The department is responsible for:

• in central banking operations, maintaining a comprehensive overview of market developments
• ensuring the capacity and ability to deal with crises in the financial system
• efficiently managing overall liquidity in the banking system

Executive Director: Gaute Langeland

Departmental units:

Financial Risk

The unit is responsible for the analysis and reporting of risk and return related to management activities in Norges Bank’s Markets department. The unit provides analyses and advice on the management of Norges Bank’s foreign exchange reserves and balance sheet.

Director: Per Gunnar Bull Karlsen

International Markets

The unit manages the portion of Norway's foreign exchange reserves invested in fixed income instruments. In addition, the unit is responsible for transactions in foreign exchange markets on behalf of the government.

Director: Arnes Osnes

Domestic Markets

The unit is responsible for managing overall liquidity in the banking system to ensure that the Committee's decisions on the policy rate are transmitted to short-term money market rates.

Director: Ketil Rakkestad

Government Debt Management

The unit is responsible for issuing and managing government debt in accordance with a mandate laid down by the Ministry of Finance.

Director: Marie Norum Lerbak 

Operations

The unit is responsible for support and control functions related to transaction and investment activities in Norges Bank’s Markets department. The unit also contributes to operational quality through the effective management of settlement, reconciliation and related controls, and also identifies, assesses and follows up operational risk in the Market department’s activities. In addition, Operations is responsible for contingency work in the Markets department, which includes ensuring that critical processes can be maintained in the event of disruptions, incidents and crises.

Director: Roger Rake