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Statistical annex.

Financial institution balance sheets

1. Norges Bank. Balance sheet

2. Norges Bank. Specification of international reserves

3. State lending institutions. Balance sheet

4. Commercial and savings banks. Balance sheet

5. Commercial and savings banks. Loans and deposits distributed by private sector and municipalities

6. Private mortgage companies. Balance sheet

7. Private finance companies. Balance sheet

8. Life insurance companies. Main assets

9. Private and municipal pension funds. Main assets

10. Non-life insurance companies. Main assets

11 a. Mutual funds' assets. Market value

11 b. Stocks of mutual funds shares by holding sectors. Market value

Securities statistics

12. Stocks of shares registered with the Norwegian Central Securities Depository (VPS) by holding sectors. Estimated market value

13. Stocks of shares and primary capital certificates registered with the Norwegian Central Securities Depository by issuing sectors. Nominal value

14. Net purchases and net sales (-) in the primary and secondary markets of shares registered with the Norwegian Central Securities Depository by purchasing, selling and issuing sectors. Estimated market value

15. Stocks of NOK-denominated bonds registered with the Norwegian Central Securities Depository by holding sectors. Market value

16. Stocks of NOK-denominated bonds registered with the Norwegian Central Securities Depository by issuing sectors. Nominal value

17. Net purchases and net sales (-) in the primary and secondary markets of NOK-denominated bonds registered with the Norwegian Central Securities Depository by purchasing, selling and issuing sectors. Estimated market value

18. Stocks of NOK-denominated short-term securities registered with the Norwegian Central Securities Depository by holding sectors. Market value

19. Stocks of short-term securities by issuing sectors. Nominal value

Credit and liquidity trends

20. Inter-company loans. Amounts outstanding

21. Credit indicator and money supply

22. Domestic credit supply to the private sector and municipalities, by source

23. Composition of money supply

24. Household financial balance. Financial investments and holdings, by financial instrument

25. Money market liquidity. Liquidity effect from 1 January to end period

Interest rate statistics

26. Nominal interest rates for NOK

27. Short-term interest rates for key currencies in the Euro-market

28. Yields on Norwegian bonds

29. Yields on government bonds in key currencies

30. Commercial and savings banks. Average interest rates and commissions on utilised loans in NOK to the private and municipal sector at end of quarter

31. Commercial and savings banks. Average interest rates on deposits in NOK from the private and municipal sector at end of quarter

32. Life insurance companies. Average interest rates by type of loan at end of quarter

33. Mortgage companies. Average interest rates, incl. commissions on loans to private sector at end of quarter

Profit/loss and capital adequacy data

34. Profit/loss and capital adequacy: commercial banks

35. Profit/loss and capital adequacy: savings banks

36. Profit/loss and capital adequacy: finance companies

37. Profit/loss and capital adequacy: mortgage companies

Exchange rates

38. The international value of the krone and exchange rates against selected currencies. Monthly average of representative market rates

39. International parities. Monthly average of representative exchange rates

Balance of payments

40. Balance of payments

41. Norway's foreign assets and debt

International capital markets

42. Changes in banks' international assets

43. Banks' international claims by currency

44. Funds raised on international markets, by type of instrument

45. Funds raised on international markets, by borrowing country/institution

Foreign currency trading

46. Foreign exchange banks. Foreign exchange purchased/sold forward with settlement in NOK

47. Foreign exchange banks. Overall foreign currency position

48. Transactions relating to Norges Bank's exchange market operations

Financial institution balance sheets
Table 1. Norges Bank. Balance sheet. In millions of NOK

 31/12 30/9 31/12
 1999 2000 2000

FINANCIAL ASSETS

Foreign assets 427 452 601 301 646 120
International reserves(1)(2) 193 589 230 258 245 863
Investment of Gouvernment Petroleum Fund 222 277 356 736 386 126
Other foreign assets 11 586 14 307 14 131

Claims on Norwegian financial institutions 25 658 72 22 194
Loans to private banks 25 574 12 21 158
Other assets in the form of deposits,
securities, loans and overdrafts 84 60 1 036

Claims on central government 11 099 13 705 13 909
Bearer bonds 9 180 10 623 10 743
Other securities 1 592 2 527 2 776
Other claims 327 555 390

Claims on other Norwegian sectors 961 1 313 1 306
Securities and loans 567 585 576
Other claims 394 728 730

Stock, production units 43 40 26

Fixed assets 2 010 1 959 1 939

Valuation adjustments -- 0 0

Expenses -- 26 633 0

Total assets 467 223 645 023 685 494

LIABILITIES AND CAPITAL

Foreign liabilities 38 925 65 602 74 998
IMF debt in NOK 11 561 14 283 14 107
Other foreign liabilities 27 364 51 319 60 891

Notes and coins in circulation 48 020 42 390 46 952

Domestic deposits 326 109 423 017 505 837
Treasury 67 686 28 055 96 083
Gouvernment Petroleum Fund 222 277 356 736 386 126
Other public administration
 (excl. municipalities) 216 172 293
Private banks 33 344 35 759 21 647
Other financial institutions 2 484 2 181 1 591
Other Norwegian sectors 102 114 97

Accrued interest to the Treasury 934 0

Other domestic debt(3) 21 226 42 760 10 955

Calculated value of SDRs in IMF 1 847 1 994 1 934

Capital 31 096 31 096 44 818

Valuation adjustments -- 18 081 0

Revenues -- 19 149 0

Total liabilities and capital 467 223 645 023 685 494

Off balance-sheet items:
Foreign currency sold forward 7 777 30 133 32 595
Foreign currency purchased forward 40 31 536 25 699
Derivatives sold 59 233 77 743
Derivatives purchased 13 285 67 997 83 094
Allotted, unpaid shares in the BIS 304 304 314

 31/1 28/2
 2001 2001

FINANCIAL ASSETS

Foreign assets 640 740 647 561
International reserves(1)(2) 229 543 245 705
Investment of Gouvernment Petroleum Fund 397 484 388 005
Other foreign assets 13 713 13 851

Claims on Norwegian financial institutions 14 035 44
Loans to private banks 14 008 6
Other assets in the form of deposits,
securities, loans and overdrafts 27 38

Claims on central government 13 110 13 988
Bearer bonds 10 744 10 823
Other securities 1 918 2 647
Other claims 448 518

Claims on other Norwegian sectors 1 405 1 164
Securities and loans 581 581
Other claims 824 583

Stock, production units 26 34

Fixed assets 1 932 1 920

Valuation adjustments 1 563 12 243

Expenses 2 567 2 368

Total assets 675 378 679 322

LIABILITIES AND CAPITAL

Foreign liabilities 57 824 60 742
IMF debt in NOK 13 689 13 826
Other foreign liabilities 44 135 46 916

Notes and coins in circulation 43 153 42 381

Domestic deposits 510 430 504 947
Treasury 100 735 107 497
Gouvernment Petroleum Fund 397 484 388 005
Other public administration
 (excl. municipalities) 106 121
Private banks 10 495 7 711
Other financial institutions 1 512 1 513
Other Norwegian sectors 98 100

Accrued interest to the Treasury 394 776

Other domestic debt(3) 14 122 10 296

Calculated value of SDRs in IMF 1 922 1 942

Capital 44 818 44 818

Valuation adjustments 0 0

Revenues 2 715 13 420

Total liabilities and capital 675 378 679 322

Off balance-sheet items:
Foreign currency sold forward 35 995 32 976
Foreign currency purchased forward 37 883 35 381
Derivatives sold 114 443 112 222
Derivatives purchased 188 116 154 784
Allotted, unpaid shares in the BIS 314 314

(1) International reserves include bonds subject to repurchase
agreements.

(2) Securities and gold are valued at fair value as from
December 1999.

(3) The Transfer Fund is classified as "Other domestic debt".
Table 2. Norges Bank. Specification of international reserves(1).
In millions of NOK

 31/12 30/9 31/12
 1999 2000 2000

Gold 2 207 2 345 2 275
Special Drawing Rights in the IMF 3 279 2 747 2 713
Reserve position in the IMF 6 837 5 584 5 166
Loans to the IMF 1 338 1 346 1 269
Banks deposits abroad 48 255 73 108 73 397
Foreign Treasury bills 155 1 1
Foreign bearer bonds(2) 128 461 142 274 157 893
Loans, foreign banks -- -- --
Accrued interest 3 056 2 853 3 190
Short-term assets -- -- -40

Total 193 588 230 258 245 863

 31/1 28/2
 2001 2001

Gold 2 212 2 258
Special Drawing Rights in the IMF 2 450 2 503
Reserve position in the IMF 5 467 5 522
Loans to the IMF 1 252 1 265
Banks deposits abroad 70 250 75 868
Foreign Treasury bills 1 79
Foreign bearer bonds(2) 144 933 155 185
Loans, foreign banks -- --
Accrued interest 3 034 3 091
Short-term assets -56 -64

Total 229 543 245 705

(1) Securities are valued at fair value as from December 1999.

(2) Includes bonds subject to repurchase agreements.

