"These systems constitute the core of the financial infrastructure. If they do not function, the economy would quickly come to a halt. In 2012, system operation was stable," says Governor Øystein Olsen in connection with the presentation of Norges Bank's Annual Report on Payment Systems.

A new fourth daily interbank settlement is speeding up payment transactions. At the same time, the introduction of exposure limits has reduced the risk exposure of private settlement banks.

There is little payment instrument fraud in Norway, but the risk environment is constantly changing. It is important, but also a challenge, for banks to maintain confidence in payment solutions. Without confidence, a payment instrument will not function effectively.

"In Norges Bank's judgement, payment services in Norway are efficient, compared with other countries. Payments can, in general, be executed quickly, securely and at low cost," the Governor says.