The Norwegian Banks’ Guarantee Fund’s mandate is defined by legislation.
Our mandate is defined by the Law on The Norwegian Banks' Guarantee Fund. Primarily, our task is deposit insurance by undertaking payouts in case a bank fails. We may also grant support measures if a bank is unable to pay its debts when due to secure the member bank as going concern. These tasks are defined in the Financial Institutions Act chapter 19.
In addition to managing the assets of the deposit insurance fund, the Norwegian Banks' Guarantee Fund manages the assets of the resolution fund.
We assist the Financial Supervision Authority of Norway as Resolution Authority on administrative tasks related to the resolution fund. The Financial Institutions Act chapter 20 addresses resolution.