Source: Norges Bank
Table 3. State lending institutions. Balance sheet. In
millions of NOK

 31/12 31/3 30/6
 1999 2000 2000

Cash holdings and bank deposits 4 109 2 683 2 672
Total loans 191 445 164 151 165 927
Of which:
To the private sector
 and municipalities 189 598 162 323 164 086
Other claims on the Treasury 807 806 --
Other assets 9 973 8 353 7 107

Total assets 206 334 175 993 175 706

Bearer bond issues 28 652 84 79
Of which:
 In Norwegian kroner 28 652 84 79
 In foreign currency -- -- --
Other loans 162 602 165 548 165 707
Of which:
 Treasury 162 309 165 462 165 707
Other liabilities, etc. 8 282 4 225 4 571
Share capital, reserves 6 798 6 136 5 349

Total liabilities and capital 206 334 175 993 175 706

 30/9 31/12
 2000 2000

Cash holdings and bank deposits 2 602 3 007
Total loans 168 556 169 868
Of which:
To the private sector
 and municipalities 166 698 167 853
Other claims on the Treasury -- --
Other assets 8 352 7 009

Total assets 179 510 179 884

Bearer bond issues 61 57
Of which:
 In Norwegian kroner 61 57
 In foreign currency -- --
Other loans 168 212 168 870
Of which:
 Treasury 168 212 168 870
Other liabilities, etc. 5 799 5 502
Share capital, reserves 5 438 5 455

Total liabilities and capital 179 510 179 884

Sources: Statistics Norway and Norges Bank
Table 4. Commercial and savings banks.(1) Balance sheet.
In millions of NOK

 31/12 31/3 30/6
 1999 2000 2000

Cash 5 116 4 036 4 538
Deposits with Norges Bank 33 490 14 296 21 809
Deposits with commercial
 and savings banks 13 594 18 596 19 411
Deposits with foreign banks 26 591 38 007 46 908
Treasury bills 13 702 9 939 9 784
Other short-term paper 27 615 19 694 16 432
Bonds issued by govt. and
 by state lending inst. 12 009 11 532 9 978
Other bearer bonds 42 584 49 451 53 358
Loans to foreign countries 50 519 54 103 51 620
Loans to the private sector
 and municipalities 819 535 845 197 886 541
Of which:
 In foreign currency 58 199 67 254 71 484
Loans to pvt. mortgage and
 fin. cos., insurance etc.(2) 54 576 60 051 61 769
Loans to central government and
 social security admin. 22 717 46 928 19 653
Other assets(3) 75 730 90 475 86 631

Total assets 1 197 778 1 262 305 1 288 43

Deposits from the private
 sector and municipalities 586 208 594 326 626 993
Of which:
 In foreign currency 19 659 19 222 22 099
Deposits from commercial and
 savings banks 14 465 17 621 19 395
Deposits from mortgage and fin.
 comp. and ins. etc.(2) 30 912 34 143 35 922
Deposits from central
 government social
 security admin. and state
 lending inst. 28 952 51 504 23 676
Funds from CDs 59 494 72 606 66 040
Loans and deposits from Norges Bank 25 906 439 2 549
Loans and deposits from abroad 145 759 155 796 165 524
Other liabilities 214 840 246 713 254 731
Share capital/primary capital 24 014 23 948 24 274
Allocations, reserves etc. 56 404 62 459 62 297
Net income 10 824 2 750 7 181

Total liabilities and capital 1 197 778 1 262 305 1 288 43

Specifications:

Foreign assets 101 624 120 391 130 722
Foreign debt 255 809 297 631 309 170

 30/9 31/12
 2000 2000

Cash 4 269 4 879
Deposits with Norges Bank 36 561 22 654
Deposits with commercial
 and savings banks 18 913 16 524
Deposits with foreign banks 34 797 49 487
Treasury bills 6 341 7 116
Other short-term paper 11 306 14 997
Bonds issued by govt. and
 by state lending inst. 6 990 9 476
Other bearer bonds 64 043 66 527
Loans to foreign countries 52 602 48 895
Loans to the private sector
 and municipalities 924 547 938 075
Of which:
 In foreign currency 87 961 80 361
Loans to pvt. mortgage and
 fin. cos., insurance etc.(2) 67 795 69 587
Loans to central government and
 social security admin. 39 304 21 780
Other assets(3) 97 776 82 418

Total assets 1 365 244 1 352 415

Deposits from the private
 sector and municipalities 634 566 646 066
Of which:
 In foreign currency 23 621 22 594
Deposits from commercial and
 savings banks 20 176 18 107
Deposits from mortgage and fin.
 comp. and ins. etc.(2) 34 156 32 254
Deposits from central
 government social
 security admin. and state
 lending inst. 46 687 26 160
Funds from CDs 82 897 79 644
Loans and deposits from Norges Bank 1 260 24 446
Loans and deposits from abroad 169 724 157 463
Other liabilities 278 705 267 175
Share capital/primary capital 24 300 24 821
Allocations, reserves etc. 62 527 63 922
Net income 10 246 12 357

Total liabilities and capital 1 365 244 1 352 415

Specifications:

Foreign assets 125 769 136 822
Foreign debt 334 959 324 794

(1) Postbanken is included.

(2) Includes mortgage companies, finance companies, life and
non-life insurance companies and other financial institutions.

(3) Incl. unspecified loss provisions (negative figures) and
loans and other claims not specified above.

Sources: Statistics Norway and Norges Bank
Table 5. Commercial and savings banks.(1) Loans and deposits
distributed by private sector and municipalities. In millions of NOK

 31/12 31/3 30/6
 1999 2000 2000

Loans to:
Local government (incl.
 municipal enterprises) 15 222 12 827 14 021
Enterprises2) 279 023 294 013 314 187
Households3) 525 290 538 357 558 333

Total loans to the private sector
 and municipalities 819 535 845 197 886 541
Deposits from:
Local government (incl.
 municipal enterprises) 30 000 30 001 37 778
Enterprises2) 189 792 186 498 189 424
Households3) 366 416 377 827 399 791

Total deposits from the private
 sector and municipalities 586 208 594 326 626 993

 30/9 31/12
 2000 2000

Loans to:
Local government (incl.
 municipal enterprises) 13 588 14 421
Enterprises2) 333 175 331 323
Households3) 577 784 592 331

Total loans to the private sector
 and municipalities 924 547 938 075
Deposits from:
Local government (incl.
 municipal enterprises) 36 149 42 741
Enterprises2) 199 872 203 201
Households3) 398 545 400 124

Total deposits from the private
 sector and municipalities 634 566 646 066

(1) Postbanken is included.

(2) Incl. private enterprises with limited liability etc., and
state enterprises.

(3) Incl. unincorporated enterprises, the self-employed and wage
earners, etc.

Sources: Statistics Norway and Norges Bank
Table 6. Private mortgage companies. Balance sheet. In
millions of NOK

 31/12 31/3 30/6
 1999 2000 2000

Cash and bank deposits 2 002 2 959 5 460
Notes and certificates 849 6 748 4 891
Bonds issued by govt. and by
 state lending inst. 1 125 1 402 1 311
Other bearer bonds 22 858 30 705 31 465
Loans to:
Financial enterprises 8 110 10 950 12 583
Private sector and municipalities 93 342 128 080 132 217
Other sectors 15 314 16 706 15 670
Other assets 4 208 3 868 2 613

Total assets 147 669 201 436 206 210

Notes and certificates 21 676 37 433 28 562
Bearer bond issues in NOK(1)) 32 506 60 284 60 612
Bearer bond issues in foreign
 currency(1)) 55 479 57 843 63 396
Other funding 25 400 32 035 38 038
Equity capital 9 175 9 875 10 673
Other liabilities 2 859 3 966 4 929

Total liabilities and capital 147 669 201 436 206 210

 30/9 31/12
 2000 2000

Cash and bank deposits 8 137 3 606
Notes and certificates 13 686 6 114
Bonds issued by govt. and by
 state lending inst. 1 063 1 006
Other bearer bonds 31 216 26 861
Loans to:
Financial enterprises 14 403 17 668
Private sector and municipalities 133 858 143 948
Other sectors 13 010 13 839
Other assets 751 -1 325

Total assets 216 124 211 717

Notes and certificates 33 145 21 453
Bearer bond issues in NOK(1)) 59 269 59 870
Bearer bond issues in foreign
 currency(1)) 58 490 67 861
Other funding 50 062 46 253
Equity capital 10 678 11 036
Other liabilities 4 480 5 244

Total liabilities and capital 216 124 211 717

(1) Purchases of own bearer bonds deducted.

Sources: Statistics Norway and Norges Bank
Table 7. Private finance companies. Balance sheet. In millions

 31/12 30/3 30/6
 1999 2000 2000

Cash and bank deposits 1 505 1 424 1 462
Notes and certificates 10 -- --
Bearer bonds 64 64 58
Loans(1) (gross) to: 61 352 63 030 64 901
 Private sector and municipalities (net) 58 802 60 554 62 163
 Other sectors (net) 2 389 2 333 2 614
Other assets2) 2 195 2 092 2 003

Total assets 65 126 66 610 68 424

Notes and certificates 600 642 502
Bearer bonds 338 323 323
Loans from non-banks 9 391 8 404 8 128
Loans from banks 43 821 45 829 48 420
Other liabilities 5 111 5 598 5 188
Capital, reserves 5 865 5 814 5 863

Total liabilities and capital 65 126 66 610 68 424

 30/9 31/12
 2000 2000

Cash and bank deposits 1 519 1 173
Notes and certificates -- 101
Bearer bonds 58 54
Loans(1) (gross) to: 67 587 70 230
 Private sector and municipalities (net) 64 487 66 813
 Other sectors (net) 2 940 3 256
Other assets2) 2 414 1 936

Total assets 71 578 73 494

Notes and certificates 187 57
Bearer bonds 323 133
Loans from non-banks 8 054 9 517
Loans from banks 50 803 51 830
Other liabilities 6 389 5 957
Capital, reserves 5 822 6 000

Total liabilities and capital 71 578 73 494

(1) Includes subordinated loan capital and leasing finance.

(2) Includes specified and unspecified loan loss provisions
(negative figures).

Source: Norges Bank
Table 8. Life insurance companies. Main assets. In millions of NOK

 30/9 31/12 30/3
 1999 1999 2000

Cash and bank deposits 5 027 7 376 5 689
Norwegian notes and certificates 16 381 11 983 11 680
Foreign Treasury bills and notes 291 337 194
Norwegian bearer bonds 94 954 96 446 94 100
Foreign bearer bonds 60 254 61 222 68 163
Norwegian shares and units 36 390 43 741 45 207
Foreign shares and units 56 294 76 162 83 917
Interests in group or
 associated companies 4 428 5 178 6 271
Loans to the private sector
 and municipalities 26 303 25 063 24 479
Loans to other sectors 842 885 92
Other specified assets 38 761 38 219 38 578

Total assets 339 925 366 612 379 199

 30/6 30/9
 2000 2000

Cash and bank deposits 8 978 7 828
Norwegian notes and certificates 10 544 14 515
Foreign Treasury bills and notes 170 --
Norwegian bearer bonds 89 732 88 347
Foreign bearer bonds 68 195 72 397
Norwegian shares and units 46 699 47 654
Foreign shares and units 82 826 83 060
Interests in group or
 associated companies 6 358 6 985
Loans to the private sector
 and municipalities 23 860 23 473
Loans to other sectors 916 941
Other specified assets 40 814 40 622

Total assets 379 092 385 822

Source: Statistics Norway
Table 9. Private and municipal pension funds.(1) Main assets.
In millions of NOK

 30/6 30/9 31/12 31/3 30/6
 1999 1999 2000 2000 2000

Cash and bank deposits 6 043 5 872 5 533 3 797 4 909
Norwegian bearer bonds 47 077 47 553 47 253 44 770 45 510
Loans to the private sector 5 270 5 340 5 350 6 010 4 970
 and municipalities
Other specified assets 26 213 26 792 30 472 33 661 35 700

Total assets 84 603 85 557 88 608 88 238 91 089

(1) Estimates based on a selection of institutions representing about
50% of aggregate total assets.

