In addition, the bank is also lowering the interest rate on sight deposit account
balances that exceed a given exemption threshold by 0.
All banks established in Norway can have a sight deposit account with Norges Bank.
In this case, a bank makes a deposit at a fixed rate for a given period, and the balance on its sight deposit account is reduced by a corresponding amount during that period.
In an (unsuccessful) attempt to mitigate the likely surge in the franc arising from this move, the central bank lowered the rate on sight deposit accounts