The support included a soft loan and the write-down of a loan. The measures were part of a broader bank rescue package. The Ministry of Finance immediately submitted a report to the Storting (Report No. 24 (1989–90) where the Ministry of Finance wrote”..The write-down of loans from the central bank may […] represent an active use of central government funds that should be deliberated in the Storting in advance”. The Standing Committee on Finance and Economic Affairs endorsed this view and the resolution received final approval only after the Storting had deliberated the matter. This delimitation of Norges Bank’s tasks is important. Norges Bank shall not provide grants or capital to the banks. During the financial crisis in August 2008, the banks’ short-term and medium-term funding seized up. Norges Bank provided short-term loans as is customary and natural for a central bank. At the same time, we took the initiative to put in place the swap arrangement, whereby banks could exchange covered bonds (OMFs) for government securities. This went through the government’s balance sheet and not that of the central  44  See Chart 1 in Karsten Gerdrup (2004): “Norges Bank’ role in the event of liquidity crises in the financial sector.” Economic Bulletin no. 2/2005. 45  For a discussion, see Tore Jørgen Hanisch, Espen Søilen and Gunhild Ecklund (1999):”Norsk økonomisk politikk i det 20. århundret. Verdivalg i en åpne økonomi”. [Norwegian economic policy and politics in the 20th century.
Caleb M Fundanga: The new K10,000 banknote in Zambia Opening remarks by Dr Caleb M Fundanga, Governor of the Bank of Zambia, at the official launch of the new K10,000 banknote, Bank of Zambia, Lusaka, 16 June 2008. *  *  *  • Members of the Press • Official from commercial banks present • Ladies and Gentlemen I wish to welcome you all to the Bank of Zambia. The objective of this Press Briefing is to announce the introduction of the new K10,000 banknote in our economy. The new K10,000 banknote will be put into circulation as early as this week. By showing you the new K10,000 banknote first, we expect that you will, in turn, help us to inform the public about this new banknote. In order for us to help you understand the new K10,000 banknote, we have produced posters and will make a short power point presentation. The posters are showing the main public recognition and security features of the new K10,000 banknote. Let me from the outset inform you that although we are calling it a new K10,000 banknote, most of the features on the banknote are still the same as those on the current K10,000 banknotes. The differences can best be detected by comparing this new K10,000 banknote with the current K10,000 banknotes in circulation.