Source: Norges Bank
Table 10. Non-life insurance companies. Main assets. In millions
of NOK

 30/9 31/12 31/3 30/6 30/9
 1999 1999 2000 2000 2000

Cash and bank deposits 6 154 7 976 7 169 6 157 6 511
Norwegian notes and
 certificates 5 304 5 297 5 058 4 065 3 992
Foreign notes and
 certificates 186 223 246 238 293
Norwegian bearer bonds 14 864 11 352 13 555 13 985 13 923
Foreign bearer bonds 12 036 10 437 11 577 13 109 14 600
Norwegian shares 7 570 7 258 7 146 6 966 6 838
Foreign shares 9 590 10 084 10 466 9 516 9 059
Interests in group or
 associated companies 7 167 7 298 7 796 6 539 6 609
Loans to the private sector
 and municipalities 3 297 1 320 1 328 1 306 1 187
Loans to other sectors 122 130 144 144 110
Other specified sectors 17 352 35 781 38 532 38 781 38 485

Total assets 83 642 97 156 103 017 100 806 101 607

Source: Statistics Norway
Table 11a. Mutual funds' assets. Market value. In millions of NOK

 30/9 31/12 31/3 30/6 30/9
 1999 1999 2000 2000 2000

Bank deposits 2 750 4 761 5 015 5 186 6 019
Short-term securities
issued by central
government and state
 lending institutions 2 284 1 402 1 561 1 604 2 158
Short-term securities
 issued by other
 domestic sectors 11 807 12 345 12 443 15 498 18 024
Short-term securities
 issued by the rest of
 the world 5 -- -- -- --
Bonds issued by central
 government and
 statelending
 institutions 4 069 4 156 2 858 3 027 2 953
Bonds issued by other
 domestic sectors 14 508 15 735 15 969 13 706 14 087
Bonds issued by the rest
 of the world 1 178 1 623 1 942 1 995 2 167
Shares issued by other
 domestic sectors
Shares issued by the
 rest of the world 24 960 34 707 43 981 46 505 52 037
Other assets 1 256 1 297 1 354 1 423 1 692

Total assets 103 916 122 198 133 542 137 151 148 325

Sources: Norwegian Central Securities Depository and Norges Bank
Table 11b. Stocks of mutual funds shares by holding sector. Market
value. In millions of NOK

 30/9 31/12 31/3 30/6 30/9
 1999 1999 2000 2000 2000

Central government and
 social security
 administration 319 305 329 354 389
Commercial and savings
 banks 1 795 1 927 2 170 1 835 3 110
Other financial
 corporations 10 174 10 951 10 892 11 710 11 613
Local government
 corporations and
 municipal enterprises 4 907 5 035 5 078 5 046 5 038
Other corporations 21 402 25 366 28 346 28 230 30 680
Households 61 976 75 412 83 182 86 516 93 791
Rest of the world 2 168 2 096 2 444 2 357 2 603

Mutual funds shares
 in total 102 743 121 094 132 441 136 050 147 224

Sources: Norwegian Central Securities Depository and Norges Bank +
The Norwegian Mutual Fund Association

Securities statistics
Table 12. Stocks of shares registered with the Norwegian Central
Securities Depository (VPS) by holding
sectors. Estimated market value. In millions of NOK

 30/9 31/12 30/9 31/3 30/6
 1999 1999 2000 2000 2000

Central government and
 social security
 administration 77 114 89 383 86 572 100 479 95 110
State lending
 institutions 22 18 18 17 18
Commercial and savings
 banks(1) 9 819 12 222 13 094 15 376 14 406
Insurance companies, etc. 50 588 57 778 55 090 54 559 53 587
Finance institutions and
 mortgage companies 166 185 185 198 176
Local government incl.
 municipal enterprises 2 363 3 447 3 570 3 449 3 408
State enterprises 27 199 25 972 28 375 27 403 29 669
Mutual funds 40 154 46 918 47 387 50 009 48 371
Other corporations 136 694 185 989 186 649 210 979 197 949
Households 44 815 55 401 61 357 69 118 63 041
Rest of the world 149 969 183 310 198 671 243 594 210 026
Unspecified sector 1 132 987 1 940 1 540 1 298

Total 540 035 661 609 683 268 776 722 717 059

(1) The banks' guarantee funds are included in this sector.

Sources: Norwegian Central Securities Depository and Norges Bank
Table 13. Stocks of shares and primary capital certificates
registered with the Norwegian Central Securities Depository by
issuing sectors. Nominal value. In millions of NOK

 30/9 31/12 31/3 30/6 30/9
 1999 1999 2000 2000 2000

Savings banks 8 848 8 905 8 905 8 965 8 981
Commercial banks 13 224 14 636 14 636 14 703 14 708
Insurance companies 1 215 1 215 1 215 1 215 1 215
Finance institutions and
 mortgage companies 2 018 2 018 2 018 2 018 2 018
State enterprises 6 840 7 090 7 090 7 090 7 091
Other enterprises 38 332 47 927 48 671 50 455 51 365
Rest of the world 3 746 4 692 5 318 5 909 6 427
Unspecified sector 0 0 0 0 0

Total 74 224 86 854 87 648 90 356 90 356

Sources: Norwegian Central Securities Depository and Norges Bank
Table 14. Net purchase and net sales (-) in the primary and secondary
markets of shares registered with the Norwegian Central Securities
Depository, by purchasing, selling and issuing sector(1).
Estimated market value. In millions of NOK

Q1-Q3 2000

 Purchasing/selling sector

 Norges Bank
 Cent. gov't and state Com. and
 and social lending savings Insurance
Issuing sector security institutions banks (2) companies

Commercial banks 0 0 2 115 -564
Insurance companies 0 0 0 9
 Finance
 institutions and
 mortgage companies 0 0 0 0
State enterprises 105 0 -563 -1 812
Other corporations -362 -0 1 147 -6 981
Rest of the world 2 0 10 333 -225
Unspecified sector 0 0 0 0

Total -225 0 13 032 -9 604

 Purchasing/selling sector

 Other Local governm. Other
 financial and municip. corpo- House-
Issuing sector corporations enterpr. rations(3) holds

Commercial banks -9 -1 -531 730
Insurance companies 0 -1 -1 -5
 Finance
 institutions and
 mortgage companies 0 0 1 -1
State enterprises -10 -42 -1 644 -413
Other corporations -13 -12 -25 431 22 356
Rest of the world 5 33 -2 754 967
Unspecified sector 0 0 0 0

Total -27 -24 -30 359 23 633

 Purchasing/selling sector

 Rest of Unspeci-
Issuing sector the world fied Total(4)

Commercial banks -1 663 26 102
Insurance companies -1 0 0
 Finance
 institutions and
 mortgage companies 0 0 0
State enterprises 4 423 0 43
Other corporations 32 488 1 016 24 208
Rest of the world -5 016 122 3 437
Unspecified sector 0 0 0

Total 30 230 1 164 27 790

(1) Issues at issue price + purchases at market value - sales at
market value - redemption value.

(2) The banks' guarantee funds are included in this sector.

(3) Including mutual funds and state enterprises.

(4) Total shows net issues in the primary market. Purchases and
sales in the secondary market result in redistribution between
owner sectors, but add up to 0.

Sources: Norwegian Central Securities Depository and Norges Bank
Table 15. Stocks of NOK-denominated bonds registered with the
Norwegian Central Securities Depository
by holding sectors. Market value. In millions of NOK

 30/9 31/12 30/9 31/3 30/6
 1999 1999 2000 2000 2000

Central government
 administration and
 social security sector 33 881 33 436 30 063 28 200 32 552
Norges Bank 5 860 7 849 7 586 8 015 7 292
State lending
 institutions 1 170 1 568 275 282 291
Commercial and savings
 banks(1) 56 719 54 433 55 152 57 450 58 399
Insurance companies etc. 157 733 158 109 156 451 154 775 158 297
Finance institutions and
 mortgage companies 13 608 14 597 14 942 14 487 15 162
Local government and
 municipal enterprises 8 200 8 255 10 420 10 030 10 096
State enterprises 2 521 2 642 2 777 2 729 2 709
Mutual funds 19 017 18 713 17 139 17 479 19 226
Other corporations 26 458 26 044 24 935 25 685 25 987
Households 8 140 10 003 11 513 12 786 10 144
Rest of the world 46 798 46 985 51 795 59 871 43 848
Unspecified sector 463 693 714 853 721

Total 380 570 383 326 383 762 392 660 384 724

(1) The banks' guarantee funds are included.

Sources: Norwegian Central Securities Depository and Norges Bank
Table 16. Stocks of NOK-denominated bonds registered with the
Norwegian Central Securities Depository by issuing sectors.
Nominal value. In millions of NOK

 30/9 31/12 31/3 30/6 30/9
 1999 1999 2000 2000 2000

Central government
 administration and
 social security sector 127 933 130 495 134 072 139 635 141 511
State lending
 institutions 27 245 29 584 379 358 347
Commercial and savings
 banks 92 214 91 976 93 063 88 388 95 576
Mortgage companies 42 011 42 684 69 960 69 337 67 327
Other financial
 enterprises 1 567 1 426 1 371 1 371 1 302
Local government incl.
 municipal enterprises 44 325 42 001 41 888 41 149 41 189
State enterprises 14 323 15 478 15 208 15 911 17 607
Other corporations 21 610 23 254 23 567 24 211 25 337
Households 199 30 30 30 30
Rest of the world 4 854 4 898 4 993 6 355 7 122
Unspecified sector 0 0 90 0 0

Total 376 280 381 826 384 622 386 747 397 349

Sources: Norwegian Central Securities Depository and Norges Bank
Table 17. Net purchases and net sales (-) in the primary and
secondary markets of NOK-denominated bonds registered with the
Norwegian Central Securities Depository by purchasing,
selling and issuing sectors(1). Estimated market value.
In millions of NOK

Q1-Q3 2000

 Purchasing/selling sector

 Norges Bank Com. and
 Cent. gov't and state savings Insurance
 and social lending banks(2) companies
Issuing sector security institutions

