Interest rates in the Norwegian money market
Finance Norway adopted in 2011 rules governing the calculation and publishing of Norwegian money market interest rates - Nibor and Nowa.
Contact: Per Erik Stokstad
+ 47 23 28 43 33
+ 47 917 04 821
Contact: Randi Mørk
+ 47 23 28 43 64
Nibor - the Norwegian Interbank Offered Rate - on five maturities, ranging from one week to six month.NIBOR shall reflect the interest rate level lenders require for unsecured money market lending in NOK, based on interest rates banks charges on lending to leading banks active in the Norwegian money and foreign exchange markets.
The Nibor rules are adopted by Finance Norway and the calculation agent is Oslo Børs.
More information about NIBOR
NOWA - the Norwegian Overnight Weighted Average - which is a weighted average of interest rates on funds lent in the Norwegian interbank market from the current banking day to the next banking day (overnight).
NOWA is comparable with the Norwegian Central Bank’s key policy rate, both when it comes to maturity and the terms of calculation, as a nominal annual rate for the actual number of days in the year ahead.
The Nowa rules are adopted by Finance Norway and the calculation agent is Norges Bank (the Norwegian central bank).
More information about NOWA
Indicative deposit rates
Indicative deposit rates shall give an indication on how the individual banks believe interest rates in the money market is at the moment, and is reported continuously throughout the day.
Indicative deposit rates are not subject to regulations. However, at the fix time the panel banks’ Nibor contributions will be identical to the indicative deposit rates (ask) the panel banks have recently entered into the system of the Nibor calculation agent.
Indicative deposit rates, and an average of these rates calculated by Oslo Børs, are not intended to be used as reference rates in agreements etc.
More information about Indicative Deposit rates