Norges Bank has extended the period that extraordinary NOK F-loans will be offered to the end of August 2020, with some changes as to which maturities are offered and when the different maturities will be offered after 29 May, see updated auction calendar. The conditions of the extraordinary F-loans are not changed.

The following conditions apply:

• The interest rate on F-loans with a maturity of one week, one month and three months is the prevailing policy rate.
• The interest rate on F-loans with a maturity of six months is the prevailing policy rate plus 15 basis points.
• The interest rate on F-loans with a maturity of twelve months is the prevailing policy rate plus 30 basis points.
• All extraordinary F-loans will be fully allotted. All banks will receive the desired volume at the announced interest rate. The same collateral requirements will apply as for ordinary F-loans.
• Norges Bank will continue to aim to keep central bank reserves (banks' unrestricted bank deposits at the central bank) overnight at around NOK 35 billion (with a target range of plus/minus NOK 5 billion).
• Surplus liquidity will be withdrawn from the banking system using daily F-deposits with one-day maturity. Banks can then draw on the liquidity from the extraordinary F-loans on a daily basis.
• Norges Bank will offer extraordinary F-loans for as long as is deemed appropriate. The calendar will be updated on a continuous basis.