Cent. gov. and
 soc. sec. adm. -2224 351 967 1 524
State lending
 institutions 0 -18 -25 0
Comm. and savings
 banks -2 105 0 2 210 -2 437
Private mortgage
 companies 370 0 -1 915 -959
Other financial
 corporations 0 0 -12 66
Local government
 and municipal
 enterprises -309 0 1 093 -1 561
State enterprises -72 0 -53 907
Other corporations -69 0 2 385 81
Households 0 0 12 -12
Rest of the world 0 0 -15 2 267
Unspecified sector 0 0 0 -3

Total -4 410 332 4 645 -127

 Purchasing/selling sector

 Local
 Other governm. Other
 financial and municip. corpo- House-
 corporations enterpr. rations(3) holds
Issuing sector

Cent. gov. and
 soc. sec. adm. -483 892 1 919 -277
State lending
 institutions 0 0 0 0
Comm. and savings
 banks 1 280 379 409 3 182
Private mortgage
 companies -2 224 28 -44 15
Other financial
 corporations -5 -10 -113 -1
Local government
 and municipal
 enterprises 38 331 338 44
State enterprises 6 163 125 -11
Other corporations 122 205 205 331
Households 0 0 0 0
Rest of the world 15 5 -13 0
Unspecified sector 0 0 -2 0

Total -1 252 1 992 -1 013 3 282

 Purchasing/selling sector

 Rest of
 the Unspeci-
 world fied Total(4)
Issuing sector

Cent. gov. and
 soc. sec. adm. 12 200 -20 11 008
State lending
 institutions 0 0 -43
Comm. and savings
 banks 335 368 3 622
Private mortgage
 companies -160 4 -4 886
Other financial
 corporations -53 4 -124
Local government
 and municipal
 enterprises 46 19 39
State enterprises 66 -1 1 130
Other corporations 1 446 14 4 719
Households 0 0 0
Rest of the world 30 1 2 292
Unspecified sector 0 0 -5

Total 13 911 389 17 750

(1) Issues at issue price + purchases at market value - sales at
market value - redemption value.

(2) The banks' guarantee funds are included in this sector.

(3) Including mutual funds and state enterprises.

(4) Total shows net issues in the primary market. Purchases and sales
in the secondary market result in redistribution between owner
sectors, but add up to 0.

Sources: Norwegian Central Securities Depository and Norges Bank
Table 18. Stocks of NOK-denominated short-term securities registered
with the Norwegian Central Securities Depository by holding sectors.
Market value. In millions of NOK

 30/9 31/12 31/3 30/6 30/9
 1999 1999 2000 2000 2000

Central government and
 social security admin. 5 237 5 393 7 034 8 456 7 307
Norges Bank 2 616 1 532 2 995 2 246 2 626
State lending
 institutions 299 1 545 0 0 0
Commercial and savings
 banks(1) 32 225 41 573 29 994 28 007 19 059
Insurance companies, etc. 25 348 26 862 20 467 18 441 21 868
Finance institutions and
 mortgage companies 4 909 1 385 4 781 2 397 2 433
Local government and
 municipal enterprises 1 684 1 913 2 362 1 899 3 167
State enterprises 3 834 3 924 11 939 4 027 12 411
Mutual funds 14 240 13 764 14 104 17 575 20 616
Other corporations 13 015 11 876 8 431 11 312 9 631
Households 582 777 669 779 901
Rest of the world 5 800 3 812 6 806 5 876 3 648
Unspecified sector 678 592 760 635 641

Total 110 468 114 948 110 341 101 651 104 308

(1) The banks' guarantee funds are included in this sector.

Sources: Norwegian Central Securities Depository and Norges Bank
Table 19 Stocks of short-term securities by issuing sectors(1)
Nominal value. In millions of NOK

 31/3 30/6 30/9 31/12
 2000 2000 2000 2000

Central government and
 social security sector 31 000 27 045 24 000 31 000
Counties 1 402 1 307 699 603
Municipalities 6 485 4 267 3 752 5 074
State lending
 institutions 0 0 0 0
Commercial banks 15 726 14 407 15 334 10 364
Savings banks 30 685 31 360 32 670 36 812
Mortgage companies 9 481 5 542 5 086 4 704
Finance companies 662 501 187 557
Other financial
 corporations 0 0 0 0
State-owned enterprises 1 800 1 850 5 095 1 965
Municipal enterprises 5 683 5 797 7 085 8 243
Private enterprises 6 909 9 042 8 355 9 124
Rest of the world 400 500 650 1 000

Total 110 233 101 618 102 912 109 446

(1) Comprises stocks of short-term securities in NOK issued in
Norway by domestic sectors and foreigners and stocks of short-term
securities in foreign currency issued in Norway by domestic sectors.

Source: Norges Bank


Credit and liquidity trends
Table 20. Inter-company loans. Amounts outstanding, In billions of
NOK

 30/9 31/12 31/3 30/6 30/9
 1999 1999 2000 2000 2000

Guaranteed by:
Private finance companies 0.1 0.1 0.1 0.1 0.1
Non-life/credit insurance companies 0.1 0.1 0.1 0.1 0.1
Commercial banks 1.4 1.4 1.4 1.4 1.4
Savings banks 1.4 1.4 1.4 1.4 1.4

Loans with guarantee 3.0 3.0 3.0 3.0 3.0

Loans without guarantee arranged by:
 Broker 0.1 0.1 0.1 0.1 0.1
 Bank 0.0 0.0 0.0 0.0 0.0

Total inter-company loans 3.2 3.1 3.1 3.1 3.1

Source: Norges Bank
Table 21. Credit indicator and money supply

 Volume figures at
 end of period
 NOKbn

 C2 C3(1) M22)

1992
December 886.7 1 069.5 479.5
1993
December 875.5 1 074.1 475.7
1994
December 891.6 1 075.8 500.4
1995
December 934.5 1 123.6 529.1
1996
December 993.6 1 215.4 563.4
1997
December 1 101.0 1 362.9 577.7
1998
December 1 195.3 1 540.0 604.6
1999
April 1 219.5 1 592.3 623.4
May 1 233.2 1 607.7 623.4
June 1 240.5 1 615.7 636.3
July 1 248.6 1 625.5 647.2
August 1 255.6 1 633.1 648.2
September 1 265.0 1 639.9 643.4
October 1 278.5 1 664.7 661.8
November 1 287.1 1 667.6 659.7
December 1 297.7 1 664.9 670.8
2000
January 1 309.5 1 681.5 671.6
February 1 321.8 1 686.3 677.6
March 1 334.9 1 712.2 684.6
April 1 353.2 1 748.3 691.3
May 1 366.0 1 755.4 697.2
June 1 375.9 1 763.3 704.6
July 1 394.9 1 791.9 708.7
August 1 410.4 1 838.4 713.5
September 1 428.5 1 865.0 725.6
October 1 437.6 1 887.7 718.6
November 1 459.9 1 898.1 729.3
December 1 464.9 1 882.8 731.4
2001
January 1 482.8 ... 746.1

 Percentage growth

 over past 3 months
 over past 12 months annualised rate

 C2 C3(1) M2(2) C2 M2(2)

1992
December -3.3 -1.7 ... -2.2 ...
1993
December -1.8 -1.7 -0.9 0.0 2.1
1994
December 2.3 1.3 5.1 2.8 2.6
1995
December 4.9 5.2 5.7 5.4 2.3
1996
December 6.2 5.4 6.4 7.8 5.4
1997
December 10.2 10.0 2.5 10.1 4.0
1998
December 8.3 12.1 4.6 6.7 6.6
1999
April 7.0 10.8 4.5 6.4 7.7
May 7.4 10.5 2.9 7.1 5.9
June 7.3 10.1 6.3 8.3 10.6
July 7.1 9.9 7.8 8.6 14.5
August 6.9 9.6 8.1 8.5 12.5
September 8.0 100.0 7.2 8.5 10.1
October 8.2 10.3 10.0 9.2 7.1
November 8.3 9.1 9.1 9.9 11.5
December 8.3 7.3 10.5 10.0 10.3
2000
January 8.9 7.1 8.0 10.6 11.7
February 8.9 6.7 9.5 11.2 8.6
March 9.6 7.2 10.0 11.7 10.7
April 10.4 7.4 10.8 11.8 10.9
May 10.2 7.0 11.8 11.9 12.2
June 10.5 7.6 10.9 12.3 11.6
July 11.1 8.1 9.6 12.8 10.8
August 11.6 10.2 10.2 13.5 10.9
September 12.1 11.1 12.7 13.0 9.3
October 11.6 10.8 8.5 13.2 9.1
November 12.7 11.6 10.7 12.2 6.0
December 12.4 11.5 9.0 12.9 9.4
2001
January 12.4 ... 11.0 ... ...

C2 = Credit indicator. Credit from domestic sources;
seasonally adjusted figures.

C3 = Total credit from domestic and foreign sources; actual figures.

M2 = Money supply; seasonally adjusted figures.

(1) C3 has not been adjusted for revised C2 figures.

(2) With effect from November 2000, new definitions were introduced
for money supply statistics, including the exclusion of
"Unutilised overdrafts and building loans" which was previously
included in M2.

Source: Norges Bank
Table 22. Domestic credit supply to the private sector and
municipalities, by source. In millions of NOK. 12-month growth
as a percentage.

 31/21/1998 31/12/1999

 Amount % Amount %

Private banks 747 061 8.7 819 535 9.5
State lending institutions 180 020 4.4 189 651 5.3
Norges Bank 532 3.9 566 6.4
Mortgage companies 94 964 31.5 93 270 -2.5
Finance companies 45 770 22.8 58 806 28.4
Life insurance companies 28 253 -15.4 25 062 -11.3
Pension funds 4 616 -0.9 4 968 7.6
Non-life insurance companies 3 272 -16.9 1 321 -59.6
Bond debt(1) 75 231 4.0 77 413 2.9
Certificate debt 10 580 -31.5 19 335 82.8
Other sources 4 729 22.7 7 175 51.7

Total domestic credit (C2)(2) 1 195 098 8.3 1 297 102 8.4

 31/12/2000 31/01/2001

 Amount % Amount %

Private banks 938 076 13.9 941 740 13.7
State lending institutions 167 853 3.9 170 474 4.2
Norges Bank 575 1.6 575 2.0
Mortgage companies 143 947 19.5 144 448 13.6
Finance companies 66 813 12.1 70 280 11.8
Life insurance companies 23 470 -6.4 23 470 -5.8
Pension funds 4 780 -3.8 4 780 -8.6
Non-life insurance companies 1 190 -9.9 1 190 -9.8
Bond debt(1) 86 533 11.8 86 831 12.8
Certificate debt 25 009 29.3 28 267 35.2
Other sources 6 038 27.4 6 467 47.4

Total domestic credit (C2)(2) 1 464 284 12.4 1 478 522 12.4

(1) Adjusted for non-resident holdings of Norwegian private and
municipal bonds in Norway.

