Norges Bank

Circular 9/2014

Prices in Norges Bank's settlement system (NBO) for 2015


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 collateralisation. 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 will be kept unchanged from 2014 to 2015. The prices for 2015 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 2015



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


Changes in collateral pool abroad


Application for approval of new collateral in VPS

2 100

Application for approval of new collateral abroad

4 200

Entry prices

Single payment


10 000

* Group A
Banks with an ordinary account 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 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 ordinary account in NBO that are not in Group A.

*** Contingency account
Banks without an ordinary account in Norges Bank may enter into an agreement to establish a contingency account. A contingency account cannot be used for payment settlement until it has been activated by Norges Bank.


Published 30 October 2014 10:00