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Norway's financial stability weakened by pandemic, c.bank says

OSLO, Nov 10 (Reuters) - Norwegian banks have performed well during the coronavirus pandemic, but a continued uncertainty means that the stability of the country’s financial system has weakened somewhat, the central bank said in an annual report on Tuesday.

“There is considerable uncertainty regarding the future path of the pandemic and the consequences for the economy and financial markets,” Norges Bank said.

“The financial stability outlook has therefore weakened somewhat,” it added.

High household debt and high property prices remain the key financial system vulnerabilities in Norway, although these have not changed significantly in the past year, Norges Bank said.

“Banks are robust and well capitalised, despite increased losses,” it said. (Reporting by Terje Solsvik, editing by Gwladys Fouche)

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