[marvin]

Adjustable at a month's notice in Norway. You're free to refinance or change banks whenever you want. But if some crisis forces your bank to increase rates quickly (e.g. due to increased costs for the bonds that support their loan portfolio), you can bet every other bank will be forced to increase rates too.

This happened in 2008, and a disaster was averted only because the government bailed out the banks by allowing them to trade their now-bad commercial bonds for government bonds. It turned out to be a good deal for the government, because commercial bond rates came back down quickly. (No guarantee that this would have happened, just luck).