Norwegian krone added to Eurosystem's TIPS instant payment service - 0 views
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John Kiff on 29 Nov 24The European Central Bank (ECB) and Norges Bank signed an agreement for Norway to join the Eurosystem's TARGET Instant Payment Settlement (TIPS) service. This will make the Norwegian krone the fourth currency available for settlement in TIPS, in addition to the euro, the Swedish krona and the Danish krone, which is scheduled to join in April 2025. The inclusion of the Norwegian krone in TIPS, which is part of the Eurosystem's TARGET Services, is planned for the first half of 2028 and will enable market participants in Norway to settle payments instantly, around the clock and in central bank money.