(2) Corresponds to Norges Bank's credit indicator (C2).

Source: Norges Bank
Table 23. Composition of money supply. In millions of NOK(1)

Actual figures Notes Transaction
at end of and account Other
period coins deposits M1(2) deposits(3)

1992 32 452 157 852 190 304 290 667
1993 35 741 151 128 186 869 288 447
1994 37 945 172 639 210 584 286 228
1995 39 092 178 690 217 782 296 778
1996 40 110 207 682 247 792 294 926
1997 42 262 227 440 269 702 278 889
1998 42 143 237 046 279 789 293 085
1999 43 376 300 559 343 935 296 238
2000
January 39 994 303 746 343 740 301 410
February 38 968 308 932 347 900 305 041
March 38 616 306 214 344 830 306 243
April 38 846 312 976 351 822, 301 731
May 38 777 318 693 357 470 300 798
June 39 996 339 379 379 375 304 060
July 39 366 333 470 372 836 309 999
August 38 836 324 117 362 953 319 674
September 38 635 337 567 376 202 314 826
October 38 130 328 935 367 066 323 812
November 39 008 329 573 368 581 320 135
December 42 524 328 528 371 052 326 705
2001
January 39 404 336 184 375 598 340 721

Actual figures Change
at end of last 12
period CDs M2(4) months total M2

1992 828 481 799 ...
1993 2 260 477 576 -4 223
1994 5 116 501 928 27 952
1995 15 731 530 291 32 054
1996 21 686 564 404 34 113
1997 30 200 578 791 14 387
1998 33 308 605 583 26 792
1999 31 392 671 564 65 981
2000
January 30 735 675 886 52 413
February 30 026 682 968 61 885
March 32 464 683 538 63 072
April 28 594 682 147 67 839
May 29 805 688 073 73 829
June 31 115 714 550 68 738
July 29 539 712 375 61 841
August 31 437 714 065 65 865
September 37 196 728 225 82 270
October 30 370 721 249 56 559
November 29 935 718 652 69 348
December 34 338 732 096 60 532
2001
January 33 948 750 268 74 382

(1) With effect from November 2000, new definitions were introduced
for money supply statistics. The most important change is the
exclusion of "Unutilised overdrafts and building loans" which
was previously included in both M1 and M2. In addition, the
former definitions of M1 and M2 have been reclassified.

(2) The narrow money concept M1 constitutes the money-holding
sector's stock of Norwegian notes and coins plus the sector's
transaction accounts deposits in Norges Bank, commercial
banks and savings banks (in NOK and foreign currency).

(3) Excluding restricted bank deposits (BSU, IPA, withholding
tax accounts, etc).

(4) The broad money concept M2 constitutes the sum of MI and
the money-holding sector's other bank deposits (in NOK and
foreign currency) excluding restricted bank deposits
(BSU, IPA, withholding tax accounts, etc) and CDs.

Source: Norges Bank
Table 24. Household financial balance. Financial investments and
holdings, by financial instrument. In billions of NOK

 Financial investment

 Year

 1997 1998 1999

Bank deposits, etc.(1) 6.5 23.6 33.4
Bonds, etc.(2) 0.2 0.5 2.2
Shares, etc.(3) 18.1 22.3 5.0
Units in securities funds 14.0 -0.2 8.8
Insurance claims 25.2 20.6 20.1
Loans and other assets(4) 6.4 10.0 6.2

Total assets 70.4 76.8 75.7

Loans from commercial and savings banks 54.4 34.2 49.9
 + Postbanken -1.2 6.4 5.7
Loans from state banks and Norges Bank 3.3 9.6 0.4
Loans from private mortgage companies and -13.3 -5.5 -3.9
 finance companies -0.2 8.7 -0.3
Loans from insurance companies
Other liabilities(5) 43.1 53.4 51.8

Total liabilities 27.3 23.4 23.9
Net

 Financial
 investments

 Q1-Q3

 1999 2000

Bank deposits, etc.(1) 28.3 28.4
Bonds, etc.(2) 0.4 3.4
Shares, etc.(3) 4.4 9.5
Units in securities funds 5.2 8.3
Insurance claims 13.4 15.3
Loans and other assets(4) 0.6 -1.5

Total assets 52.3 63.4

Loans from commercial and savings banks 34.4 52.8
 + Postbanken 4.8 5.7
Loans from state banks and Norges Bank -4.6 3.6
Loans from private mortgage companies and -1.3 -1.5
 finance companies -7.4 -10.1
Loans from insurance companies
Other liabilities(5) 25.9 50.5

Total liabilities 26.4 12.9
Net

 Holdings

 Year

 1997 1998 1999

Bank deposits, etc.(1) 350.3 374.1 407.7
Bonds, etc.(2) 8.9 8.4 10.9
Shares, etc.(3) 135.4 144.6 170.9
Units in securities funds 59.9 50.0 77.9
Insurance claims 347.1 369.1 428.5
Loans and other assets(4) 90.3 100.3 106.4

Total assets 991.9 1 046.5 1 202.3

Loans from commercial and savings banks 440.7 475.2 525.3
 + Postbanken 122.3 128.6 134.3
Loans from state banks and Norges Bank 36.9 46.7 47.1
Loans from private mortgage companies and 28.6 23.1 19.2
 finance companies 72.9 81.0 79.9
Loans from insurance companies
Other liabilities(5) 701.4 754.6 805.8

Total liabilities 290.5 291.9 396.5
Net

 Holdings

 30 Sept.

 1999 2000

Bank deposits, etc.(1) 402.5 436.1
Bonds, etc.(2) 8.9 13.8
Shares, etc.(3) 158.7 191.9
Units in securities funds 63.8 98.4
Insurance claims 403.3 451.2
Loans and other assets(4) 100.9 104.9

Total assets 1 138.1 1 296.3

Loans from commercial and savings banks 509.7 577.7
 + Postbanken 133.5 139.8
Loans from state banks and Norges Bank 42.1 50.7
Loans from private mortgage companies and 21.8 17.7
 finance companies 72.9 69.5
Loans from insurance companies
Other liabilities(5) 780.0 855.4

Total liabilities 358.1 440.9
Net

(1) Notes and coins, bank deposits and deposits with finance
companies.

(2) Bearer bonds, savings bonds, premium bonds, notes and
short-term Treasury notes.

(3) VPS-registered (registered with the Norwegian Central Securities
Depository) and non-registered shares.

(4) Loans, accrued interest, holiday pay claims and tax claims.

(5) Other loans, bonds and notes, tax liabilities, and
accrued interest.

Sources: Statistics Norway and Norges Bank
Table 25. Money market liquidity. Liquidity effect from 1 January to
end period. In millions of NOK

 1/1-31/12 1/1-28/2

Supply+/withdrawal- 1999 2000 2000 2001

Central govt. and other
 public accounts
 (excl. paper issued by state
 lending inst. and govt.) 4 870 -50 855 5 869 3 578
Paper issued by state
 lending inst. and govt. -2 702 -11 103 -7 270 -8 126
Purchase of foreign exchange
 for Gov't Petroleum Fund 11 321 53 010 5 580 15 310
Other foreign exchange transactions -88 368 0 30
Holdings of banknotes and
 coins(1) (estimate) -1 800 775 5 140 4 581
Norges Bank's other transactions(1)
 (estimate) ... ... ... ...
Overnight loans -110 245 319 -64
Fixed-rate loans 13 499 -4 425 -25 576 0
Other central bank financing 648 340 -7 795 -29 286

Total reserves 25 638 -11 645 -23 733 -13 977

Of which:
Sight deposits with Norges Bank 25 638 -11 645 -23 733 -13 977
Short-term Treasury notes 0 0 0 0
Other reserves (estimate) 0 0 0 0

(1) The figures are based mainly on Norges Bank's accounts.
Discrepancies may arise between the bank's own statements
and banking statistics due to different accruals.

Source: Norges Bank


Interest rate statistics
Table 26. Nominal interest rates for NOK. Average. Per cent
per annum

 1-month 3-month 12-month

 NIDR NIBOR NIDR NIBOR NIDR NIBOR

2000
February 5.9 5.8 6.1 5.9 6.4 6.3
March 6.0 5.9 6.2 6.0 6.6 6.5
April 6.2 6.1 6.4 6.2 6.8 6.7
May 6.4 6.3 6.7 6.5 7.1 7.0
June 6.7 6.5 6.9 6.7 7.3 7.2
July 6.7 6.6 7.1 6.9 7.6 7.5
August 7.0 6.9 7.3 7.1 7.6 7.5
September 7.3 7.1 7.5 7.3 7.8 7.7
October 7.5 7.4 7.7 7.5 7.9 7.8
November 7.4 7.3 7.6 7.4 7.7 7.5
December 7.6 7.5 7.6 7.4 7.5 7.3
2001
January 7.5 7.4 7.6 7.4 7.4 7.2
February 7.4 7.2 7.5 7.3 7.4 7.2

 Interest rate on Interest rate on
 banks' over- banks' sight
 night loans in deposits with
 Norges Bank Norges Bank

2000
February 7.5 5.5
March 7.5 5.5
April 7.6 5.6
May 7.8 5.8
June 8.1 6.1
July 8.3 6.3
August 8.6 6.6
September 8.8 6.8
October 9.0 7.0
November 9.0 7.0
December 9.0 7.0
2001
January 9.0 7.0
February 9.0 7.0

Note:

NIDR = Norwegian Interbank Deposit Rate, a pure krone interest rate

NIBOR = Norwegian Interbank Offered Rate, constructed on the
basis of currency swaps

Source: Norges Bank
Table 27. Short-term interest rates(1) for key currencies in
the Euro-market. Per cent per annum

 DEM DKK FIM FRF GBP JPY SEK

2000
February ... 3.9 ... ... 6.1 0.1 4.0
March ... 4.1 ... ... 6.2 0.1 4.1
April ... 4.3 ... ... 6.2 0.1 4.1
May ... 4.6 ... ... 6.2 0.1 4.0
June ... 5.1 ... ... 6.1 0.1 4.0
July ... 5.7 ... ... 6.1 0.2 4.1
August ... 5.6 ... ... 6.1 0.3 4.1
September ... 6.0 ... ... 6.1 0.4 4.0
October ... 5.5 ... ... 6.1 0.5 4.0
November ... 5.4 ... ... 6.0 0.6 3.9
December ... 5.3 ... ... 5.9 0.6 4.1
2001
January ... 5.3 ... ... 5.7 0.5 4.1
February ... 5.2 ... ... 5.7 0.4 4.0

 Interest rate
 differential

 USD EURO NOK/EURO NOK/DEM

2000
February 6.1 3.5 2.3 ...
March 6.2 3.7 2.1 ...
April 6.3 3.9 2.2 ...
May 6.7 4.3 2.1 ...
June 6.8 4.5 2.1 ...
July 6.7 4.6 2.2 ...
August 6.7 4.8 2.2 ...
September 6.6 4.8 2.4 ...
October 6.7 5.0 2.4 ...
November 6.7 5.1 2.3 ...
December 6.5 4.9 2.4 ...
2001
January 5.7 4.7 2.6 ...
February 5.3 4.7 2.5 ...

