The department promotes a robust financial system.
- Monitoring financial stability
- Advising on measures to prevent systemic risk
- Contributing to developing a sound regulatory framework for the financial system
- Acting as the licensing authority for interbank systems and monitoring payment systems
- Conducting research and analysis to support the department in the performance of its duties
- Meeting society's demand for cash in a manner that promotes efficiency in the payment system
- Ensuring that the central bank's role as the bankers' bank and the government's bank is performed efficiently
Executive Director: Torbjørn Hægeland
The unit monitors and analyses developments in financial institutions and markets, with a view to taking action to enhance the resilience of the financial system. This entails analyses of institutions' solvency, profitability and funding and the way they adapt to capital and liquidity standards. The objective is framework conditions and rules for the financial sector that promote financial stability and the efficient production of financial services. An important part of this is systems for crisis management and contingency preparedness.
Director: Sindre Weme
The unit discharges Norges Bank's responsibility pursuant to the Norges Bank Act as issuer of notes and coins. It ensures that new notes and coins are supplied as the need arises, and that old, worn notes and coins are removed and destroyed. The unit is responsible for new issues and improvements of notes and coins designed to make them an effective means of payment. Information on the appearance and properties of notes and coins, particularly when changes are made, is important for ensuring that they are received with the necessary confidence, and the provision of information is therefore one of the department's key responsibilities.
Director: Leif Veggum
The main responsibilities of the Interbank Settlement Unit are the operation and development of Norges Bank's settlement system (NBO) and the management of banks' collateral for loans from Norges Bank. The unit also manages the central government's accounts at Norges Bank.
Director: Kjetil Heltne
The unit works to ensure a robust financial system by applying macroprudential tools and monitoring systemic risk. This involves responsibility for both identifying emerging vulnerabilities and recommending measures to reduce the financial system's vulnerability to shocks. The unit assesses the impact of banks' exposure to household and corporate credit risk on their capital adequacy. The unit also examines how interdependencies between banks and exposure to common risk factors affect the financial stability outlook.
Director: Henrik Borchgrevink
The unit is responsible for the licensing and supervision of important interbank systems in Norway and for oversight of settlement systems for securities and derivatives trades. Risk in the settlement systems and its significance for financial stability is an important aspect of the unit's analytical work. This work also includes assessments of the financial infrastructure and the efficiency of the payment system. The unit prepares an annual report on developments in the payment system.
Director: Anna Grinaker
Payment analysis and innovation
The unit detects and analyses changes in the payment system with relevance to Norges Bank's roles and initiates measures to improve the payment system.
Director: Knut Sandal
The unit develops models and analytical tools to enhance the basis for monetary policy decision-making and macro-prudential policy guidance. The unit has a special responsibility for the maintenance and the development of Norges Bank's core macroeconomic model, NEMO, and the system for averaging short-term forecasting models (SAM). The unit develops and deploys models for macro-prudential stress testing. In addition, the modelling unit develops macro-models based on heterogeneous agents which are estimated/calibrated based on microdata.
Director: Karsten Gerdrup