2 million NOK

The Guarantee Fund is an important element of the security net within the banking sector. The main task of the Norwegian Banks’ Guarantee Fund is to cover deposits in member banks. The law states that deposits in a bank are absolutely guaranteed up to a total amount of 2 million NOK.

As of 1. july 2004 the Commercial Banks' Guarantee Fund and the Savings Banks Guarantee Fund were merged into one fund, the Norwegian Banks' Guarantee Fund.

The Act on guarantee Fund and The Statutes, approved by the Minister of Finance lays down the rules of The Commercial Banks’ Guarantee Fund. The amendment to the law are not yet available in English.

The General Meeting is the highest authority of the Guarantee fund. Managing director of the fund is Arne Hyttnes, head of Finance Norway (FNO).