(7)The EBA assessment concluded that the justified needs for liquid assets exceeded the availability of liquid assets in NOK. Sovereign debt is one of the most liquid assets, but in the case of Norway the supply of Norwegian government debt is relatively constrained because of the favourable budgetary position. While international institutions and multinational development banks have also issued large amounts of bonds in NOK, these issues are predominantly private placements held by overseas investors and were therefore not considered by EBA as liquid and available for institutions within the scope of Regulation (EU) No 575/2013. Finally, the EBA assessment was based on the international liquidity standards adopted by the Basel Committee on Banking Supervision whilst the assessement whether the justified needs for liquid assets significantly exceed the availability of liquid assets in a currency should be based upon the definitive list of liquid assets established by Delegated Regulation (EU) 2015/61. The latter establishes a broader range of liquid assets, in particular in relation to covered bonds. However, this difference is insufficient to change the EBA conclusion that the justified needs for liquid assets exceeded the availability of liquid assets in NOK.