October 7, 2013 / 10:25 AM / 4 years ago

Countercyclical buffer will not vary as often as rates -Olsen

OSLO, Oct 7 (Reuters) - Norway's countercyclical buffer, set to be introduced for banks from next year, will not vary as often as interest rates, the central bank governor said on Monday.

The Nordic country is introducing a countercyclical buffer, or higher capital requirements for banks when the economy is doing well, to boost the solidity of Norway's financial system.

"(It) will not vary as often as interest rates," said Oeystein Olsen in a question-and-answer session after delivering a speech. "(But) it will vary over time and could be decreased to avoid an unwished credit crunch." (Reporting by Camilla Knudsen and Gwladys Fouche, editing by Balazs Koranyi)

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