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| Author: | Barnes, H. |
| Title: | Big dipper. |
| Journal: | Banker
1987 : DEC, VOL. 137:742, p. 45 |
| Index terms: | BANKS NORWAY DEREGULATION |
| Language: | eng |
| Abstract: | Norway experiences a difficult period. The price of the oil, its main export product, has simply collapsed, and current account deficit has reached a record height. At the same time, banking was deregulated, resulting in higher interest rates. Customers almost revolted against the 'selfish' banks, and their anger was further increased by the introduction of fees for cheques. Foreign banks' life was very difficult some years ago, when they were first allowed to enter Norway. Now the credit restriction system is abolished and foreign banks are permitted to conduct securities business, too. |
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