(1) Three-month rates, monthly average of daily quotations.

Sources: OECD and Norges Bank
Table 28. Yields on Norwegian bonds1}. Per cent per annum

 3-year 5-year 10-year

 Govt. Private Govt. Private Govt. Private

2000
February 6.2 6.8 6.2 6.9 6.3 7.1
March 6.3 6.9 6.2 7.0 6.1 7.1
April 6.4 7.1 6.2 7.1 6.1 7.1
May 6.6 7.3 6.4 7.3 6.2 7.3
June 6.6 7.4 6.3 7.3 6.1 7.2
July 6.9 7.5 6.5 7.5 6.2 7.3
August 6.9 7.4 6.5 7.4 6.2 7.2
September 7.1 7.7 6.7 7.7 6.3 7.4
October 7.0 7.7 6.6 7.7 6.4 7.5
November 6.7 7.4 6.4 7.5 6.2 7.3
December 6.4 6.9 6.1 7.0 6.0 7.0
2001
January 6.4 6.9 6.1 6.9 5.9 6.9
February 6.4 7.0 6.2 6.9 6.0 7.0

(1) Whole-year interest rate paid in arrears, monthly average.
As of 1 January 1993 based on interest rate on representative
bonds weighted by residual maturity.

Source: Norges Bank
Table 29. Yields on government bonds1) in key currencies.
Per cent per annum

 DEM DKK FIM FFR GBP JPY SEK USD ECU

2000
February 5.6 5.9 5.8 5.6 5.6 1.8 6.0 6.4 ...
March 5.4 5.7 5.6 5.5 5.3 1.8 5.6 6.3 ...
April 5.3 5.7 5.5 5.3 5.2 1.7 5.5 6.1 ...
May 5.4 5.9 5.6 5.5 5.3 1.7 5.4 6.4 ...
June 5.2 5.8 5.5 5.3 5.2 1.7 5.2 6.2 ...
July 5.3 5.9 5.5 5.4 5.2 1.7 5.4 6.1 ...
August 5.3 5.7 5.5 5.4 5.3 1.8 5.4 5.9 ...
September 5.3 5.7 5.6 5.4 5.3 1.9 5.3 6.0 ...
October 5.3 5.7 5.5 5.4 5.2 1.8 5.3 6.0 ...
November 5.2 5.6 5.5 5.3 5.1 1.8 5.2 5.9 ...
December 5.0 5.3 5.2 5.1 4.9 1.6 5.0 5.6 ...
2001
January 4.9 5.2 5.1 4.9 4.9 1.5 5.0 5.7 ...
February 4.9 5.1 5.1 4.9 4.9 1.4 4.7 5.6 ...

 Interest rate differential

 NOK/ECU(2) NOK/DEM(3)

2000
February ... 0.7
March ... 0.7
April ... 0.8
May ... 0.8
June ... 0.9
July ... 0.9
August ... 0.9
September ... 1.0
October ... 1.1
November ... 1.0
December ... 1.0
2001
January ... 1.1
February ... 1.1

(1) D Government bonds with 10 years to maturity. Monthly
average of daily quotations.

(2) Differential between the yield on Norwegian government
bonds with 10 years to maturity and the rate on ECU-denominated
government bonds with 10 years to maturity.

(3) Differential between yields on Norwegian and German
government bonds with 10 years to maturity.

Source: Norges Bank
Table 30. Commercial and savings banks. Average interest rates
and commissions on utilised loans in NOK to the private and
municipal sector at end of quarter. Per cent per annum

 All loans

 Credit lines Repayment loans

 Overdrafts Total
 and building Housing Other loans
 loans loans loans

Q4 1999
 Commercial banks 9.39 7.07 7.40 7.44
 Savings banks 10.61 7.18 8.00 7.71
 All banks 9.92 7.13 7.68 7.57

Q1 2000
 Commercial banks 9.37 7.02 7.33 7.39
 Savings banks 10.54 7.13 7.94 7.65
 All banks 9.86 7.08 7.61 7.52

Q2 2000
 Commercial banks 9.49 7.21 7.68 7.65
 Savings banks 10.94 7.49 8.30 8.00
 All banks 10.08 7.36 7.96 7.83

Q3 2000
 Commercial banks 10.08 7.95 8.32 8.34
 Savings banks 11.30 8.22 8.99 8.70
 All banks 10.58 8.10 8.62 8.52

Q4 2000
 Commercial banks 10.71 8.36 8.57 8.72
 Savings banks 11.77 8.60 9.30 9.06
 All banks 11.16 8.50 8.90 8.89

 Loans, excl. non-accrual loans(1)

 Credit lines Repayment loans

 Overdrafts
 and building Housing Other Total
 loans loan loans loans

Q4 1999
 Commercial banks 9.46 7.09 7.50 7.48
 Savings banks 10.73 7.19 8.04 7.73
 All banks 10.01 7.14 7.75 7.61

Q1 2000
 Commercial banks 9.45 7.03 7.41 7.43
 Savings banks 10.66 7.14 7.97 7.67
 All banks 9.96 7.09 7.67 7.55

Q2 2000
 Commercial banks 9.59 7.22 7.74 7.68
 Savings banks 11.06 7.49 8.33 8.02
 All banks 10.20 7.37 8.01 7.85

Q3 2000
 Commercial banks 10.18 7.96 8.37 8.38
 Savings banks 11.44 8.22 9.03 8.72
 All banks 10.70 8.10 8.67 8.55

Q4 2000
 Commercial banks 10.80 8.37 8.64 8.75
 Savings banks 11.96 8.61 9.37 9.09
 All banks 11.28 8.51 8.97 8.93

(1) Non-accrual loans in which interest accruals, commissions and
charges have been suspended.

Source: Norges Bank
Table 31. Commercial and savings banks. Average interest rates on
deposits in NOK from the private and municipal sector at end of
quarter. Per cent per annum

 Ordinary Special Total Sight Time
 terms terms deposits deposits deposits

Q4 1999
 Commercial banks 4.18 5.54 4.47 4.14 5.46
 Savings banks 4.06 5.50 4.39 3.95 5.34
 All banks 4.12 5.52 4.43 4.05 5.38

Q1 2000
 Commercial banks 4.21 5.41 4.48 4.16 5.36
 Savings banks 4.06 5.47 4.37 3.94 5.30
 All banks 4.14 5.45 4.43 4.06 5.32

Q2 2000
 Commercial banks 4.38 5.88 4.66 4.34 5.77
 Savings banks 4.24 5.84 4.59 4.13 5.63
 All banks 4.32 5.85 4.62 4.24 5.67

Q3 2000
 Commercial banks 5.14 6.66 5.46 5.09 6.54
 Savings banks 4.96 6.53 5.32 4.85 6.30
 All banks 5.05 6.57 5.39 4.98 6.38

Q4 2000
 Commercial banks 5.58 6.91 5.83 5.53 6.84
 Savings banks 5.45 6.91 5.78 5.34 6.67
 All banks 5.52 6.91 5.81 5.44 6.73
Table 32. Life insurance companies. Average interest rates by type
of loan at end of quarter. Per cent per annum

 Housing Other Total
 loans loans loans

Q4 1999 6.9 6.3 6.6

Q1 2000 6.9 6.3 6.6
Q2 " 7.0 6.5 6.8
Q3 " 8.0 6.8 7.4
Q4 " 8.1 7.0 7.6

Source: Norges Bank
Table 33. Mortgage companies. Average interest rates, incl.
commissions on loans to private sector at end
of quarter. Per cent per annum

 Housing Loans to Total
 loans private loans
 enterprises

Q4 1999 6.8 7.0 6.8

Q1 2000 6.8 6.9 6.5
Q2 " 7.0 7.2 6.7
Q3 " 7.4 7.6 7.1
Q4 " 7.5 7.7 7.2

Source: Norges Bank


Profit/loss and capital adequacy data
Table 34. Profit/loss and capital adequacy: commercial banks(1).
Percentage of average total assets

 1998 1999(3) 2000

Interest income 6.5 7.2 7.4
Interest expenses 4.5 5.2 5.5
Net interest income 2.0 2.0 1.8
Total other operating income 1.0 1.2 1.2
Other operating expenses 2.2 2.0 1.9
Operating profit before losses 0.8 1.2 1.1
Recorded losses on loans and guarantees 0.1 0.0 0.1
Ordinary operating profit before taxes 0.7 1.2 1.0

Capital adequacy ratio(2) 10.9 10.9 11.0
Of which:
Core capital 8.0 8.0 7.8

(1) Parent banks (excluding branches abroad) including Postbanken
and foreign-owned branches. Excluding Gjensidige Bank from
1 January 1999.

(2) As a percentage of the basis of measurement for capital adequacy.

(3) New accounting rules from 1 January 1999.

Source: Norges Bank
Table 35. Profit/loss and capital adequacy: savings banks(1).
Percentage of average total assets

 1998 1999(3) 2000

Interest income 6.9 7.7 7.5
Interest expenses 4.0 4.8 4.9
Net interest income 2.9 2.9 2.7
Total other operating income 0.7 1.0 0.7
Other operating expenses 2.2 2.1 2.0
Operating profit before losses 1.4 1.7 1.4
Recorded losses on loans and guarantees 0.2 0.2 0.2
Ordinary operating profit before taxes 1.2 1.6 1.7

Capital adequacy ratio(2) 14.3 13.6 13.9
Of which:
Core capital 11.7 11.2 10.7

(1) Including Gjensidige Bank from 1 January 1999.

(2) As a percentage of the basis of measurement for capital adequacy.

(3) New accounting rules from 1 January 1999.

