Riksbank's Regulations (RBFS 2023:2) on Cash Supply

ISSN 0349-8344
Riksbankens författningssamling
RBFS 2023:2
Utkom från trycket den 23 mars 2023
Riksbankens föreskrifter (RBFS 2023:2) om kontantförsörjning beslutade den 1 mars 2023. Riksbanken föreskriver följande med stöd av 13 kap. 1 § 6 och 7 lagen (2022:1568) om Sveriges riksbank.

Innehåll och tillämpningsområde
1 § These regulations contain provisions regarding an institution's right to deposit and withdraw cash to and from the Riksbank. The right to deposit and withdraw cash belongs to institutions that have entered into an agreement on cash supply with the Riksbank.

Definitioner
2 § In these regulations, the following terms are defined as:
notification: a message from an institution stating that it wishes to deposit cash with the Riksbank, bank: a bank limited company, a savings bank, a member bank, and a foreign banking company that operates banking business from a branch in this country with support from Chapter 4, Section 1 or 4 of the Act (2004:297) on banking and financing business, order: a message from an institution stating that it wishes to withdraw cash from the Riksbank, compensation basis event: each individual deposit or withdrawal event, or credit timing, referred to in Sections 24 and 25, institution: a bank, a wholly-owned subsidiary of one or more banks, and a sorting company, which – is a participant in RIX or uses RIX for its payments through agreement with a participant in RIX, and – has entered into an agreement on cash supply with the Riksbank, cash: banknotes and coins in kronor, recyclable cash: cash that is to be sorted as recyclable cash as specified in Appendix 2, RIX: the Riksbank's system for the transfer of account-based money, sorting company: a Swedish or foreign payment institution according to the Act (2010:751) on payment services that conducts sorting activities on the Swedish market, and sorting activity: activity consisting of counting, authenticity checking, or quality sorting of cash for deposit into an account.

RBFS 2023:2
Payment
3 § Payment for cash in connection with deposit and withdrawal shall be made in RIX. Compensation for cash is paid with the cash's nominal value. Provisions regarding compensation to the Riksbank in certain cases are found in Sections 8, 14, and 34. Such payments shall be made in the manner specified by the Riksbank.

Deposit of cash
4 § The institution may deposit cash that is issued by the Riksbank and that is valid. The institution may deposit cash according to the institution's notification and according to what is specified in these regulations.

5 § The Riksbank is obliged to accept cash only to the extent that the notification can be handled. If the notification cannot be handled entirely, the Riksbank shall inform the institution in connection with the Riksbank's confirmation of the notification.

6 § Deposit of cash with the Riksbank shall take place in the following order:
a) The institution notifies the Riksbank. b) The Riksbank confirms receipt of the institution's notification. c) The institution delivers the cash to the Riksbank. d) The Riksbank receipts the receipt of the cash. e) The Riksbank pays for the deposited cash.

7 § Special regulations apply for the redemption of damaged and destroyed banknotes and coins, as well as banknotes and coins that are no longer valid.

8 § In the event that the institution cancels a notification, the institution shall compensate the Riksbank for the additional work that such cancellation entails according to Section 34. The same applies if the institution, without having cancelled, does not deposit cash in accordance with what was stated in the notification.

Packaging
9 § The institution is responsible for ensuring that cash deposited with the Riksbank is packaged according to Appendix 1.

Withdrawal of cash
10 § The institution may withdraw cash according to the institution's order and according to what is specified in these regulations.

11 § Withdrawal of cash from the Riksbank shall take place in the following order:
a) The institution orders cash. b) The Riksbank confirms receipt of the institution's order. c) The institution pays for the ordered cash. d) The Riksbank releases the cash to the institution. e) The institution receipts the receipt of the cash.

RBFS 2023:2
12 § The Riksbank is obliged to release cash only to the extent that the order can be fulfilled. If the order cannot be fulfilled entirely, the Riksbank shall inform the institution in connection with the Riksbank's confirmation of the order.

13 § The Riksbank is not obliged to release cash before the Riksbank has verified that the institution has fulfilled payment for the cash.

14 § In the event that the institution cancels an order, the institution shall compensate the Riksbank for the additional work that such cancellation entails according to Section 34. The same applies if the institution, without having cancelled, does not withdraw the cash in accordance with what was stated in the order.

Means of communication
15 § Notification and order from the institution shall be sent via a web interface designated by the Riksbank.

Times for notification and order as well as deposit and withdrawal 16 § The times applicable for notification, deposit, order, withdrawal, and payment are specified in the "Agreement on Cash Supply".

Place for deposit and withdrawal of cash 17 § Deposit and withdrawal of cash shall take place at a place designated by the Riksbank and in accordance with the institution's notification and order, respectively.

Authenticity and quality control of cash to be deposited 18 § The institution is responsible for ensuring that cash deposited with the Riksbank is authenticity-checked according to what is specified in the cash supply agreement.

19 § The institution is responsible for ensuring that cash deposited with the Riksbank is machine-checked for quality and sorted into the qualities usable and recyclable.

