Liquidity and markets

Information to banks and the market.

Norges Bank's settlement system

The purpose of Norges Bank's settlement system is to promote an efficient payment system domestically and vis-à-vis other countries by settling payments between banks in a swift and secure manner.

Collateral for banks' loans

Advice on the countercyclical capital buffer

The decision basis is published as part of Norges Bank's Monetary Policy Report. Advice on the level of the countercyclical capital buffer and a summary of the background for the advice are submitted to the Ministry of Finance in connection with the publication of the Report. The advice is published when the Ministry of Finance has made its decision.

Government debt management

The Ministry of Finance is responsible for managing Norway's government debt, but has delegated operational tasks to Norges Bank. Under a mandate laid down by the Ministry, the Bank shall meet the government's borrowing requirements and manage government debt outstanding.

Auction calendar

Norges Bank’s foreign exchange transactions on behalf of the government

The Norwegian government receives revenues in both NOK and foreign currency from petroleum activities. Some of these revenues are used to finance a planned central government budget deficit. Norges Bank carries out the necessary foreign exchange transactions associated with petroleum revenue spending. These foreign exchange transactions are planned and smoothed over the year and are pre-announced each month.

The liquidity management system

Market operations

Norges Bank uses market operations to steer bank reserves towards a desired level, primarily using F-loans and F-deposits.

Lender of last resort

Norges Bank can provide extraordinary liquidity to the entire banking system or individual banks when access to liquidity from other sources is impaired. The extraordinary liquidity that Norges Bank can provide may prevent financial problems from spreading and thus prevent a broader crisis from arising.