Norway joins Target instant payments system
Country becomes first non-EU member to settle payments in Tips
Norges Bank and the European Central Bank (ECB) have agreed to allow krone-based payments to be settled through the Eurosystem’s Target Instant Payment Settlement (Tips) system.
The two institutions announced the news today (November 29), five months after Norges Bank’s board gave its governor the go-ahead to finalise discussions with the ECB. The ECB said the krone would be fully integrated into Tips by “the first half of 2028”.
Norges Bank governor Ida Wolden Bache said a well-functioning
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