12 The stricter position found in the legal literature – which denies Member States any competence to take  measures that have a limiting effect, even if the focus of the measure lies elsewhere, since legislative measures limiting the legal tender status of euro cash can only be taken at EU level – was not followed.
Where the strict rules around the run-off of cash-flows do not align with the characteristics of the underlying assets and liabilities, the required net cash outflow assumptions may be overstated and the required HQLA will  6  BIS central bankers’ speeches  consequently be higher. At this point Norwegian authorities have not stated their final policy position.