Federal Reserve | Communication to Norway

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OFFICE OF THE VICE CHAIR​

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TO: Kristin Halvorsen, Minister of Finance of the Kingdom of Norway ( Vaka )​

FROM: Avery Black, Vice Chair of The Board of Governors of The Federal Reserve System

Minister Halvorsen,

The Board of Governors is currently conducting an evaluation of governments around the world that could be potential borrowers. Part of our evaluation of governments includes those governments being democratic and not hostile to the United States - the government of Norway tics both of those boxes, and more. We have observed the current degraded financial situation that your country is in, however we see substantial potential for growth in your country's economy. To be clear, the Federal Reserve System is the central bank of the United States, but is entirely separate and autonomous from the Federal Government of the United States.

At this time, we are prepared to offer an individual loan of several billion dollars to your government. Please let me know if your government is interested so that we can send more detailed options to move forward.​

Best regards,

Avery Black
Vice Chair of The Federal Reserve System
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To: Avery Black, Vice Chair of The Board of Governors of The Federal Reserve System, United States of America Odinson
Cc:
Subject:
From: Kristin Halvorsen, Minister of Finance.

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Good Morning Vice Chair Avery Black, I would like to thank you for reaching out to our office. As it would happen our government is currently seeking lenders in an effort to help alleviate the more immediate effect modernizing our nation's armed forces is having on our financial reserves. We are currently expecting large profits from our Oil and gas industry once production begins in the near future. But in the meantime, we would be open to discussing the financial options your organization would have on offer to our government. Please forward all of the details to my office for evaluation. As my office reports directly to Parliament, they will be made aware of all conversations and information shared here and will ultimately have the final say in any transactions made. Regards, Kristin Halvorsen, Minister of Finance Kingdom of Norway

 

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OFFICE OF THE VICE CHAIR​

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SECURE​

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TO: Kristin Halvorsen, Minister of Finance of the Kingdom of Norway ( Vaka )​

FROM: Avery Black, Vice Chair of The Board of Governors of The Federal Reserve System

Minister Halvorsen,

The Federal Reserve System is prepared to offer the Kingdom of Norway a line of credit up to $5,000,000,000. Below are the options for repayment. The Board of Governors is very excited to be in business with the Kingdom of Norway. If you have any questions, please feel free to ask.

Credit - $1,000,000,000
Repayment Per Month Over [3 IRL] Months - $393,333,334
Repayment Per Month Over [4 IRL] Months - $297,500,000
Repayment Per Month Over [5 IRL] Months - $241,000,000
Repayment Per Month Over [6 IRL] Months - $204,166,667

Credit: $2,000,000,000
Repayment Per Month Over [3 IRL] Months - $786,666,667
Repayment Per Month Over [4 IRL] Months - $595,000,000
Repayment Per Month Over [5 IRL] Months - $482,000,000
Repayment Per Month Over [6 IRL] Months - $408,333,334

Credit: $3,000,000,000
Repayment Per Month Over [3 IRL] Months - $1,180,000,000
Repayment Per Month Over [4 IRL] Months - $892,500,000
Repayment Per Month Over [5 IRL] Months - $723,000,000
Repayment Per Month Over [6 IRL] Months - $612,500,000

Credit: $4,000,000,000
Repayment Per Month Over [3 IRL] Months - $1,573,333,334
Repayment Per Month Over [4 IRL] Months - $1,190,000,000
Repayment Per Month Over [5 IRL] Months - $964,000,000
Repayment Per Month Over [6 IRL] Months - $816,666,667

Credit: $5,000,000,000
Repayment Per Month Over [3 IRL] Months - $1,966,666,667
Repayment Per Month Over [4 IRL] Months - $1,487,500,000
Repayment Per Month Over [5 IRL] Months - $1,205,000,000
Repayment Per Month Over [6 IRL] Months - $1,020,833,334​

Best regards,

Avery Black
Vice Chair of The Federal Reserve System
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[Vaka]

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To: Avery Black, Vice Chair of The Board of Governors of The Federal Reserve System, United States of America Odinson
Cc:
Subject:
From: Kristin Halvorsen, Minister of Finance.

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Good Morning Vice Chair Avery Black, The information passed on by your office has been seen and discussed at length during the current session of Parliament. After much deliberation, a proposal put together here at the Ministry of Finance on a $5,000,000,000 with the repayment plan of [5 IRL] Months - $1,205,000,000 was put forth. After arguments were made, I am happy to announce that the vote narrowly passed and we are ready to begin the paperwork to begin the transaction. We are set to begin repayment of the loan on the first day of the following month after we receive funds. Payments will be made with a receipt tag of NOR-USA-01 through NOR-USA-05. Here at the Norwegian Ministry of Finance, we are excited to be working closely with your office and hope that we can continue doing business well into the future. Regards, Kristin Halvorsen, Minister of Finance Kingdom of Norway

 

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OFFICE OF THE VICE CHAIR​

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SECURE​

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TO: Kristin Halvorsen, Minister of Finance of the Kingdom of Norway ( Vaka )​

FROM: Avery Black, Vice Chair of The Board of Governors of The Federal Reserve System

Minister Halvorsen,

I am pleased to inform you that the Kingdom of Norway has been formally approved for a $5,000,000,000.00 line of credit for [5 IRL] Months, with repayments of $1,205,000,000 per [IRL month]; the due date for each payment is the last day of [each RL month].

