Preparations for the new Riksbank laws

The Riksbank's Governing Board has decided to set up a working group to prepare for the new Governing Board that will be convened in December in connection with legislation on a more independent status for the Riksbank. The new legislation is expected to come into force as of 1st January 1999.

The members of the working group are the Chairman of the Governing Board, Mr. Kjell-Olof Feldt, the Vice Chairman, Mr. Bengt Westerberg, and two Delegates, Mr. Johan Gernandt and Ms. Berit Löfstedt. The working group will draft the new Governing Board's inaugural decisions, including the selection of members of the Riksbank's new Executive Board.

At its Thursday meeting, the Governing Board called on Governor Urban Bäckström to prepare for the new Executive Board, which will take up office at the turn of the year.

A memorandum has been drawn up as a starting point for the preparatory work. It contains a discussion of how the Riksbank's activities and working procedures should be adapted to the new legislation.
As the new legislation involves amendments to Sweden's Constitution, it has to be approved by the Riksdag (Sweden's parliament) on two occasions, separated by a general election. It has already been approved once, last March, and the final decision is expected later this autumn.

Additional information about the Riksbank's preparations in this respect can be ordered by e-mail (info@riksbank.se), fax (+46 8 787 05 26) or telephone (+46 8 787 01 00). It is also accessible in Swedish at “Fullmäktige” on the Riksbank's website (www.riksbank.se).

For further details please contact:
Björn Hasselgren, tel. +46 8 787 04 72
Åsa Sydén, tel. +46 8 787 06 31