Membership of the Norwegian Banks’ Guarantee Fund is mandatory for all banks with headquarters in Norway.
The Ministry of Finance may decide that in addition to banks, other credit institutions are required to be members of the Guarantee Fund.
Credit institutions with headquarters in other EEA states receiving deposits from the general public through branches in Norway, may become members of the deposit guarantee scheme. That is if the deposit guarantee scheme in the branch’s home country is not considered to provide the branch’s depositors with protection equal to the one provided in the Act. Membership requires the approval of the Ministry of Finance.
The Ministry of Finance may approve that a branch of a credit institution with headquarter outside the EEA also becomes a member of the deposit guarantee scheme.