Settlement in Norwegian kroner

Contact information

If you have any questions about the settlement in Norwegian kroner, contact us by phone on +47 90 83 28 69 or send an email to interbank@dnb.no

The team for the follow-up of the Internal Bank settlement is staffed every banking day at 08:00–18:00.

Private settlement system in Norway

Settlement

NICS is the banks’ joint settlement system for Norwegian kroner and is used by all banks that participate in the banking industry’s joint infrastructure for payments.

Banks must use NICS for the exchange of transactions that are included in the banking industry’s joint infrastructure, and which influence a bank’s position in Norges Bank settlement system, NBO. There are 21 participants in Norges Bank Settlement (level 1).

Private settlement banks participate directly in NBO level 1

• The participants of both level 1 and 2 are direct participants in NICS and are themselves responsible for transactions they send to NICS
• Level 1 settles on behalf of itself and participant banks (level 2)
• Three private settlement banks in Norway; DNB currently has 78 level 2 banks. SPB 1 SMN has 7, SPB 1 Nord-Norge has 1, Danske Bank 1 and SEB 1.

The private settlement system is supervised and monitored by Norges Bank.

The principle of crediting after settlement

NICS calculates each participant’s net position for each settlement. The net position for a level 2 bank is added to the net position of the level 2 bank’s private settlement bank on level 1. The net position of the private settlement bank, including underlying level 2 banks’ net positions, are sent to Norges Bank for settlement in the level 1 bank’s payable-through account at Norges Bank. Once the settlement is complete in Norges Bank, DNB, as the private settlement bank, will make the settlement with its underlying banks. This is executed by the level 2 banks’ net position being posted in the level 2 banks’ payable-through account (00 account) in the private settlement bank DNB.

• Key principles and important information about risk-mitigating measures
• Transactions are settlement through the NICS settlement system
• Settlements between banks are made in the central bank
• Customers are credited after settlement between banks
• The recipient’s bank must not make a commitment vis-à-vis the recipient until the bank itself has received settlement from the sender bank
• Eliminates settlement risk
• The bank’s net position compared to CAP is updated and presented on an ongoing basis in NICS Online
• CAP and Real Cap (instant payments) are settlement frameworks established by settlement banks for an underlying bank’s accumulated net debit position in NICS Netto through a settlement day
• The difference between CAP and RCAP was introduced in June 2020 after the introduction of instant payments - Straks 2.0