The Riksbank’s task in relation to payments
The Riksbank is entrusted with the task of promoting a safe and efficient payment mechanism. This means that the Riksbank shall contribute to the stability of the financial system and ensure that it is possible to make payments safely and efficiently.
The central bank’s role on the payment market
Payments and the payment system are central parts of Sweden’s infrastructure. They can be compared with the transport network or water and sanitation. Without payments, society cannot function. Consequently, the Riksbank and other central banks around the world have been tasked with promoting safe and efficient payments.
The Riksbank’s role and tasks on the payment market involve providing solutions, with a social perspective as base, in areas where it is difficult to achieve good economic efficiency without central government participation.
To ensure that it is possible to make payments safely and efficiently, the Riksbank:
- issues banknotes and coins
- owns and runs the central payment system (RIX), which banks and other agents can use to make payments
- works to safeguard the stability and efficiency of the payment market - for example, the Riksbank analyses the possibility of modernising the Riksbank’s money and system for rapid payments so that they are better adapted to a digital future
- acts to ensure the stability of the financial system - read more about financial stability
The Riksbank also produces statistics, participates in the drafting of regulations and responds to referrals and consultations. The Riksbank also participates in discussions with market players and in international forums, including the Bank for International Settlements (BIS), the European Central Bank (ECB) and International Monetary Fund (IMF), and acts to ensure that international regulations promote a safe and efficient payment mechanism.