the main purpose of the banknote project is to have banknotes that are even more secure than previous banknote series. leif veggum, director of norges bank ’ s cashier ’ s department, is soon going to tell us about the security features that make the banknotes almost impossible to counterfeit. however, if these features are to work as intended, it is important that, as users, we should familiarise ourselves with them. if you feel that you need to brush up your knowledge, i would encourage you to visit norge bank ’ s webpage newnotes. no, norge bank ’ s facebook page or order the banknote brochure from norges bank. you will still be able to use the old 50 - krone and 500 - krone banknotes for one year after the launch of the new banknotes, ie until 18 october 2019. so use your old banknotes when you are out shopping or take them to your bank well before the deadline to help make the withdrawal of the old banknotes as smooth and efficient as possible. good luck with the new banknotes! 2 / 2 bis central bankers'speeches

e. nygard, which is stationed here in horten on a daily basis and which is also open to visitors. personally, i am no stranger to the sea. i have spent my summer holidays in hvaler every summer since the mid - 1960s, and i have thoroughly enjoyed sailing through the archipelago, admittedly at low speed. i always have sea charts and a gps chart plotter on board and i am quite sure this is why i have not needed any assistance from the norwegian society for sea rescue so far. however, i greatly respect the society ’ s work and what it means for the many people who sail along our magnificent coast. the fact that you exist makes our lives safer, both for those of us who are at sea and for those who wait on land for our return. bad weather and dark conditions can sometimes make it challenging to navigate at sea, even with good equipment. from my part of hvaler, i have a good view of several lighthouses. even though navigation systems are becoming increasingly automated, many of the lighthouses in norway serve an important function, both as a landmark and as a symbol of a coastal culture that a great many norwegians hold dear. norges bank has chosen one of these lighthouses as the primary motif on the 50 - krone banknote. utvær lighthouse is located west of the mouth of sognefjord, at what is considered to be norway ’ s westernmost point. it was built in 1900, towers 45 metres high, and the beacon, whose light you can perhaps make out on the reverse side of the 50 - krone note, has a range of 1 / 2 bis central bankers'speeches 19 nautical miles. utvær lighthouse is considered to be one of the main lighthouses in western norway and was manned until as recently as 2004. it is now fully automated, but the lighthouse and its keeper ’ s quarters have become a popular destination to visit. the norwegian coastal administration ( nca ) has primary responsibility for maritime infrastructure in norway, ranging from lighthouses, seamarks and fairways, to pilot services and fishing ports. the nca also has a very important role in the prevention of pollution and emergency response in the event of spillages. the nca head office ’ s department for emergency response is located here in horten. we at norges bank are very proud of the new banknote series – primarily because they are the most secure banknotes we have ever