Supreme Court decision pertaining to the legality of loans indexed to foreign currency
On Wednesday June 16 the Supreme Court issued verdicts in two court cases pertaining to the question of whether it is legal to index car leasing payments in krona to changes in exchange rates of foreign currency. The Court found that it was illegal to index payments denominated in krona in this manner. The verdicts may also set a precedent for the handling of other loan agreements which contain similar provisions.
Government ministries and regulatory agencies have followed these cases closely and have in anticipation of the Supreme Court decision performed a detailed analysis of the potential impact. Decisions about the government's response will be made on the basis of further analysis and interpretation of the actual verdicts. More definite announcements will be made shortly, following a thorough discussion by members of the cabinet and broad consultation with other parties.