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The history of the central bank of Norway can be traced back to 1816, when, two years after the separation from Denmark and the union with Sweden, Norges Bank was established by an Act of the Storting (the Norwegian parliament) on 14 June.
This group performed several spectacular acts of sabotage; among them smuggling out plates for the printing of Norwegian kroner from the Norwegian Central Bank to the exiled government in London and blowing up the office for Norwegian forced labour, thereby stopping the Nazis' plan of sending young Norwegian men to the Eastern Front. [3] [6]
Central bank name Currency Currency share percentage of global allocated reserves in Q4 2022 (%) Central bank governor Native name of central bank Establishment United States: Federal Reserve: United States dollar: 58.36 Jerome Powell: 1913 European Union: European Central Bank: Euro: 20.47 Christine Lagarde: 1998 Japan: Bank of Japan: Japanese ...
Issues like central bank independence, central bank policies, and rhetoric in central bank governors' discourse or the premises of macroeconomic policies [9] (monetary and fiscal policy) of the state, are a focus of contention and criticism by some policymakers, [10] researchers, [11] and specialized business, economics, and finance media. [12 ...
The global investment fund is managed by Norges Bank Investment Management (NBIM), part of the Norwegian Central Bank on the behalf of the Ministry of Finance. [ 9 ] As of June 2011, [update] it was the largest pension fund in the world, but it is not a pension fund in the conventional sense, as it derives its financial backing from oil profits ...
In 2004, Norway's gold holdings consisted of approximately 37 tonnes divided on 33.5 tonnes of bars and 3.5 tonnes of coins. [1] In 2004, Norges Bank—the central bank issuing the Norwegian crown—excluded gold from its forex reserves and sold all bars, except seven, on the international gold market in London.
Yngve Slyngstad (Norwegian pronunciation: [ˈʏ̂ŋvə ˈʂlʏ̀ŋstɑ]; born 3 November 1962) was the former CEO of Norges Bank Investment Management (NBIM) which is the part of the Norwegian Central Bank that is responsible for managing The Government Pension Fund - Global. [1]
Loans from the central bank were made far below market value and capital was injected into the market. In addition, stricter requirements were placed on any suffering banks receiving capital injections. By 1992 Norway de-pegged its currency and allowed for interest rates to fall. GDP began to rise and loan losses fell over the next few years.