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Norway Sets Credit Limits for Booming Consumer Loan Market

Norwegian Economy As World's Biggest Health Fund Hits £1 Trillion
Photographer: Kyrre Lien/Bloomberg
Updated on

Norway stepped in to limit the growth of high interest rate consumer loans and credit card debt to protect the economy from ballooning household leverage amid rising interest rates.

The government announced new temporary regulations that banks and lenders will need to comply with by May 15, largely formalizing earlier guidelines from the financial regulator. The rules will be in place until end of 2020.