Norges Bank

Norges Bank
Norges Bank
Type Government agency
Industry Central bank
Founded 14 June 1816
Headquarters Oslo, Norway
Area served Norway
Key people Øystein Olsen (Chairman)
Employees 590 (2010)
Parent Norwegian Ministry of Finance
Norges Bank

Norges Bank / Noregs Bank is the central bank of Norway. Apart from having traditional central bank responsibilities such as financial stability and price stability, it manages The Government Pension Fund of Norway, a stabilization fund that is world's largest investment pool.[1]

On 31 December 2010, the bank had 590 employees. All Executive Board appointments are made by King Harald V, after a decision by the Council of State. The Chairman of the Executive Board, Øystein Olsen, who presides over the Bank, is also the acting Central Bank Governor. Both the Governor and the Deputy Governor make speaking appearances across the country on a number of occasions each year. The security force of the bank is the only non-military security force in Norway, including the police force, that is permanently armed with firearms.


Norges Bank Investment Management

NBIM is a separate part of Norges Bank and is responsible for the operational management of the Government Pension Fund - Global. NBIM also manages Norges Bank's foreign exchange reserves. NBIM invests the fund's assets and the foreign exchange reserves in international equities and fixed income instruments, money market instruments and derivatives.

List of Central Bank Governors

  • Karl Gether Bomhoff (1893–1920)
  • Nicolai Rygg (1920–1946)
    • Arnold C. Ræstad (head of the London branch 1940–1945)
  • Gunnar Jahn (1946–1954)
  • Erik Brofoss (1954–1970)
  • Knut Getz Wold (1970–1985)
  • Hermod Skånland (1985–1993)
  • Torstein Moland (1994–1995)
  • Kjell Storvik (1996–1998)
  • Svein Gjedrem (1999–2010)
  • Øystein Olsen (2011–present)


See also


External links

Coordinates: 59°54′31.07″N 10°44′36.66″E / 59.9086306°N 10.7435167°E / 59.9086306; 10.7435167

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