The Norwegian Covered Bonds market

Norwegian covered bonds are attractive to investors looking for high-quality instruments with low credit and market risk.

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Strong economy

The high quality of Norwegian covered bonds is supported by the Kingdom of Norway’s very strong macroeconomic position.

  • Large revenues from production of crude oil and gas
  • One of Europe’s lowest unemployment rates

Covered Bond legislation

The Norwegian covered bond legislation is a modern and up to date legislation that provides investors strong protection from the cover pool.

  • Only specialised credit institutions can raise loans by issuing covered bonds
  • Supervised by The Financial Supervisory Authority of Norway
  • Norwegian covered bonds are compliant with the Capital Requirement Directive and are eligible as collateral in ECB

Covered Bonds outstanding

  • 25 issuers of covered bonds in the Norwegian market
  • The largest issuers present in the international capital markets 
  • Around EUR 110 bn. Norwegian covered bonds outstanding

Read more about Norwegian covered bonds in our report or see the Norwegian chapter in ECBC's European Covered Bond Fact Book.

Contacts at Finance Norway

Per Erik Stokstad              
Chief Analyst
+47 23 28 43 33
+47 917 04 821

Michael H. Cook
Analyst
+47 23 28 42 46
+47 976 73 898