finansstabilitet

Finansstabilitet refers to the condition of a financial system in which it can absorb shocks and continue to provide credit, payment services and other financial functions to the real economy. It encompasses the resilience of banks and other financial institutions, the integrity of payment and settlement systems, and the functioning of financial markets and market infrastructure. A stable financial system reduces the probability and severity of crises and helps dampen their macroeconomic effects.

Key objectives of finansstabilitet include preserving solvency and liquidity during stress, preventing fire sales and contagion, ensuring access to funding for households and businesses, and maintaining public confidence in the financial system. Stability is achieved through a mix of microprudential regulation (oversight of individual institutions), macroprudential oversight (system-wide risk assessment and countercyclical tools), and effective crisis management arrangements such as resolution regimes and lender-of-last-resort facilities when appropriate.

Main instruments and tools include capital requirements (as in Basel III, including common equity tier 1 ratios and total capital ratios), liquidity standards (such as the liquidity coverage ratio and net stable funding ratio), and the leverage ratio. Macroprudential measures can include countercyclical capital buffers and sector-specific tools to address housing or credit risk. Strengthening market infrastructure, improving transparency, conducting regular stress tests, and maintaining credible resolution mechanisms are also central to maintaining finansstabilitet.

Governance for finansstabilitet typically involves central banks, financial supervisory authorities, and financial ministries or treasuries, with international cooperation through bodies like the BIS, Basel Committee, IMF, and EU frameworks. In Norway, finansstabilitet is regularly assessed in financial stability reports issued by Norges Bank and the Financial Supervisory Authority (Finanstilsynet), focusing on vulnerabilities and policy recommendations.