Norges Bank

Press release

Circulation for comment regarding collateral for loans from Norges Bank

Norges Bank has today circulated for comment planned changes in the guidelines for collateral for loans from Norges Bank. The purpose of the rules is to ensure that banks have adequate access to loans while limiting Norges Bank’s exposure to risk.

- In order to enable banks to increase their borrowing from Norges Bank, collateral requirements were temporarily eased in autumn 2008. In our view, it is now appropriate to reverse this temporary measure, says Director Kristin Gulbrandsen.

The other important change in the guidelines is that as from February 2012 Norges Bank will no longer accept securities issued by banks as collateral for loans. Covered bonds will be accepted as previously.

Norges Bank requests comments from the Norwegian Financial Services Association, the Norwegian Savings Banks Association and Kredittilsynet (Financial Supervisory Authority of Norway) by 1 December 2009.

Contact:

Press telephone: +47 21 49 09 30
Email: presse@norges-bank.no

Published 22 October 2009 08:00