The Norwegian Banks’ Guarantee Fund covers deposits up to NOK 2 million per depositor per member bank.
The guarantee is triggered if a member bank fails. The bankruptcy proceedings of banks are called public administration and are defined in the Act on Financial Undertakings and Financial Groups.
The Norwegian Banks’ Guarantee Fund may also grant support measures to member banks in order to ensure going concern.
The guarantee covers deposits in all member banks to a limit of two million Norwegian kroner per depositor per bank.
All Norwegian banks are members of the Norwegian Banks’ Guarantee Fund. The guarantee covers the customers’ deposits in any member bank, including interests, limited to NOK 2 million per member bank. Membership in the Norwegian Banks’ Guarantee Fund is optional for Branches of foreign banks.
As an alternative to public administration, the Norwegian Bank’s Guarantee Fund may grant support measures, for example a loan, to a member bank.