Norges Bank is Norway’s central bank. The Bank shall promote economic stability in Norway. Norges Bank has executive and advisory responsibilities in the area of monetary policy and is responsible for promoting robust and efficient payment systems and financial markets. Norges Bank manages Norway’s foreign exchange reserves and the Government Pension Fund Global.
The objectives of the Bank's core activities are price stability, financial stability and added value in investment management.
Read more about Norges Bank's objectives and responsibilities in the Annual report.
Facts about Norges Bank
- Norges Bank is a separate legal entity owned by the state
- The Bank's activities are regulated the Norges Bank Act
- Norges Bank has 660 employees (31 December 2012)
- Head office in Oslo, and offices in London, New York, Shanghai and Singapore.
- The Executive Board is the Bank's executive and advisory body and comprises seven members, all appointed by the King. When administrative matters are discussed, there are two staff representatives, elected by the employees, on the Board.
- The Central Bank Governor is Chairman and the Deputy Central Bank Governor is Deputy Chairman of the Executive Board. The Governor is responsible for the day-to-day management of the Bank, and represents the Bank externally.
- The Supervisory Council supervises the Bank’s operations and ensures that the rules governing the Bank's activities are observed, adopts the annual accounts and approves the Bank's budget. The Council comprises fifteen members, all elected by the Storting (Norwegian parliament).