“It will also consider whether to impose an upper limit on interest rates for unsecured consumer loans,” they added. (Reporting by Terje Solsvik, editing by David Evans)

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