Norges Bank

About Norges Bank

The central bank of Norway, founded in 1816 after Norway separated from Denmark. Norges Bank manages the Norwegian krone and monetary policy. The bank also manages the Norwegian Government Pension Fund Global, commonly called the Oil Fund, the largest sovereign wealth fund in the world at over 1.7 trillion. The funds ethical guidelines prohibit investments in companies involved in nuclear weapons, tobacco, and severe environmental damage. Norges Bank Governor Oeystein Olsen led the bank through the oil price collapse of 2014 to 2016. Norway has benefited from combining prudent fiscal policy with aggressive saving of oil revenues. The Oil Fund holds about 1.5 percent of all listed equities globally.