Norwegian Banks' Guarantee Fund
The Norwegian Banks' Guarantee Fund administers the deposit guarantee, which guarantees deposits in Norwegian banks. The Norwegian Banks' Guarantee Fund is regulated by the Act on the Norwegian Banks’ Guarantee Fund of 23 March 2018 and the Financial Institutions Act of 10 April 2015, Chapter 19 and Chapter 20. The fund was established on 1 July 2004 following a merger of the Commercial Banks' Guarantee Fund and the Savings Banks' Guarantee Fund. The Savings Banks' Guarantee Fund has a history dating back to 1921, when the guarantee scheme was a voluntary scheme. All banks holding a Norwegian banking license are compulsory members of the Norwegian Banks' Guarantee Fund, while membership is optional for branches of foreign banks. The deposit guarantee covers deposits up to 2 million Norwegian kroner per depositor per member bank. If a client has deposits in several banks, the limit of 2 million Norwegian kroner applies to each of the banks. Whether the depositor is a private per ...
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Deposit Insurance
Deposit insurance or deposit protection is a measure implemented in many countries to protect bank depositors, in full or in part, from losses caused by a bank's inability to pay its debts when due. Deposit insurance systems are one component of a financial system safety net that promotes financial stability. Overview Banks are allowed (and usually encouraged) to lend or invest most of the money deposited with them instead of safe-keeping the full amounts (see fractional-reserve banking). If many of a bank's borrowers fail to repay their loans when due, the bank's creditors, including its depositors, risk loss. Because they rely on customer deposits that can be withdrawn on little or no notice, banks in financial trouble are prone to bank runs, where depositors seek to withdraw funds quickly ahead of a possible bank insolvency. Because banking institution failures have the potential to trigger a broad spectrum of harmful events, including economic recessions, policy makers mainta ...
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Government Agencies Of Norway
A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a means by which organizational policies are enforced, as well as a mechanism for determining policy. In many countries, the government has a kind of constitution, a statement of its governing principles and philosophy. While all types of organizations have governance, the term ''government'' is often used more specifically to refer to the approximately 200 independent national governments and subsidiary organizations. The major types of political systems in the modern era are democracies, monarchies, and authoritarian and totalitarian regimes. Historically prevalent forms of government include monarchy, aristocracy, timocracy, oligarchy, democracy, theocracy, and tyranny. These forms are not always mutually exclusive, and mixed govern ...
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Banking In Norway
This contains a list of banks in Norway. There are three types of banks in Norway: commercial banks, savings banks (Norwegian: Sparebank) and branches of foreign banks. Commercial banks Savings banks Foreign branches External links The Financial Supervisory Authority of NorwayRegistry of Financial Institutions {{List of banks in Europe Norway Banks Norway Norway, officially the Kingdom of Norway, is a Nordic country in Northern Europe, the mainland territory of which comprises the western and northernmost portion of the Scandinavian Peninsula. The remote Arctic island of Jan Mayen and the ...

Organizations Established In 2004
An organization or organisation (Commonwealth English; see spelling differences), is an entity—such as a company, an institution, or an association—comprising one or more people and having a particular purpose. The word is derived from the Greek word ''organon'', which means tool or instrument, musical instrument, and organ. Types There are a variety of legal types of organizations, including corporations, governments, non-governmental organizations, political organizations, international organizations, armed forces, charities, not-for-profit corporations, partnerships, cooperatives, and educational institutions, etc. A hybrid organization is a body that operates in both the public sector and the private sector simultaneously, fulfilling public duties and developing commercial market activities. A voluntary association is an organization consisting of volunteers. Such organizations may be able to operate without legal formalities, depending on jurisdiction, includ ...
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