In the event of a bankruptcy the Guarantee Fund is obliged to disburse the deposits to the depositors within one week.
All member banks are subject to a regulation ( "Data Act") 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 “Data act”. 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.