Norges Bank

FAQ Norges Bank

Norges Bank is the central bank of Norway. The Bank has executive and advisory responsibilities in the area of monetary policy, manages Norway’s foreign exchange reserves and the Government Pension Fund Global (GPFG) and is responsible for promoting efficient and robust payment systems and financial markets. In addition, the Bank has the sole right to issue Norwegian banknotes and coins.

Norges Bank is a separate legal entity with the capacity to be a party to legal proceedings, and is owned by the central government.

No, you cannot. Norges Bank does not offer any banking services to the general public.

Norges Bank has sold the gold bars in the central bank's gold reserves, with the exception of seven gold bars reserved for exhibition purposes and 3 ½ tons of gold coins that were part of the "gold transport" to England in 1940. Gold is no longer included in Norges Bank's international reserves.

Norges Bank sold 33.5 tons of gold bars in the first quarter of 2004. Revenues from the sale of gold totalled USD 447.4m, which is equivalent to approximately NOK 3.1bn. See the press release.

The gold shipment from Oslo on the morning of 9 April 1940 consisted of 818 cases weighing 40 kilos each, 685 cases weighing 25 kilos each and 39 kegs weighing 80 kilos each. The total shipment weighed 53 tonnes whereas the gold bars weighed about 48.8 tonnes. The value of the shipment in 1940-kroner was NOK 120 million. The assets were revalued and recorded at NOK 240 million in July 1940.

Published 6 July 2018 13:34
Published 6 July 2018 13:34