Banking and Markets

Abstract icon Banking and Markets performs tasks within front office, banking as well as risk management and strategy. In addition, it manages central government borrowing and debt.


  • Handles various customer relationships and activities with banks, the central government, central banks, etc.
  • Is responsible for ensuring stable settlement of payments over the day and monitoring the smooth progress of the monetary policy day
  • Undertakes a wide range of tasks within settlement, payments and liquidity management
  • Undertakes control and reconciliation of Danmarks Nationalbank's investment of its foreign exchange and securities portfolios and control of issuance and redemption of government securities

Monetary Policy Operations and Government Debt

  • Monitors developments in the Danish and global foreign exchange markets and implements the exchange rate policy laid down by the Board of Governors by intervening in the foreign exchange market
  • Monitors the Danish money market and implements the monetary and liquidity policies laid down by the Board of Governors by intervening in the foreign exchange market
  • Sells and buys back domestic government securities, raises foreign government loans, concludes interest rate swaps and undertakes operational management of a number of portfolios
  • Manages risk on the government debt portfolio
  • Manages borrowing by government-owned companies
  • Prepares the publication Danish Government Borrowing and Debt and announcements on central government debt

Reserve Management and Collateral

  • Lays down and monitors the investment frameworks for Danmarks Nationalbank's portfolios. These portfolios are the foreign exchange reserve, the holdings of kroner and the gold stock
  • Prepares the framework and lines for management of credit, market and liquidity risk on the portfolios
  • Invests the foreign exchange reserve with a view to achieving the highest possible risk-adjusted return, while observing the limits for, inter alia, liquidity, interest rate and credit risk
  • Prepares policies and frameworks for collateralization



Contact us (Back Office) (Kronos Group)
Telephone: +45 3363 6701 (Lars Mayland Nielsen)

Telephone: +45 3363 6902 (Jesper Mærsk)

Monetary Policy Operations and Government Debt

Reserve Management and Collateral