Auction calendar for F-auctions with non-standard settlement dates (t+2)* and/or non-standard terms
The majority of Norges Bank’s market operations are announced and conducted on the same day as settlement.
The auction calendar is an overview of a minority of market operations, which have non-standard settlement dates and/or non-standard terms.
The calendar indicates when Norges Bank plans to undertake F-loans with settlement two days later (T+2). Norges Bank offers such F-loans ahead of days where structural liquidity will be significantly reduced, such as days with tax or VAT payments. The aim is to ensure predictability for banks’ liquidity positions. The maturity of these F-loans will depend on the forecasted development in structural liquidity. Changes in this forecast may result in changes in the auction calendar. The calendar may be updated over the year, if necessary.
The calendar also provides an overview of F-loans with full allotment at a fixed rate. Norges Bank undertakes such F-loans at quarter- and year-end, disregarding the level of structural liquidity. The aim of these is to ensure access to NOK at a price close to the policy rate on these dates. These F-loans mature on the first trading day of the following quarter.