The Riksbank is given new responsibility for civil contingency planning for payments
Published: 15 December 2022
The new Sveriges Riksbank Act gives the Riksbank new responsibility for civil contingency planning for payments, with the aim of enabling the general public to make payments in peacetime crisis situations and in the event of heightened alert.
The new act means that the Riksbank will have a responsibility in relation to companies that are of particular importance for the execution of payments. Through regulations, the Riksbank may define which companies that are included and which joint activities they will participate. The companies will be obliged to have internal planning for how they will be able to continue their operations in peacetime crisis situations and in the event of heightened alert, and to organise training and exercises for their staff. They must also participate in the Riksbank’s planning for peacetime crisis situations and increased readiness, as well as in joint training and exercises. If necessary, the Riksbank will be able to immediately set up a coordination and information-sharing management function in which the companies take part. The Riksbank shall also monitor that the companies meet their obligations.