Proposal for a new Sveriges Riksbank Act
A review of the Sveriges Riksbank Act and the role and tasks of the Riksbank is under way with a view to modernising the regulatory framework that governs the Riksbank. In May 2021, the Government decided on how to formulate the proposal for a new Riksbank Act, and in June 2021 the Council on Legislation issued its opinion on the proposal.
Next step in the work on a new Sveriges Riksbank Act
- The Government will compile the Council on Legislation's opinion and the consultation into a government bill that will be submitted to the Riksdag no later than the first week of December 2021. The constitutional proposals that were not included in the submission will be included in the government bill.
- The Riksdag will table the bill and start the internal preparation process and then decide on the bill twice, once before the election and once after the election in September 2022.
- The Act will enter into force on 1 January 2023.
BACKGROUND - PROPOSAL FOR A NEW SVERIGES RIKSBANK ACT
The present Sveriges Riksbank Act was drawn up in the second half of the 1980s. A review of the act was later conducted and provisions on price stability and the independence of the Riksbank were introduced in 1999. In December 2016, the Government decided to instruct a committee, the Riksbank Committee, with members from all parliamentary parties, to review the Sveriges Riksbank Act and the role and tasks of the Riksbank.
Published about the proposal for a Sveriges Riksbank Act
- 31/05/2021 Speeches Ingves: Flexibility is essential for the Riksbank in times of change
- 05/08/2020 News IMF experts present their view on the Riksbank Inquiry’s proposals
- 10/06/2020 Speeches Ingves: Central bank balance sheets increasingly important for monetary policy