Prices in Norges Bank’s settlement system (NBO) for 2011
[NOT IN FORCE]
Banks pay to participate in Norges Bank’s settlement system (NBO) in accordance with the agreement between each bank and Norges Bank on account management, settlement and collateral. Prices for settlement services are set to cover banks’ share of the costs of implementing and operating the settlement system. From 2010 Norges Bank has made changes to the price system in line with the cost level and the operational structure of the settlement system which commenced operations in 2009. These changes are described in Circular no. 13/30 October 2009 concerning prices in the settlement system for 2010.
The prices for 2010 are replicated without changes for 2011 as listed in the table below. The fee charged for management of banks’ accounts and for participation in payment settlement as well as the fixed fee for loan collateralisation are payable monthly in arrears and will be debited each bank’s account in NBO automatically on the second banking day in the following month. Fees for changes in collateral, applications for the approval of new securities as collateral and costs pertaining to securities depositories will be invoiced separately and are payable monthly in arrears. The annual charge for the contingency account agreement is also invoiced separately.
Prices in Norges Bank’s settlement system (NBO) for 2011
All prices are in NOK
Participant/service |
Price per unit |
|
Fixed prices |
Price per month |
|
Banks in Group A1 * |
170 000 |
|
Banks in Group A2 * |
60 000 |
|
Banks in Group B ** |
8 000 |
|
Additional charge for banks participating in the securities settlement system (VPO) |
50 000 |
|
Additional charge for banks with collateral abroad |
25 000 |
|
Price per year |
|
|
Contingency account agreement *** |
5 000 |
|
Variable prices |
Price per transaction |
|
Changes in collateral pool in securities depository VPS |
320 |
|
Changes in collateral pool abroad |
530 |
|
Application for approval of new collateral in VPS |
2 100 |
|
Application for approval of new collateral abroad |
4 200 |
|
Entry prices |
Single payment |
|
Banks |
10 000 |
* Group A
Banks with accounts in active use for one or more of the following settlement functions: Settlement of clearings from the Norwegian Interbank Clearing System (NICS), direct participation in settlement in the international multi-currency settlement system Continuous Linked Settlement (CLS), or use by agreement of the Scandinavian Cash Pool (SCP). Banks in Group A are divided into the following two subgroups: Banks that participate directly in CLS and/or have concluded an agreement to use the SCP (subgroup A1) and other banks in Group A (subgroup A2).
** Group B
Banks with an account in NBO that are not in Group A.
*** Contingency account
Banks without an ordinary account in Norges Bank may enter an agreement to establish a contingency account. A contingency account cannot be used for payment settlement until it has been activated.