Deposit insurance Norway


Norway
Deposit insurance in Norway is handled by the Norwegian Banks' Guarantee Fund (Bankenes sikringsfond) and covers deposits up to 2 million NOK
 

 


 

 

 

Explicit deposit insurance 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.
 

Why it exists
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 Because banks rely on customer deposits that can be withdrawn on little or no notice, banks are prone to a Bank run, where depositors seek to withdraw funds quickly ahead of a possible bank insolvency.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 maintain deposit insurance schemes to protect depositors and to give them comfort that their funds are not at risk.



Deposit insurance was formed to protect small unit banks in the United States when branching regulations existed. Banks were restricted by location thus did not reap the benefits coming from economies of scale, namely pooling and netting. To protect local banks in poorer states, the Federal government created deposit insurance.

Many national deposit insurers are members of the International Association of Deposit Insurers (IADI), an international organization established to contribute to the stability of financial systems by promoting international cooperation and to encourage wide international contact among deposit insurers and other interested parties, in particular, IADI.

Detractors of deposit insurance claim the schemes introduce a moral hazard issue, encouraging both depositors and banks to take on excessive risks. Without deposit insurance, banks would compete for deposits because depositors would prefer safe banks over risky banks to guard their money. With deposit insurance, banks can take excessive risks because depositors do not fear for their deposits safety and thus do not move their money to safer banks. The risks are shared by all banks, be they safe or risky

 

 

 

Deposit Insurance worldwide Banks
 

List of SWIFT Codes Worldwide

 

List of correspondent Banks networks worldwide with SWIFT CODE

 

List of Correspondent Banks in Europe

 

Website List of Deposit Insurance worldwide organizations

 

Deposit insurance Overview by country
 

United States

Canada
Mexico

Caribbean and South America
Saint Vincent
Caiman Islands
Argentina
Chile
Brazil
Uruguay


European Union: European Union

Austria
Belgium
Bulgaria
Czech Republic
Denmark
Finland
France
Germany
Greece
Hungary
Ireland
Italy

Luxembourg
Netherlands
Poland
Portugal
Slovakia
Slovenia
Spain
Sweden
United Kingdom

Rest of Europe
Belarus
Iceland
Latvia
Norway
Russia
Switzerland
Turkey
British Isles Offshore

Asia
India
Hong Kong
Malaysia
Thailand

 

 

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