In the rare event of a member bank failure, the Guarantee Fund is obliged to make covered deposits available to the depositor within seven working days after the bank deposit became unavailable.
All member banks are subject to a regulation "Innskuddsgarantiforskriften", which states requirements to the banks’ IT systems. The systems must at all times be able to produce electronically readable lists (balance, - payment and transaction lists). In April 2015 the Guarantee Fund published, in agreement with the FSA (The Financial Supervisory Authority of Norway), a guideline to the regulation. The purpose of the guideline is contributing to that the Guarantee Fund receives necessary information and data, in order to make a fast and accurate disbursement of guaranteed deposits in the event of a bankruptcy. The Guarantee Fund has also prepared a checklist to banks in the case of a submission of lists to us.
The guideline and checklist is only available in Norwegian.