An expert committee is to investigate the capital structure in the savings bank sector. NHH finance professor Karin Thorburn is appointed member of the committee.
`We need to facilitate profitable savings banks, also in the future´, says Minister of Finance Trygve Slagsvold Vedum (Sp) in a press release.
The Ministry of Finance wants the committee to investigate the capital structure in the savings bank sector and in what ways this affects the savings banks' character and societal function.
One of the aims is to contribute to ensuring that the savings banks continue to have equity instruments that are of sufficiently good quality to cover losses that may occur, and that are in line with the European capital requirements regulations.
`Savings banks are important in the Norwegian banking system. They finance businesses and households in their immediate environment, but are also important regionally and nationally. In addition, they contribute to non-profit purposes, such as culture and volunteering´, Vedum says.
Karin S. Thorburn is Research Chair Professor of Finance at NHH Norwegian School of Economics, Adjunct Full Professor of Finance at The Wharton School of University of Pennsylvania, and Visiting Professor of Finance at the Tuck School of Dartmouth College.
Prior to joining NHH in 2009, she was a full-time faculty member at Tuck for 11 years. Thorburn’s research focuses on M&A, credit, bankruptcy, IPOs, corporate governance, and corporate social responsibility
Professor Tore Bråthen, Oslo
Lawyer /partner Marianne Olssøn, Ringsaker
CEO Fridtjof Berents, Oslo
Professor Karin Sigrid Thorburn, Bergen
Senior customer manager Joar Johnsen, Stavanger
The committee will submit its report by 27 September 2024.
The committee's mandate (in Norwegian)
