UPDATE 1-Norway's banks need to retain bulk of earnings -regulator

April 22, 2015 10:05 AM

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OSLO, April 22 (Reuters) - Norway's banks need to retain the bulk of their earnings as the risk of financial instability is increasing and the rapid rise in household debt may be unsustainable, the financial regulator said on Wednesday.

The prospects of a longer period of low interest rates and ample access to credit could lead to continued high growth in house prices and residential mortgage debt but this would not be sustainable, increasing systemic risk, the regulator said.

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