At least once a year, the Supervisory Council shall submit a statement on the minutes of the meetings of the Executive Board and its supervision of the Bank (c.f Section 5 fourth paragraph fifth sentence of the Norges Bank Act). A copy of the statement is sent to the Ministry of Finance. The statement concerning supervision of the bank shall at the minimum contain the following:
- an account of the way supervision of the Bank has been organised,
- an account of supervisory activities performed and the Supervisory Council's priorities in its supervisory work ahead,
- an account of supervision of the Bank's investment management,
- the Supervisory Council's assessment of the Executive Board's management and control of the Bank’s administration and operations (cf. Section 5 third paragraph second sentence),
- an account of the Supervisory Council's work on approval of the Bank's budget and adoption of the financial statements (cf. Section 5 fourth paragraph second sentence),
- particular remarks, if any, in connection with the Council’s supervision.