Norway proposes tougher core capital requirements for banks

OSLO: Norway's government on Friday proposed raising core capital requirements for banks to be implemented gradually over the coming years, the Finance Ministry said.

It proposed that banks have core capital of 10 percent of total assets, up from the current 9 percent, from July 1, 2014. Large banks must then have 11 percent core capital from July 1, 2015 and 12 percent from July 1, 2016.

The ministry also proposed countercyclical capital buffers of between 0 and 2.5 percent of core capital.