The Riksbank’s banknote and coin operations are centralised to an ultra-modern office north of Stockholm. And the Riksbank’s role continues to change. An inquiry has proposed that the Riksbank should be given an overarching responsibility for monitoring and analysing cash management. 1 The Riksbank is prepared to take on this responsibility as it falls quite naturally within our remit as a central bank. The inquiry has also proposed that cash processing companies, such as Loomis and Nokas, should come under the supervision of the Riksbank. It is important for someone to exercise supervision over these operations and companies. I am doubtful whether the Riksbank is the authority best suited for this task, although that is of course a matter for the Riksdag to decide. Should the Riksbank issue electronic money? But developments have not just been a matter of reorganising the more operational side of cash management. Technical developments, globalisation and innovations on the financial markets also challenge the perception that it is necessary for the central bank to have a monopoly on issuing cash to ensure a safe and efficient payment system. Banknotes and  1  2  See SOU 2014:61. BIS central bankers’ speeches  coins have long since faced competition from other means of payment, especially different types of accounts with their related payment services offered by banks and other financial institutions. Today, payments are made electronically to a large extent; both households and companies, for example, pay invoices and transfer money online or by mobile phone.

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