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Report: Norwegian regulators criticize Basel proposal

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Report: Norwegian regulators criticize Basel proposal

Norway's financial supervisory authority,Finanstilsynet, and the country's central bank criticized the Basel Committeeon Banking Supervision's proposed minimum leverage ratio of 3% for banks asinsufficient for Norwegian lenders.

In their view, the ratio should be about 6%, Reutersreported July 8, citing a statement issued by the two regulators.

They reportedly added that the weighted averageleverage ratio of Norway's banks was 7.1% at the end of 2015.