Norges Bank

Circular 7/2011

Prices in Norges Bank’s settlement system (NBO) for 2012

[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. The price structure is described in Circular no. 13/30 October 2009 concerning prices in the settlement system for 2010.

Settlement system prices were kept unchanged from 2010 to 2011. For 2012, an annual general cost increase and somewhat lower income due to fewer participants in NBO will be covered by an increase in the basic price for banks in the groups A1, A2 and B. The prices for 2012 are 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 2012

All prices are in NOK

Participant/servicePrice per unit
Fixed prices Price per month
Banks in Group A1 * 180 000
Banks in Group A2 * 65 000
Banks in Group B ** 9 000
   
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.

Published 28 October 2011 11:00
Edited 27 October 2011 10:02