Banks pay for account management and participation in Norges Bank's settlement system (NBO) in accordance with the Terms and conditions for account management at Norges Bank. The prices are set to cover two-thirds of the costs of implementing, developing and operating the settlement system.

The total costs for settlement services calculated for 2021 are at approximately the same level as for 2020. The prices for 2020 will therefore remain unchanged in 2021.

The price structure in NBO is based on each account holder's use of functionality, cf. the price groups A1, A2 and B. In addition, there is a separate price for banks that participate directly in the settlement of the cash leg of the securities settlement (VPO). For 2021, this additional charge applies to direct participation in the cash leg of securities settlement in general.

The banks have a number of registered users of NBO Online who have not been active for a long time. In accordance with Section 2.3 of the Terms and conditions for account management, Norges Bank deactivates access to NBO Online for users who have not been logged on to the system for the previous six months. From 2021, a new fee of NOK 6,000 per user will be introduced for such deactivation. The main purpose is to give the banks an incentive to improve the management and control of their own users. There are no further changes to the fees for breaches etc. of the Terms and conditions for account management in 2021.

Fixed prices per month are payable monthly and will be debited from each bank's account in NBO automatically on the second settlement day of the following month. Other prices and fees will be invoiced or debited separately.

Prices for Norges Bank's settlement system (NBO) for 2021

* 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 apply for a contingency account. A contingency account cannot be used for payment settlement until it has been activated by Norges Bank.

Fees in 2021 for breaches etc. of terms and conditions for account management at Norges Bank (NBO)

**** 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