Source: Norges Bank
Table 36. Profit/loss and capital adequacy: finance companies(1).
Percentage of average total assets

 1998 1999(3) 2000

Net interest income 4.9 5.4 5.0
Total other operating income 2.7 2.6 2.3
Other operating expenses 4.7 5.0 4.7
Operating profit before losses 2.9 2.9 2.5
Recorded losses on loans and guarantees 0.4 0.6 0.5
Ordinary operating profit before taxes 2.6 2.4 2.1

Capital adequacy ratio(2) 13.7 12.1 12.4
Of which:
 Core capital 12.3 11.0 11.0

(1) Norwegian parent and foreign-owned branches.

(2) As a percentage of the basis of measurement for capital adequacy.

(3) New accounting rules from 1 January 1999.

Source: Norges Bank
Table 37. Profit/loss and capital adequacy: mortgage companies(1).
Percentage of average total assets

 1998 1999(3) 2000(4)

Interest income 6.4 6.3 6.9
Interest expenses 5.7 5.5 6.2
Net interest income 0.7 0.8 0.7
Total other operating income 0.0 0.1 0.0
Other operating expenses 0.2 0.2 0.2
Operating profit before losses 0.5 0.7 0.6
Recorded losses on loans and guarantees 0.0 0.0 0.0
Ordinary operating income before taxes 0.5 0.8 0.6

Capital adequacy(2) 16.0 16.4 16.4
Of which:
 Core capital 12.8 13.4 13.0

(1) All Norwegian parent companies.

(2) As a percentage of the basis of measurement for capital adequacy.

(3) New accounting rules from 1 January 1999.

(4) Kommunalbanken reports as a mortgage company with effect from
the first quarter of 2000.

Source: Norges Bank


Exchange rates
Table 38. The international value of the krone and exchange rates
against selected currencies.

Monthly average of representative market rates

 Trade-
 weighted 1 100 100 100
 krone EURO DEM DKK FIM
 exchange
 rate(1)

2000
February 106.25 8.0991 414.10 108.78 136.22
March 107.32 8.1110 414.71 108.91 136.42
April 108.80 8.1538 416.90 109.44 137.14
May 109.96 8.2015 419.34 109.99 137.94
June 109.04 8.2426 421.43 110.49 138.63
July 108.19 8.1763 418.05 109.62 137.51
August 108.15 8.0959 413.94 108.56 136.16
September 107.80 8.0266 410.40 107.56 135.00
October 107.81 8.0032 409.20 107.47 134.60
November 107.10 7.9950 408.78 107.22 134.47
December 107.55 8.1334 415.86 109.06 136.79
2001
January 106.81 8.2355 421.08 110.33 138.51
February 106.75 8.2125 419.90 110.04 138.12

 100 1 100 100 1
 FRF GBP JPY SEK USD

2000
February 123.47 13.177 7.5258 95.16 8.2361
March 123.65 13.284 7.9077 96.70 8.4111
April 124.30 13.630 8.1538 98.62 8.6018
May 125.03 13.638 8.3616 99.49 9.0471
June 125.66 13.095 8.1912 99.12 8.6788
July 124.65 13.124 8.0651 97.26 8.7024
August 123.42 13.336 8.2837 96.48 8.9556
September 122.37 13.208 8.6235 95.39 9.2056
October 122.01 13.582 8.6321 93.88 9.3613
November 121.88 13.317 8.5737 92.66 9.3369
December 123.99 13.260 8.0894 93.90 9.0662
2001
January 125.55 12.974 7.5176 92.48 8.7784
February 125.20 12.956 7.6708 91.49 8.9117

(1) The nominal effective krone exchange rate is calculated on the
basis of the NOK exchange rate against the currencies of Norway's
25 main trading partners, calculated as a chained index and
trade-weighted using the OECD's weights. The weights, which are
updated annually, are calculated on the basis of each country's
competitive position in relation to Norwegian manufacturing. The
index is set at 100 in 1990. A rising index value denotes a
depreciating krone. Further information can be found on
Norges Bank's website (www.norges-bank.no).
Table 39. International parities. Monthly average of representative
exchange rates

 DEM/USD DEM/GBP FRF/DEM JPY/DEM JPY/USD

2000
February 1.9890 3.1822 3.354 55.036 109.45
March 2.0282 3.2032 3.354 52.454 106.38
April 2.0648 3.2694 3.354 51.143 105.57
May 2.1577 3.2529 3.354 50.155 108.21
June 2.0594 3.1073 3.354 51.455 105.96
July 2.0817 3.1394 3.354 51.838 107.90
August 2.1636 3.2219 3.354 49.983 108.12
September 2.2432 3.2185 3.354 47.604 106.76
October 2.2880 3.3195 3.354 47.420 108.45
November 2.2841 3.2578 3.354 47.683 108.91
December 2.1804 3.1888 3.354 51.444 112.10
2001
January 2.0848 3.0811 3.354 56.024 116.78
February 2.1223 3.0856 3.354 54.750 116.18

Source: Norges Bank


Balance of payments
Table 40. Balance of payments. In millions of NOK

 1998 1999 2000

Goods balance 11 326 82 754 221 348
Service balance -6 488 -10 995 1 152
Net interest and transfers -19 123 -24 864 -26 460

A. Current account balance -14 285 46 895 196 040

 Of which:
 Petroleum activities(1) 103 858 158 694 298 082
 Shipping(1) 26 836 24 266 33 643
 Other sectors -144 979 -136 065 -135 685

B. Net capital transfers -830 -1 566 -492

C. Capital outflow excl. Norges Bank(2) -8 356 -22 204 28 835

 Distributed among:
 Central government sector 16 801 -6 307 -19 491
 Local government sector 171 247 60
 Commercial and savings banks -13 521 -18 522 -22 126
 Insurance 11 670 14 626 17 239
 Other financial institutions -2 296 112 -9 840
 Shipping -4 261 -3 294 -6 383
 Petroleum activities -47 083 -2 306 5 320
 Other private and state enterprises -172 -3 875 24 752

 Unallocated (incl. errors and
 omissions) 30 335 -2 885 39 304

D. Norges Bank's net capital outflow
 (A + B - C) -6 759 67 533 166 713

E. Valuation changes in Norges Bank's
 net foreign assets 28 885 9 788 17 152

Change in Norges Bank's net
 foreign assets (D+E) 22 126 77 321 183 865

 Of which:(2)
 International reserves -29 323 51 544 52 274
 Investment of Government Petroleum
 Fund 54 331 54 633 163 849

(1) Specified by Norges Bank on the basis of items from the balance
of payments.

(2) Specifications from Norges Bank's balance sheet.

Sources: Statistics Norway and Norges Bank
Table 41. Norway's foreign assets and debt. In billions of NOK

 31/12/1998 31/12/1999

 Assets Debt Net Assets Debt Net

Central
 government
 admin.(1) 13.4 41.4 -28.0 13.0 48.1 -35.1
Norges Bank(2) 331.4 24.6 306.8 462.6 78.5 384.1
State lending
 institutions 1.1 1.4 -0.3 1.2 0.0 1.2
Commercial and
 savings
 banks(3) 88.9 225.3 -136.4 94.7 252.0 -157.3
Mortgage
companies 26.5 59.7 -33.2 27.1 69.3 -42.3
Finance companies 0.8 13.2 -12.4 5.3 14.3 -9.0
Insurance
 companies 108.8 16.4 92.4 140.9 34.1 106.8
Local government 0.0 0.2 -0.2 0.0 0.0 0.1
Municipal
 enterprises 0.2 4.8 -4.6 0.2 4.9 -4.8
State enterprises 75.5 105.6 -30.1 91.1 113.8 -22.8
Other Norwegian
 sectors 187.4 277.4 -90.0 218.6 329.8 -111.2
Undistributed
 and errors and
 omissions(4) 30.3 0.0 30.3 27.5 0.0 27.5

All sectors 865.4 770.1 95.3 1 082.2 944.9 137.3

 31/12/2000

 Assets Debt Net

Central
 government
 admin.(1) 12.3 67.1 -54.8
Norges Bank(2) 767.6 199.9 567.7
State lending
 institutions 1.4 0.0 1.4
Commercial and
 savings
 banks(3) 131.3 318.9 -187.6
Mortgage
companies 31.1 91.9 -60.8
Finance companies 8.4 16.5 -8.1
Insurance
 companies 160.6 36.9 123.6
Local government 0.1 0.0 0.1
Municipal
 enterprises 0.2 5.7 -5.5
State enterprises 85.5 115.9 -30.4
Other Norwegian
 sectors 334.6 427.8 -93.2
Undistributed
 and errors and
 omissions(4) 66.8 0.0 66.8

All sectors 1 599.9 1 280.5 319.4

Note:

Norges Bank calculates the holdings figures on the basis of
Statistics Norway's annual census of foreign assets and liabilities
and sectoral statistics for financial industries, which are combined
with the figures on changes in the form of transactions and valuation
changes from the balance of payments and sectoral statistics for
insurance and mortgage companies.

(1) Also includes foreign holdings of NOK debt instruments issued
by central government administration.

(2) NorgesBank's equity holdings are estimated at market value and
may deviate from Norges Bank's official balance sheet.
Norges Bank's purchases of derivatives are included in the balance
of payments, but not in the official balance sheet, and may result
in differences.

(3) Including Postbanken.

(4) Consists of net amounts which could not be sectorised at the time
and statistical errors. For the sake of simplicity, the net amount
is recorded under assets.

Sources: Statistics Norway and Norges Bank


International capital markets
Table 42. Changes in banks' international assets. In billions of USD(1)

 Q3

 1997 1998 1999 1999 2000

Total 1 286.2 280.1 263.5 130.1 183.6
 Of which vis-a-vis:
 Non-banks 370.6 134.1 293.2 39.9 78.6
 Banks (and undistributedt) 915.6 146.0 -29.7 90.3 105.0

 Outstanding

 30 Sept. 2000

Total 10 124.8
 Of which vis-a-vis:
 Non-banks 3 376.4
 Banks (and undistributedt) 6 748.4

(1) International assets (external positions) comprise

- cross-border claims in
all currencies

- foreign currency loans to
residents

- equivalent assets,
excluding lending

Source: Bank for International Settlements
Table 43. Banks' international claims by currency. Percentage of
total international assets

 December Q3

 1998 1997 1999 1999 2000

US dollar (USD) 35.1 34.3 39.5 32.7 41.3
Deutsche mark (DEM) 10.6 11.3 ... ... ...
Swiss franc (CHF) 2.6 2.6 2.4 2.6 2.2
Japanese yen (JPY) 10.0 10.1 9.0 8.3 8.7
Pound sterling (GBP) 4.0 4.2 4.2 4.6 4.4
French franc (FRF) 3.3 3.5 ... ... ...
Italian lire (ITL) 3.7 4.6 ... ... ...
ECU/euro(1) 1.0 1.4 27.7 28.9 26.9
Undistributed(2) 29.7 28.0 17.2 22.9 16.5

Total in billions
 of US 9 036.8 9 665.4 9 925.5 9 864.8 10 124.8

(1) From January 1999.

