Norges Bank has set the parameters for managing banks’ central bank reserves from Oct. 1, 2026. It will target average banking system reserves of NOK 35 billion within a symmetric range of plus or minus NOK 5 billion, while setting the aggregate quota remunerated at the policy rate at NOK 45 billion. Deposits above each bank’s quota earn the lower reserve rate. The quotas, calculated using total assets as of June 30, 2026, cover 94 monetary policy counterparties across three groups. Standard individual quotas are NOK 4.4 billion for the seven banks in Group 1, NOK 630 million for the 12 banks in Group 2 and NOK 85 million for the 75 banks in Group 3. Higher quotas apply to settlement banks, including NOK 5.6 billion for DNB Bank, NOK 4.5 billion for Danske Bank, NOK 990 million for SpareBank 1 SMN and NOK 720 million for SpareBank 1 Nord-Norge.
2026-09-01Norges Bank
Norges Bank sets NOK 35 billion reserve target and NOK 45 billion total quota from October 2026
Norges Bank will target average banking system reserves of NOK 35 billion, within a plus or minus NOK 5 billion range, from Oct. 1, 2026. The total quota remunerated at the policy rate will be NOK 45 billion, allocated among 94 counterparties with higher quotas for settlement banks.