The department is responsible for:
- in central banking operations, maintaining a comprehensive overview of market developments
- ensuring the capacity and ability to deal with crises in the financial system
- efficiently managing overall liquidity in the banking system
- meeting society's demand for cash in a manner that promotes efficiency in the payment system
- ensuring that the central bank's role as the bankers' bank and the government's bank is performed efficiently
- providing stable, functional and efficient IT services
The department has its own compliance unit.
Executive Director: Kristin Gulbrandsen
Tel. +47 22 31 60 25
Departmental units are:
The unit discharges Norges Bank's responsibility pursuant to the Norges Bank Act as issuer of notes and coins. It ensures that new notes and coins are supplied as the need arises, and that old, worn notes and coins are removed and destroyed. The unit is responsible for new issues and improvements of notes and coins designed to make them an effective means of payment. Information on the appearance and properties of notes and coins, particularly when changes are made, is important for ensuring that they are received with the necessary confidence, and the provision of information is therefore one of the department's key responsibilities.
Acting Director: Leif Veggum
Tel. +47 22 31 60 25
Director Trond Eklund is head of the project to develop a new banknote series.
Market Operations and Analysis
The Market Operations and Analysis Unit has extensive contact with domestic and international markets and performs the analyses that provide the background for the formulation of monetary policy. The unit also conducts Norges Bank's monetary policy transactions in domestic money and capital markets and in the foreign exchange market. The unit is also tasked with managing the money market portfolio and the buffer portfolio and fulfils Norges Bank's role in advising on and conducting the central government's domestic borrowing.
Director: Olav Andreas Bø
Tel. +47 22 31 67 43
Liquidity: +47 22 31 71 70
Foreign exchange: +47 22 31 71 50
Government debt: +47 22 31 71 40
The main responsibilities of the Interbank Settlement Unit are the operation and development of Norges Bank's settlement system (NBO) and the management of banks' collateral for loans from Norges Bank. The unit also manages the central government's accounts at Norges Bank.
Director: Kjetil Heltne
Tel. +47 22 31 60 23 / +47 22 31 60 25
The unit is responsible for providing stable, functional and efficient IT services.
Director: Helge Mothes
Tel. +47 22 31 65 69 / +47 22 31 60 25
The unit is responsible for the collection and quality of statistics and data for use in the economic analysis in Norges Bank Central Banking Operations.
Assistant Director: Rune Robsahm Kjørven
Tel. +47 22 31 65 88