0 2 4 6 8 10 12 14
0 2 4 6 8 10 12 14
4.14
2.93
12.60
11.09
CHART 1.1 Unit social costs associated with various payment methods. In NOK
0 20 40 60 80 100 120 140 160
0 20 40 60 80 100 120 140 160
108
67
140
76 61
31
101
71
2013 2007
Hjelpelinje
CHART 1.2 Banks’ cost coverage in 2007 and 2013.
Revenues as a percentage of costs
Source: Norges Bank
Means of payment
Payment instruments
E-money
Cash Payment
cards
Deposit money
Debit and credit transfers
Online payments from bank accounts Cash
Prepaid cards
E-money account payments
CHART 1.3 Means of payment and payment instruments
Source: Norges Bank
Contactless payments at points of sale
Use of various
technologies that facilitate payment using contactless cars and mobile phones at points of sale.
Possible payment instruments:
- Payment cards
- Online payments from bank accounts
- Prepaid cards - E-money account
payments
Instant payments
Infrastructure for transfers between accounts using a mobile phone, where funds are available to the payee immediately.
Payment instrument:
- Online payments from bank accounts
Electronic wallets
Simplified payment for online shopping. Mobile wallet facilitates payment using a mobile phone at points of sale.
Associated payment instruments:
- Payment cards
- Online payments from bank accounts
- Prepaid cards - E-money account
payments
Source: Norges Bank
Chart 1.4 New solutions in the area of payments
CHART 2.1 Interbank and securities settlement systems in Norway1
1 The chart has been simplified for reasons of clarity.
Settlement in Norges Bank (NBO)
NICS
Direct participants:
Banks/private settlement banks VPS
CLS
CCPs
Indirect participants:
Banks
Clearing
CHART 2.2 Average daily turnover in NBO by settlement. In billions of NOK.
2009–20141
2009 2010 2011 2012 2013 2014
0 50 100 150 200 250
NICS SWIFT net
VPS and Oslo Clearing NICS Net
Gross excluding CLS CLS gross
Source: Norges Bank 1 Break in series in 2009.
CHART 2.3 Gross settlements during the day. Daily average. Percentage of total gross settlement value
0 20 40 60 80 100
0 20 40 60 80 100
Percentage per hour 2014 Percentage per hour 2013 Percentage per hour 2009 Percentage per hour 2007 Cumulative 2014
Cumulative 2013 Cumulative 2009 Cumulative 2007 Hjelpelinje
CHART 2.4 Liquidity fraction.1 2014
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 0
0.2 0.4 0.6 0.8 1
0 0.2 0.4 0.6 0.8 1
1 Maximum liquidity needs during a single day for banks in NBO relative to the bank’s available liquidity in NBO. Normal transaction order. Average for banks with direct settlement in NBO.
Source: Norges Bank
CHART 2.5 Disruptions in NICS operations. Number of errors and error points. 1998–20141
199819992000200120022003200420052006200720082009201020112012201320140 50
100 150 200 250 300
0 50 100 150 200 250 300
Number of errors Number of error points
1 Error points indicate error severity level.
CHART 2.6 Value of NOK settled in CLS and value of pay-ins to Norges Bank.
In billions of NOK. 2014
0 100 200 300 400 500 600 700 800 900
0 100 200 300 400 500 600 700 800 900
Settled in CLS
Pay-ins to Norges Bank Hjelpelinje
Source: Norges Bank
CHART 2.7 Trading, clearing and settlement of equities in NOK
Oslo Børs
BATS Chi-X Europe
(London) LSE Turquoise
(London)
SIX x-clear Norwegian
Branch
LCH SIX x-clear EuroCCP
Securities settlement system (VPO) in VPS and Norges Bank Private banks
Nasdaq OMX Stockholm
Exchange
CCP
Participant in VPO
12
CHART 1. CLS settlement process
00:00 07:00 08:00 09:00 10:00 11:00 12:00 00:00 CET
00:00 Deadline for unilateral cancellation of trades. Initial pay-in schedule.
06:30 Deadline for bilateral cancellation of trades. Revised pay-in schedule.
07:00 Settlement starts in
CLS Bank. 09:00 Settlement closes. 12:10 Pay-out deadline for
European and North American currencies.
12:00 Pay-in deadline for European and North-American currencies.
Pay-ins
1 2 3 4 5
Pay-ins
Pay- outs
Pay-outs Pay-ins
Settl.
Source: Norges Bank