The Federal Reserve System will submit the $5-billion to the Norwegian Treasury as soon as possible. If the Norwegian government misses a payment, then that individual payment of $1,205,000,000 will have a 20% penalty of $241,000,000 added to it, and it must be paid on the next payment date. Subsequent delinquencies will also incur a 20% penalty. The Norwegian government may issue payments early (before the payment dates) without any penalty. The [IRL] payment dates are below:

Payment 1: $1,205,000,000.00 on [May 31]
Payment 2: $1,205,000,000.00 on [June 30]
Payment 3: $1,205,000,000.00 on [July 31]
Payment 4: $1,205,000,000.00 on [August 31]
Payment 5: $1,205,000,000.00 on [September 30]

If your government agrees to these terms, please inform me, and we will initiate the wire transfer.​

Best regards,

Avery Black
Vice Chair of The Federal Reserve System
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To: Avery Black, Vice Chair of The Board of Governors of The Federal Reserve System, United States of America Odinson
Cc:
Subject:
From: Kristin Halvorsen, Minister of Finance.

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Good Afternoon Vice Chair Avery Black, We are in full agreement on the terms of the agreement. One final thing we would like to inquire is about to whom the payments should be made. Are they to be made out to the Federal Reserve System or strictly to the United States of America? We want to make sure that each transaction is completely secure and arrives at the proper location. We are pleased to be doing business with your organization and hope that this relationship stays mutually beneficial for years to come. Regards, Kristin Halvorsen, Minister of Finance Kingdom of Norway

 

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OFFICE OF THE VICE CHAIR​

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SECURE​

TO: Kristin Halvorsen, Minister of Finance of the Kingdom of Norway ( Vaka )​

FROM: Avery Black, Vice Chair of The Board of Governors of The Federal Reserve System

Minister Halvorsen,

I have ordered the wire transfer to take place. The Norwegian Treasury should be receiving it some time within the next ten minutes. In regard to your question: the Norwegian government is to make all payments to the Federal Reserve System. The Federal Reserve is the central bank of the United States, but it is not operated by the Federal Government. The U.S. Treasury and the Federal Reserve have separate accounts.

If you or the Norwegian government have any questions or concerns, please do not hesitate to reach out to my office.

Best regards,

Avery Black
Vice Chair of The Federal Reserve System
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OFFICE OF THE VICE CHAIR​

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SECURE​

TO: Kristin Halvorsen, Minister of Finance of the Kingdom of Norway ( Vaka )​

FROM: Avery Black, Vice Chair of The Board of Governors of The Federal Reserve System

Minister Halvorsen,

This is a friendly reminder that the first payment for your loan with the Federal Reserve System is coming due. For your government's convenience I have included the payment plan that we have agreed upon below.

Payment 1: $1,205,000,000.00 on [May 31]
Payment 2: $1,205,000,000.00 on [June 30]
Payment 3: $1,205,000,000.00 on [July 31]
Payment 4: $1,205,000,000.00 on [August 31]
Payment 5: $1,205,000,000.00 on [September 30]

If you have any questions or concerns, please do not hesitate to reach out.


Best regards,

Avery Black
Vice Chair of The Federal Reserve System
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OFFICE OF THE VICE CHAIR​

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SECURE​

TO: Kristin Halvorsen, Minister of Finance of the Kingdom of Norway ( Vaka )​

FROM: Avery Black, Vice Chair of The Board of Governors of The Federal Reserve System

Minister Halvorsen,

This message is to inform you that the Norwegian government is now four days delinquent in making its first payment to the Federal Reserve System. This is extremely concerning. Please respond as soon as possible, or if possible, make a payment in order to ensure that Norway's credit rating does not suffer and that no additional fees are incurred. Below is our original agreement for repayment of the loan that we have issued your government:

Payment 1: $1,205,000,000.00 on [May 31]
Payment 2: $1,205,000,000.00 on [June 30]
Payment 3: $1,205,000,000.00 on [July 31]
Payment 4: $1,205,000,000.00 on [August 31]
Payment 5: $1,205,000,000.00 on [September 30]

Best regards,

Avery Black
Vice Chair of The Federal Reserve System
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