Prevention

• Ensuring that Norges Bank’s settlement system and the supply of notes and coins function in a reliable and efficient manner.
• Setting requirements for system owners through its role as interbank system licensing and oversight authority.
• Issuing opinions on rules and regulations that may be of importance to the stability of the financial system, including financial institutions. Unless publication is disallowed or postponed for business secrecy or confidentiality reasons, opinions are normally published on the Bank’s website from the date the letters are sent.
• Providing information by publishing Financial Stability reports, the Annual Report on Payment Systems and via speeches and presentations.
• By sending submissions to the Ministry of Finance twice a year comprising assessments of financial system stability and recommendations for sector-wide measures. These assessments are based on the Financial Stability reports.
• One of the lessons from the global financial crisis (2008/2009) is that the authorities ought to have more instruments for intervention when there is a risk of disruptions in important financial services. Unlike actions aimed at individual institutions, such measures will target the entire industry, ie financial sector macroregulation.
• Having an observer on the board of Finanstilsynet (Financial Supervisory Authority of Norway). Finanstilsynet oversees financial institutions (solvency, risk, management and control) and administers a large number of regulations. It can apply measures directed at individual institutions.

More information:

• Letters and announcements from Norges Bank 
• Financial Stability reports
• Annual Reports on Payment Systems
• Norges Banks settlement system 
• Notes and coins