The Instrument of Government

Chapter 9

Art. 12

The Government bears responsibility for general foreign exchange rate issues. Other decisions on the foreign exchange rate policy are regulated by legislation.

Art. 13

The Riksbank is the central bank of Sweden and is an authority under the Riksdag. The Riksbank is responsible for monetary policy. No authority may determine the decisions made by the Riksbank on issues relating to monetary policy.
 
The Riksbank has an eleven-member General Council elected by the Riksdag. The Riksbank is managed by an Executive Board, which is appointed by the General Council.
 
The Riksdag shall consider whether members of the General Council and the Executive Board are to be granted discharge from liability. A Council member or a member of the Executive Board for whom the Riksdag does not grant discharge from liability is thereby severed from his appointment or his employment. The General Council may sever a member of the Executive Board from his appointment only if he no longer meets the requirements which are made on him to be able to carry out his duties or if he has been guilty of serious misconduct.
 
Provisions on election of the General Council and the Riksbank's executive management and operations are regulated by legislation.

Art. 14

The Riksbank alone shall have the right to issue banknotes and coins. Further provisions concerning monetary and payment system shall be laid down by law.

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