Norwegian Banks' Guarantee Fund

The Norwegian Banks' Guarantee Fund (Norwegian: Bankenes Sikringsfond) is a Norwegian fund for deposit insurance.

It was established on 1 July 2004, because of legislation that passed the Parliament of Norway one week before. It was a merger of the Commercial Banks' Guarantee Fund and the Savings Banks' Guarantee Fund.[1] The latter was established on 24 May 1961, itself a merger of Sikringsfondet for sparebanker, founded 1924, and the Garantikassen for sparebanker, founded 1932. The purpose of the organization is to provide a security for people who put their money in banks, and to replace that money if the bank loses it.[2]

There is also a Government Bank Insurance Fund, established on 15 March 1991 in a situation where the Commercial Banks' Guarantee Fund and the Savings Banks' Guarantee Fund both struggled.[3]

The chief executive officer is Arne Hyttnes, and the board consists of Finn Haugan (chair), Ottar Ertzeid (deputy chair), Kate Henriksen, Geir-Tore Nielsen, Gunn Wærsted, Bjørn Skogstad Aamo and Kristin Gulbrandsen.[4][5] The organizational headquarters are in Oslo.

References

  1. ↑ "About us". Norwegian Banks' Guarantee Fund. Retrieved 20 November 2010.
  2. ↑ Henriksen, Petter, ed. (2007). "Sparebankenes sikringsfond". Store norske leksikon (in Norwegian). Oslo: Kunnskapsforlaget. Retrieved 20 November 2010.
  3. ↑ Henriksen, Petter, ed. (2007). "Statens Banksikringsfond". Store norske leksikon (in Norwegian). Oslo: Kunnskapsforlaget. Retrieved 20 November 2010.
  4. ↑ "Administrasjon" (in Norwegian). Norwegian Banks' Guarantee Fund. Retrieved 20 November 2010.
  5. ↑ "Styre" (in Norwegian). Norwegian Banks' Guarantee Fund. Retrieved 20 November 2010.

External links

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