The EU has adopted changes to the Central Securities Depositories Regulation (CSDR) to introduce a shorter settlement cycle (T+1). As a result, adjustments to the NBO operating schedule are required.

We refer to the consultation letter of 3 November 2025, “Adjustments to the operating schedule for Norges Bank’s settlement system (NBO) and extended opening hours until 18:00”, which provides further background on the changes. The consultation letter is available here: Consultation: Adjustments to the operating schedule for Norges Bank's settlement system (NBO) and extended opening hours until 18:00

Norges Bank is consulting on a proposed NBO operating schedule adapted to the shorter settlement cycle (T+1), together with proposed changes to the framework for incident management. Consultation respondents are invited to comment on the proposed operating schedule and the framework for incident management. The new standard closing time for NBO at 18:00 has already been decided and is therefore not subject to consultation.

Input from the consultation will inform Norges Bank’s final assessment of the NBO operating schedule and the framework for incident management under T+1. Norges Bank expects to publish the final NBO operating schedule in December 2026.

Norges Bank requests input by 27 November 2026.

Please send your consultation response to post@norges-bank.no, using the subject line “Consultation - new operating schedule and incident management”. Consultation responses will be published on Norges Bank’s website.

Thank you for your participation.

Sincerely,