Upgrading and Outsourcing Norges Bank’s Settlement System

Abstract

In recent years, Norges Bank has focused more strongly on its core activities as a central bank, and this has also had a bearing on its activities related to the payment system. In this article, we will review recent years’ efforts to evaluate Norges Bank’s settlement system in light of the central bank’s strategy and primary objectives. We will also provide information about the evaluation of possible models for organising the settlement system and about why Norges Bank has chosen to outsource. We will also comment on the risks inherent in such a solution and describe the implementation process.