The objective of Norges Bank’s liquidity policy is to keep short-term money market rates close to the policy rate. At the same time, Norges Bank wants to facilitate a well-functioning interbank market. In recent weeks, total liquidty has been unevenly distributed between banks. As a result, considerable uncertainty has arisen about the supply of NOK. Looking ahead, Norges Bank will consider measures to strengthen distribution incentives between banks. A well functioning interbank market is the basis for the implementation of monetary policy.

To ensure banks' supply of NOK at a rate close to the policy rate, Norges Bank will offer fully allotted F-loans at fixed rates with one-day maturities. Norges Bank will offer these loans as long as the situation in the interbank market suggests that it is appropriate. The interest rates on these loans is the policy rate plus 15 basis points. The closing time for bids is 16:10. The F-loans will be announced on the same day that they are settled. Any surplus liquidity resulting from these F-loans will not be withdrawn from the banking system. The F-loans come in addition to the already announced market operations and the market operations according to the projection for structural liquidity.

Such an F-loan is offered today, Friday 25 September, and matures on Monday 28 September.