The Norwegian Ministry of Finance announced that amendments to the Central Bank Act have been sanctioned and will enter into force on 1 April 2026, including a new contingency mechanism to secure state liquidity in severe crises. The changes create an exception to the statutory prohibition on Norges Bank providing direct credit to the state. In serious situations where other funding sources are difficult to access, the state may instruct Norges Bank to provide credit with a maturity of up to 90 days, within the framework set by the Government Pension Fund Act. Other amendments adjust disqualification rules for membership of Norges Bank’s Executive Board, the Committee for Monetary Policy and Financial Stability and the Supervisory Council, clarify which Chapter 1 provisions do not apply to Norges Bank’s management of the Government Pension Fund Global (SPU) including the Executive Board’s role in appointing the SPU management’s chief executive, and allow Norges Bank to obtain information from the National Population Register when necessary for central banking purposes, subject to minimising reporting burdens. Parliament adopted the amendments on 12 March 2026 following a consultation launched in November 2024 with a deadline of 31 January 2025 and a government proposal submitted in November 2025.
Department of Finance (Norway) 2026-03-20
Norwegian Ministry of Finance activates Central Bank Act amendments enabling 90 day emergency credit from Norges Bank to the state
The Norwegian Ministry of Finance has amended the Central Bank Act, effective 1 April 2026, introducing a contingency mechanism for state liquidity in crises. The amendments allow Norges Bank to provide direct credit to the state under specific conditions and adjust disqualification rules for its governance bodies. Additional changes clarify the management of the Government Pension Fund Global and allow access to the National Population Register for central banking purposes.