Norway's government and central bank introduced new measures on Sunday to boost the liquidity of banks and their ability to fund themselves.
The plans include an offering of new government bonds of up to 350 billion crowns ($US57.41 billion).
Banks will be able to swap covered bonds, including mortgage-backed securities, into the new government bonds, which can be used as collateral for central bank liquidity.
The announcement came three days before the central bank, Norges Bank, is due to hold an extraordinary interest rate meeting.
It is widely expected to cut interest rates by 25 or 50 basis points, following concerted rate cuts by other central banks last week.
Oslo's bourse dropped 22% last week.
