Norges Bank will take over as administrator of Nowa from 1 January 2020 and has today adopted new principles for calculating and publishing Nowa. Proposed principles were circulated for comment on October 15 2019. The adopted principles have changed little from the consultation proposal.

The principles specify the dataset, definition, calculation method and publishing routines. Compared with the current Nowa, the new principles will entail minor changes to the interest rate on most days. The biggest differences will be on days with insufficient transaction data. This is discussed in more detail in Norges Bank Paper New principles for calculating and publishing Nowa – possible implications

Principles for calculating and publishing Nowa (pdf)

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