Improvements to current banknotes
At the meeting on 31 August the Executive Board decided that the 100 kronor and 500 kronor notes in the series of Swedish banknotes are to be replaced with upgraded notes in order to achieve an improved standard of security.
At today’s meeting the General Council consequently decided the design of the notes on the basis of a proposal drafted by Tumba Bruk and the Riksbank.
‘The decision means that both the general public and professional cash handlers will be in a better position to determine whether or not a banknote is genuine,’ says Per-Olof Arevik from the Cashiers Division and adds: ‘It should be underscored that it is not a question of producing a new series of banknotes but of improving the existing notes so that they have a modern standard of security. The notes will retain the main motif and be of the same size as at present.’
The decisions by the Executive Board and the General Council were preceded by broad consultations and the collection of opinions from representatives of banks, the post office, commerce and manufacturers/suppliers of dispensing machines.
The work on an operational plan is to be undertaken with the aim of having the new notes ready for introduction in September/October 2001.
A broad information campaign will be conducted in connection with the introduction of the upgraded notes. Moreover, an ongoing dialogue will be maintained with representatives of banks, the post office, commerce and manufacturers/suppliers of dispensing machines.
The decision is to be seen in the light of a number of circumstances:
- The standard of security has not been altered since the notes were designed in the early 1980s.
- Automatic handling of cash has increased markedly.
- There have been considerable developments in facilities for producing forged notes and this has led to a notable increase in such notes.
- There may be a risk of Swedish notes being exposed to attacks of forgery in connection with the euro’s introduction in the euro area.
All this means that the time has come to review the level of security in Swedish banknotes.
On account of the rising number of forgeries, during spring 2000 the Riksbank carried out an information campaign, aimed in the first place at commerce, which described in more detail the security features that the current Swedish banknotes have and how they can be recognised. More information is available on the Riksbank’s website: www.riksbank.se.
For additional information, please contact the Cashiers Division:
Per-Olof Arevik, tel. +46 8 787 04 84, and
Anders Ekström, tel. +46 8 787 04 82.