The Norwegian Banks’ Guarantee Fund’s purpose is to guarantee for bank deposits up to NOK two million.
We help to maintain financial stability and the society's confidence in banks by:
- Guarantee for bank deposits in member banks
- Monitoring our member banks' financial situation
- Cooperate with the Financial Supervisory Authority, the Ministry of Finance and the Central Bank if one or more banks encounter difficulties in meeting their financial obligations
- Be prepared and ready to pay out guaranteed deposits shortly after the Ministry of Finance decides to place a bank under public administration
The Norwegian Banks’ Guarantee Fund’s most important responsibility is to be prepared to handle situations where one or several member banks have problems meeting their financial obligations. The Norwegian Banks’ Guarantee Fund may in accordance with the legislation and statutes provide various forms of support measures to a member bank in order to contribute to continued operations. If a bank is placed under public administration (discontinued operations) the guarantee becomes effective and The Norwegian Banks’ Guarantee Fund is obliged to pay out guaranteed deposit within a week.