March 25, 2020 / 7:19 AM / 4 days ago

Norway banks should not be allowed to pay dividends for now, regulator says

OSLO, March 25 (Reuters) - Norwegian banks and insurers should not be allowed to pay dividends for the time being, the country’s Financial Supervisory Authority said in a proposal to the finance ministry on Wednesday.

A final decision will be made by the ministry, the regulator added.

Banks could face significant losses due to the coronavirus outbreak, while insurers risk lower income due to a fall in interest rates and could also see a drop in asset values, the FSA said. (Reporting by Terje Solsvik; Editing by Andrew Heavens)

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