Norges Bank


The department monitors, communicates and analyses relevant developments in money and capital markets.

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:

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 Executive Board's decisions on the key 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 


The unit is responsible for measuring and managing the financial risk associated with the items on Norges Bank's balance sheet, including the foreign exchange reserves. The unit also performs support and control functions for the MI department's trading and investment activities.

Director: Roger Rake

Edited 20 June 2023 09:10


Tel: +47 22 31 61 60

Foreign exchange:
+47 22 31 66 00

Government debt:
+47 22 31 61 40

Edited 20 June 2023 09:10