Central Banking

Norwegian payments system passed crisis test

Norges Bank's payments system successfully handled the challenges posed by the financial crisis, the central bank said on Thursday.

"The payment system performed very well during the crisis and banks' awareness of costs has probably increased even further. As a result, I think that the system will to continue developing an already well-functioning payment system will be strong ahead," Jan Qvigstad, the central bank's deputy governor, said.

Payment systems worldwide were rocked by the collapse