Start of the new organisation for cash management is postponed

At today's meeting the Executive Board of the Riksbank decided to postpone the start of the new organisation for cash management until 17 February 2003.

It was in April 2002 that the Riksbank decided to concentrate its function in cash management to four strategic delivery points for the distribution and collection of bank notes and coin. The activities are undertaken by Svensk Kontantförsörjning AB (SKAB), a fully-owned subsidiary of the Riksbank.

The planning was carried out with a view to introducing the new cash management as of 1 January 2003. Extensive measures have been taken by the Riksbank and SKAB to prepare for this. There have been monthly consultations with the banks since May this year.

The Swedish Bankers' Association and Securitas Värde AB have requested that the starting date for cash management be postponed. One of the reasons is that the period for preparations is considered to be too short.

The Riksbank understands that the reorganisation of cash management can be complicated in practice for the banks and distributors. It is also an advantage to have a starting date at some other time than the turn of the year in that cash flows are then at a peak.

For further information, please contact the Head of the Secretariat of the Executive Board, Björn Hasselgren, tel. +46-8-787 04 72.