NBFS follows developments, assesses risk and identifies vulnerabilities in the financial system and prevents instability by working to ensure that the regulatory framework contributes to a robust and efficient financial system. NBFS shall also contribute to a safe and efficient payment system by providing interbank settlements for Norwegian banks and by supplying notes and coins. NBFS also carries out the Bank’s responsibilities related to events and crises in the financial system.
Acting Executive Director: Birger Vikøren
Deputy Executive Director: Kristin Gulbrandsen
Director Shared Services: Ragnhild L. Solberg
Telephone: +47 22 31 60 25 / +47 22 31 63 34
Payment Systems Department
The department is responsible for the licensing and supervision of important interbank systems in Norway and for oversight of settlement systems for securities and derivatives trades. Risk in the settlement systems and its significance for financial stability is an important aspect of the department’s analytical work. This work also includes assessments of the financial infrastructure and the efficiency of the payment system. The department prepares an annual report on developments in the payment system.
Director: Knut Sandal
Telephone: +47 22 31 67 00 / +47 22 31 63 34
Macroprudential Department
The department works to ensure a robust financial system by applying macroprudential tools and monitoring systemic risk. This involves responsibility for both identifying emerging vulnerabilities and recommending measures to reduce the financial system’s vulnerability to shocks. The department assesses the impact of banks’ exposure to household and corporate credit risk on their capital adequacy. The department also examines how interdependencies between banks and exposure to common risk factors affect the financial stability outlook.
Director: Ingvild Svendsen
Telephone: +47 22 31 63 34
Liquidity Surveillance Department
The department monitors and analyses developments in national and international financial markets of importance to banks’ market-based funding and securities portfolios. The department recommends measures to promote financial stability by making bank balance sheets more robust. The department administers the rules for bank collateral for loans from Norges Bank (SIL).
Director: Sindre Weme
Telephone: +47 22 31 63 34
Research Department
The research department in Norges Bank Financial Stability conducts theoretical and empirical research into the functioning of financial markets, the behaviour of financial institutions, issues related to payment and settlement systems and the interplay between the financial and the real economy. The standard of research must be such that it qualifies for publication in refereed international or national journals. The research department provides specialist input to the Bank’s work on predicting, preventing and managing financial instability and promoting efficient and robust payment and settlement systems.
Director: Q. Farooq Akram
Telephone: 22 31 67 00 / 22 31 63 34
Interbank Settlement Department
The department is responsible for the operation and developments of Norges Bank's Settlement System (NBO). It carries out operational tasks in connection with securities settlement and with banks' loans and deposits in Norges Bank. The department performs tasks for the central government related to management of the government's consolidated account and domestic loans.
Acting Director: Kjetil Watne
Telephone: +47 22 31 60 25
Cashier's Department
The department 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 department 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.
Director: Trond Eklund
Telephone: +47 22 31 60 25
Regulatory Policy Department
The department ensures that the financial sector operating framework and regulatory policy promote financial stability and the efficient production of financial services. An important element of the operating framework is the system in place for crisis management. As lender of last resort, Norges Bank has an important role to play in dealing with liquidity crises. Through consultative statements and in other ways, the department seeks to influence the formulation of financial sector regulation.
Director: Arild J. Lund
Telephone: +47 22 31 63 34