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Payments Report 2021

3. The Riksbank's work and policy

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3. The Riksbank's work and policy

RIX further developed to meet future needs

The Riksbank settles the banks’ and other financial institutions’ payments to one another and the aim is to do this as smoothly and efficiently as possible. It is also important for the Riksbank to offer a central payment system that can meet new needs. As instant payments, such as Swish, will become increasingly important in the future, the Riksbank needs to offer a system that makes this type of payment possible on a large scale. The Riksbank’s ambition is for cross-border payments to be as safe and efficient as domestic payments.

Published: 3 November 2021

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RIX is the Riksbank's payment system, in which credit institutions, clearing organisations, the Riksbank and the Swedish National Debt Office make large-value payments to one another, so-called settlement. Almost all electronic payments in Swedish krona that go from one bank to another pass through RIX. It is therefore essential to the efficiency and safety of the payment system and for financial stability that RIX functions and meets the requirements of the market.