Norges Bank

Circular 5/2023

Prices and fees for Norges Bank's settlement system for 2024

Banks and other financial sector undertakings pay for account management and participation in payment settlements 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 prices for NBO for 2024 will be increased by around 20 percent from the 2023 level. The increase mainly reflects general wage and price increases and a further strengthening of the settlement system’s IT security. In addition, bank mergers and fewer participants in the cash leg of securities settlement mean that the total costs must be shared by a smaller number of account holders. 

The fees for breaches etc of the terms and conditions will remain unchanged in 2024. However, Norges Bank reserves the right to make changes to the fees during the year.

Fixed prices per month are payable monthly and will be debited from each participant’s account in Norges Bank 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 for 2024

Account Management/settlement

Prices in nok

Fixed prices

Price per month

Banks in Group A1*

            620 000

Banks in Group A2*

            230 000

Banks in Group B**

              27 500

Central counterparties, central banks and the CLS Bank

              27 500

Additional charge for direct participation in the cash leg of securities settlement

            172 500


Price per year

Contingency account ***

              10 000

Entry prices

Single payment


              50 000

* 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 2024 for breaches etc of terms and conditions for account management at Norges Bank



Failure to repay a loan under the SCP arrangement by the deadline laid down in the operating schedule for NBO

NOK 25 000
per occurrence

Failure to return deposits used as collateral in Norges Bank under the SCP arrangement by the deadline laid down in the operating schedule for NBO

NOK 50 000
per occurrence

Pledge of collateral that does not have a loan value in Norges Bank on maturity or redemption

NOK 10 000
per occurrence

Loans from Norges Bank in excess of the bank’s credit limit by end of settlement 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

Deactivation of user of NBO Online that has not been logged on to the system for the previous six months

NOK 6 000
per user

Central counterparty does not repay intra-day loan the same settlement day

NOK 25 000

Central counterparty has a deposit on its account from one settlement day to the next settlement day

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
Published 27 October 2023 10:00