Prices and fees in Norges Bank's settlement system for 2019
Banks pay to participate in Norges Bank's settlement system (NBO) in accordance with the terms and conditions for account management. Prices for settlement services are set to cover banks' share of the costs of implementing and operating the settlement system.
The prices have remained unchanged since 2016. In 2018, Norges Bank upgraded the IC infrastructure for NBO. Along with a normal increase in operational costs, Norges Bank has decided to increase the prices in NBO for 2019 by approximately 16 per cent from 2018. The entry fee for a new account in NBO is also increased.
From 2019 some fees for breaches etc. of the terms and conditions for account management will be increased. This includes payment orders incorrectly sent to Norges Bank and number of users of NBO Online beyond quota. These fees are increased due to the additional work resulting from such incidents. A new fee to register new users of NBO Online is also introduced.
Fixed prices per month are payable monthly and will be debited each bank's account in NBO automatically on the second banking day in the following month. Other prices and fees will be invoiced or debited separately.
Prices in Norges Bank's settlement system (NBO) for 2019
|Participation/service||Prices in NOK|
|Fixed prices||Price per month|
|Banks in Group A1*||250 000|
|Banks in Group A2*||93 000|
|Banks in Group B**||11 500|
|Additional charge for banks participating in the securities settlement system (VPO)||70 000|
|Price per year|
|Contingency account ***||5 000|
|Entry prices||Single payment|
* Group A
Banks with an ordinary account in active use for one or more of the following settlement functions: Direct participation in 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 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 request to establish a contingency account. A contingency account cannot be used for payment settlement until it has been activated by Norges Bank.
Fees in 2019 for breaches etc. of terms and conditions for account management at Norges Bank (NBO)
|Breaches of terms and conditions, use of NBO Online||Fee|
|Lack of repayment of a loan under the SCP arrangement by the deadline determined in NBO operating schedule||
NOK 25 000 per time
|Lack of return of deposits used as collateral in Norges Bank under the SCP arrangement by the deadline determined in the NBO operating schedule||NOK 50 000 per time|
|Pledge of collateral that does not have loan value in Norges Bank on maturity or redemption||NOK 10 000 per time|
|Loans from Norges Bank in excess of borrowing access by end of day||D-loan rate plus 10 percentage points|
|Payment order incorrectly sent to Norges Bank||NOK 1 000 per payment order|
|Number of users of NBO Online beyond quota****||NOK 2 000 per extra user per month|
|Request to activate user of NBO Online that has been deactivated by Norges Bank||NOK 6 000 per user|
|New user of NBO Online||NOK 5 000 per user|
|Central counterparty does not repay intra-day loan the same day||NOK 25 000|
|Central counterparty has a deposit on its account overnight||NOK 50 000|
**** Quota for the number of users of NBO Online for each group of banks
- Banks in Group A1: Up to 25 users
- Banks in Group A2: Up to 15 users
- Banks in Group B: Up to 6 users