(2) Including other currencies not shown on the table, and
assets in banks in countries other than the home countries of
the seven currencies specified.

Source: Bank for International Settlements
Table 44. Funds raised on international markets, by type of
instrument. In billions of USD

 1993 1994 1995 1996 1997

Issues of bonds 481.0 428.6 467.3 708.8 831.6
- of which floating-rate
 instruments 69.8 96.3 78.9 165.7 213.1
International and foreign
 bank loans 136.7 236.2 370.2 345.2 390.4
Other international
 facilities 8.2 4.9 3.8 4.5 2.7

Total 625.8 669.7 841.3 1 058.5 1 224.7

Source: OECD
Table 45. Funds raised on international markets, by borrowing
country/institution.

Per cent of total borrowing

 1993 1994 1995 1996 1997

OECD countries 86.3 87.7 90.1 88.3 85.8
Non-OECD countries 9.9 10.5 7.8 9.4 11.9
International
 institutions and other
 countries 3.8 1.8 2.1 2.3 2.3

Source: OECD


Foreign currency trading
Table 46. Foreign exchange banks. Foreign exchange purchased/sold
forward with settlement in NOK(1).

In billions of NOK at end of month

 Purchased net from:

 Central Other Non- Foreign Total
 govt.(2) financial financial sector
 inst.(3) sector

2000 January 0.0 42.2 51.0 -21.1 72.1
 February 0.0 -3.3 59.0 -16.7 39.0
 March 0.0 -8.9 48.6 -1.0 38.7
 April 0.0 28.9 50.9 -18.3 61.5
 May 0.0 39.0 53.2 -21.2 71.0
 June 0.0 -2.8 55.8 -12.2 40.8
 July 0.0 27.0 61.0 -17.0 71.0
 August 0.0 31.4 63.3 -6.6 88.1
 September 0.0 26.8 62.5 -5.4 83.9
 October 0.0 28.8 62.4 -30.5 60.7
 November 0.0 30.1 66.2 -2.6 93.7
 December 0.0 23.2 33.1 -11.7 44.6
2001 January 0.0 34.3 69.5 -23.5 80.3

 Purchased gross from Sold gross to

 Non- Foreign Non- Foreign
 financial sector financial sector
 sector sector

2000 January 77.4 248.1 26.4 269.2
 February 84.9 227.7 25.9 244.4
 March 77.9 243.1 29.3 244.1
 April 81.0 244.4 30.1 262.7
 May 82.1 280.1 28.9 301.3
 June 86.4 328.6 30.6 340.8
 July 88.0 297.1 27.0 314.1
 August 92.4 308.8 29.2 315.4
 September 97.5 324.9 35.0 330.3
 October 96.6 339.1 34.2 369.6
 November 102.2 400.7 36.0 403.3
 December 73.0 327.1 39.8 338.9
2001 January 101.7 458.2 32.2 481.6

(1) Excl. exchange rate adjustments.

(2) Central government administration, social security administration
and Norges Bank.

(3) Incl. possible discrepancies between forward assets and forward
liabilities within the category of foreign exchange banks.

Source: Statements from commercial and savings banks (registered
foreign exchange banks) to Norges Bank
Table 47. Foreign exchange banks. Overall foreign currency position.
In millions of NOK

 31/12 31/3 30/6 30/9 31/12
 1999 2000 2000 2000 2000

Foreign assets, spot 156 026 185 766 197 958 205 302 216 694
Foreign liabilities,
 spot 250 420 277 662 296 250 318 965 306 782
1. Spot balance, net -94 394 -91 896 -98 292 -113 663 -90 088
2. Forward balance,
 net 35 781 45 288 43 612 44 226 -1 695
3. Option position
 against NOK 151 ... ... ... ...
4. Overall position
 (1+2+3) -58 462 ... ... ... ...

Source: Norges Bank
Table 48. Transactions relating to Norges Bank's exchange market
operations. In billions of NOK

 1998(2) 1999 Week in 2000

 1-53 1-52 1 2 3

A. Norges Bank's net sales
 of foreign exchange
 to banks -11 -53 -1.11 -1.85 -1.75
 1. Spot -16 -48 -1.11 -1.85 -1.75
 2. Forward 5 -5 0.00 0.00 0.00

Used by banks to cover:
B. Foreign(1) -1 -37 5.33 8.10 -9.32
1. Spot -4 -64 -2.25 18.01 1.64
2. Forward 3 27 7.58 -9.91 -10.96

C. Norwegian sectors,
 non-bank(1) 26 -22 -3.60 -20.08 9.22
 1. Spot 4 20 -13.51 -16.78 10.72
 2. Forward -24 -33 6.44 -0.61 -1.22
 3. Increase in
 customers' net
 currency claims on banks -6 -10 3.47 -2.69 -0.28

D. Other 16 6 -2.72 10.27 -1.54
 1. Banks' income deficit
 in foreign
 exchange, foreign 6 6 0.12 0.12 0.12
 2. Losses on spot
 transactions, foreign 7 6 -3.08 -2.25 2.19
 3. Other losses,
 including adjustments -1 -6 -1.41 11.23 -2.98
 4. Increase in banks'
 total position 4 -1 1.65 1.17 -0.87

Specification:
Non-resident net sale of
NOK-denominated
assets related to:
 Net NOK claims on banks -2 -5 -5.34 18.74 -0.38
 VPS-registrered shares 5 -40 2.58 -0.27 0.49
 VPS-registrered bonds -11 -16 0.34 0.09 1.59
 VPS-registrered notes
 and certificates 3 -3 0.17 -0.55 -0.06
Total (equal to NOK offset
 to B1 above) -4 -64 -2.25 18.01 1.64
Memorandum:
 Increase in banks'
 foreign spot position
 (net) (Corresponds to
 A1-B1-C1-D1-D2) -8 -29 17.61 -0.95 -16.42

 Week in 2000

 4 5 6 7 8

A. Norges Bank's net sales
 of foreign exchange
 to banks -1.60 -1.58 -1.50 -1.75 -1.75
 1. Spot -1.60 -1.58 -1.50 -1.75 -1.75
 2. Forward 0.00 0.00 0.00 0.00 0.00

Used by banks to cover:
B. Foreign(1) 6.19 -16.71 9.20 -4.39 -0.65
1. Spot 2.65 -4.51 5.28 -0.63 -10.88
2. Forward 3.54 -12.20 3.92 -3.76 10.23

C. Norwegian sectors,
 non-bank(1)
 1. Spot -2.97 17.37 -8.64 0.60 -1.00
 2. Forward -1.46 10.01 -10.66 1.63 6.90
 3. Increase in -7.16 5.11 2.90 1.72 -4.35
 customers' net
 currency claims on banks 5.65 2.25 -0.88 -2.75 -3.55

D. Other -4.69 -2.12 -1.96 2.16 0.02
 1. Banks' income deficit
 in foreign
 exchange, foreign 0.12 0.12 0.12 0.12 0.12
 2. Losses on spot
 transactions, foreign 2.12 -1.78 1.05 2.58 1.21
 3. Other losses,
 including adjustments -6.98 0.56 -2.06 -1.59 -1.89
 4. Increase in banks'
 total position 0.05 -1.02 -1.07 1.05 0.58

Specification:
Non-resident net sale of
NOK-denominated
assets related to:
 Net NOK claims on banks 5.19 -5.36 6.02 0.61 -9.52
 VPS-registrered shares 0.04 0.45 0.11 -0.15 -0.65
 VPS-registrered bonds -2.51 0.34 -0.06 -0.66 -0.68
 VPS-registrered notes
 and certificates -0.07 0.06 -0.79 -0.43 -0.03
Total (equal to NOK offset
 to B1 above) 2.65 -4.51 5.28 -0.63 -10.88
Memorandum:
 Increase in banks'
 foreign spot position
 (net) (Corresponds to
 A1-B1-C1-D1-D2) -4.79 -5.42 2.71 -5.45 0.90

 Week in 2000

 9 10 1-10

A. Norges Bank's net sales
 of foreign exchange -1.80 -1.85 -16.54
 to banks
 1. Spot -1.80 -1.85 -16.54
 2. Forward 0.00 0.00 0.00

Used by banks to cover:
B. Foreign(1)
1. Spot -0.98 -5.90 -9.13
2. Forward -0.93 1.16 9.55
 -0.05 -7.06 -18.68
C. Norwegian sectors,
 non-bank(1)
 1. Spot -2.86 7.47 -4.49
 2. Forward -5.50 11.65 -7.01
 3. Increase in -2.82 -5.63 -5.61
 customers' net
 currency claims on banks 5.46 1.45 8.13

D. Other 2.14 -3.29 -1.72
 1. Banks' income deficit
 in foreign
 exchange, foreign 0.12 0.12 1.20
 2. Losses on spot
 transactions, foreign -5.16 -0.32 -3.42
 3. Other losses,
 including adjustments 6.60 -0.77 0.71
 4. Increase in banks'
 total position 0.58 -2.32 -0.21

Specification:
Non-resident net sale of
NOK-denominated
assets related to:
 Net NOK claims on banks -2.13 3.00 10.83
 VPS-registrered shares -0.04 -1.10 1.46
 VPS-registrered bonds 1.10 0.50 0.05
 VPS-registrered notes
 and certificates 0.14 -1.24 -2.79
Total (equal to NOK offset
 to B1 above) -0.93 1.16 9.55
Memorandum:
 Increase in banks'
 foreign spot position
 (net) (Corresponds to
 A1-B1-C1-D1-D2) 9.67 -14.46 -16.86

(1) Positive figures denote foreign exchange sales from banks to
the sectors mentioned. Negative figures denote purchases.

(2) Based on figures from banking statistics.

Source: Norges Bank
COPYRIGHT 2001 Norges Bank
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001 Gale, Cengage Learning. All rights reserved.

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Publication:Economic Bulletin
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Geographic Code:4EXNO
Date:Apr 1, 2001
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