Banks and other financial sector undertakings pay for account management and participation in payment settlements in Norges Bank's settlement system (NBO) in accordance with the Terms and conditions for account management at Norges Bank. The prices are set to cover two-thirds of the costs of implementing, developing and operating the settlement system.

In the fourth quarter of 2021, Norges Bank has begun to use a new and more secure IT operating solution for NBO. At the same time, Norges Bank has bolstered its internal management and security monitoring of the settlement system’s IT solutions. This has entailed an increase in costs, which will be phased in into prices over two years. The prices for NBO are being increased by around 22 percent between 2021 and 2022. The remainder of the price increase of around 10 percent will be included when prices are set for 2023. 

For 2021, there are four fees relating to NBO Online, Norges Bank’s online information and transaction system for banks’ access to their NBO accounts. To simplify the fee structure somewhat, Norges Bank has decided to eliminate two of these fees. These are the NOK 5 000 fee for a new user of NBO Online and the NOK 6 000 fee to reactivate a user of NBO Online that has been deactivated by Norges Bank. Otherwise, there are not changes to the fees for breaches etc of terms and conditions for account management for 2022.

Fixed prices per month are payable monthly and will be debited from each bank's account in Norges Bank automatically on the second settlement day of the following month. Other prices and fees will be invoiced or debited separately.

Prices for Norges Bank's settlement system (NBO) for 2022

* Group A

Banks with an ordinary account in active use for one or more of the following settlement functions: Direct participation in settlement of clearings from the Norwegian Interbank Clearing System (NICS), direct participation in the international multi-currency settlement system Continuous Linked Settlement (CLS), or use by agreement of the Scandinavian Cash Pool (SCP). Banks in Group A are divided into the following two subgroups: Banks that participate directly in CLS and/or have an agreement to use the SCP (subgroup A1) and other banks in Group A (subgroup A2).

** Group B

Banks with an ordinary account in NBO that are not in Group A.

*** Contingency account

Banks without an ordinary account in Norges Bank may apply for a contingency account. A contingency account cannot be used for payment settlement until it has been activated by Norges Bank.

Fees in 2022 for breaches etc. of terms and conditions for account management at Norges Bank (NBO)

**** Quota for the number of users of NBO Online for each group of banks

• Banks in Group A1: Up to 25 users
• Banks in Group A2: Up to 15 users
• Banks in Group B: Up to 6 users