Latest updates

 
Coverage level under deposit guarantee scheme reduced for overseas depositors
  • Banking & Financial Services
  • Norway
  • 08 February 2019

For many years, the coverage level under the Norwegian deposit guarantee scheme has been significantly higher than the target that was introduced by the EU Deposit Guarantee Schemes Directive to achieve a fully harmonised coverage level. However, recent amendments to the Act on Financial Institutions and Financial Groups have reduced the coverage level for customers in the European Union that have deposits in Norwegian banks which offer services in their country on a cross-border basis.

Current search