Norges Bank has told the Ministry of Finance that it supports Finanstilsynet’s proposed changes for implementing IRRD in Norwegian law. The central bank backed the proposed financing arrangement in the new crisis management framework, which is intended to ensure the resolution authority has funds available to cover resolution costs and would be financed by the industry. Under the consultation proposal, the scheme would initially be limited to compensation for breaches of the NCWO principle and direct costs linked to crisis management and crisis management preparations, including valuation. Norges Bank supported Finanstilsynet’s proposal that the arrangement should be partly pre-funded, agreeing that an ex post model could be procyclical because contributions would be collected when the sector is already under pressure and could weaken incentives for prudent risk-taking. It also said ex post funding could leave the resolution authority more dependent on temporary state funding and related decision-making processes in a crisis, reducing its ability to act quickly and effectively. Norges Bank also supported alternative 1 in the proposed calculation base for the financing scheme.
Norges Bank2026-07-01
Norges Bank supports IRRD resolution financing proposals including partial pre-funding and calculation option 1
Norges Bank backed Finanstilsynet’s proposals to implement IRRD in Norwegian law, including an industry-funded resolution financing scheme. It supported partial pre-funding over ex post funding, citing lower procyclicality, stronger risk incentives and less reliance on temporary state funding in a crisis. The bank also endorsed alternative 1 for calculating contributions.