February 9, 2018 / 9:19 AM / 16 days ago

Nordic-Baltic countries extend cooperation on financial stability

OSLO (Reuters) - Governments and central banks in the Nordic and Baltic countries have signed a memorandum of understanding to cooperate and coordinate on cross-border financial stability, replacing an earlier deal from 2010, Norway said on Friday.

The memorandum is not legally binding, however, Norway’s central bank, the finance ministry and the financial supervisory authority said in a joint statement.

“The Nordic and Baltic countries have common financial stability interests stemming from potential systemic inter-linkages between their respective countries, justifying enhanced cooperation and coordination in maintaining financial stability,” they wrote.

Reporting by Terje Solsvik, editing by Gwladys Fouche

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