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 to obtain the Council on Legislation’s statement on a proposal for a new Sveriges Riksbank Act. In June 2021, the Council on Legislation issued its statement, which has since been taken into account by the Government in the bill submitted to the Riksdag at the beginning of November 2021. The bill also includes the constitutional proposals necessary for the new Sveriges Riksbank Act.

Next step in the work on a new Sveriges Riksbank Act

  1. The Riksdag will table the bill and start the internal preparation process, and then decide on the constitutional amendments in the bill twice, once before the election and once after the election in September 2022.

  2. It is proposed that the act should come 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.

Updated 16/11/2021