20 § The Riksbank may terminate the agreement on cash supply if the institution on a single occasion grossly violates or on repeated occasions, regardless of whether it is gross or not, violates its commitments regarding authenticity control.

Risk for the cash
21 § Upon withdrawal of cash, the risk for the cash passes from the Riksbank to the institution when the cash has been handed over to and receipted by the institution or its representative. Upon deposit of cash, the risk for the cash passes from the institution to the Riksbank when the cash has been handed over to and receipted by the Riksbank or its representative.

RBFS 2023:2
Handling of differences
22 § A difference exists when there is a discrepancy between the stated and actual value of the cash. In case of a difference, the Riksbank and the institution, which may potentially claim against the other regarding the difference, shall investigate at what time, how, and where the difference arose. When the Riksbank and the institution have agreed on the investigation, payment corresponding to the nominal amount of the difference shall be made at the next possible settlement time. In addition to this, the right to interest compensation according to Sections 24 and 25 may exist.

23 § Upon release of cash, the Riksbank is only liable if the difference concerns packaging arranged by the Riksbank or by the Riksbank's banknote or coin supplier.

Interest compensation
24 § The institution has the right to interest compensation if:
Upon deposit: the account in RIX that the institution has designated as the receiving account has not been credited with the nominal amount of the notified and deposited cash on the same day as the deposit occurs, provided that the cash was deposited no later than the time specified in the "Agreement on Cash Supply" and that payment could be made in RIX. Upon withdrawal: the nominal amount of the released cash at the time of withdrawal is less than the amount corresponding to the Riksbank's confirmation of the institution's order and which has been paid by the institution.

25 § The Riksbank has the right to interest compensation if the nominal amount of deposited cash is less than the amount notified by the institution.

26 § Interest per day shall correspond to 1/360 of the then applicable base rate with an addition of 0.25 percentage points.

27 § Interest compensation is calculated from the time when the compensation basis arises according to Sections 24 and 25, until the difference is settled.

28 § Interest compensation according to Sections 24 and 25 is paid only if the interest loss at a single compensation basis event amounts to at least 1,000 kronor and if the right to compensation for the same compensation basis event does not exist on other grounds. The party that has suffered interest loss shall submit its claim no later than 30 calendar days after the end of the calendar month in which the compensation basis event occurred.

Riksbank's representative
29 § The Riksbank may be represented by a representative in connection with the release and receipt of cash. The Riksbank is liable for a hired representative as for itself.

RBFS 2023:2
Institution's representative
30 § The institution may be represented by a representative in connection with the deposit and withdrawal of cash, provided that the institution has issued a special power of attorney for the representative that has been approved by the Riksbank. The institution is liable for a hired representative as for itself.

Visits to the Riksbank
31 § In order to visit the Riksbank or the Riksbank's representative to deposit or withdraw cash, the institution, or in the event the institution's representative, shall apply the provisions in Appendix 4. The Riksbank or the Riksbank's representative always has the right to refuse the institution, or in the event the institution's representative, if the Riksbank or the Riksbank's representative assesses that refusal is necessary from a security perspective.

Reserve procedures
32 § The reserve procedures specified in Appendix 3 shall be applied in the event of communication failure or failure in the institution's or Riksbank's system that means that ordinary procedures cannot be used and the Riksbank, after consultation with the institution and/or its representative, has informed that reserve procedures shall be applied.

33 § The institution and the Riksbank, respectively, shall keep each other continuously informed about the contact details that the institution and the Riksbank, respectively, use at any time.

Compensation for certain additional costs of the Riksbank 34 § If the institution does not follow the rules in these regulations, additional work may arise for the Riksbank or the Riksbank's representative. The institution is obliged to compensate the Riksbank for such additional work. Such compensation shall be calculated based on the Riksbank's or the Riksbank's representative's costs for time spent and shall be paid to the Riksbank according to an invoice issued by the Riksbank. ________ These regulations enter into force on May 1, 2023. By this legislation, Riksbank's Regulations (RBFS 2013:2) on cash supply are repealed. ________
Appendix 1 – Packaging, order, notification etc.
Appendix 2 – Quality control and quality sorting
Appendix 3 – Reserve procedures
Appendix 4 – Regulations on visits to the Riksbank or the Riksbank's
representative

RBFS 2023:2
Appendix 1 – Packaging, order, notification etc.
Banknotes

1. Banknotes shall be delivered in bundles that are packaged in value bags.
   The value bags shall be packed in plastic boxes at the Riksbank's offices according to the table below unless otherwise agreed. If the Riksbank has agreed with an institution on terms that deviate from the wording in this point, other institutions have the right to enter into agreements with similar terms.

2. By bundle is meant 100 pieces of banknotes. Bundles shall have a clearly
   marked bundle band with information about the date when the banknotes were sorted and who is responsible for the bundle.

Denomination Introduction year
20 2015
50 2015
100 2016
200 2015
500 2016
1000 2015

3. The banknotes shall be sorted into the quality usable and the quality
   recyclable.

4. By value bag is meant a transparent sealed security bag. Security bags
   shall be equipped with RFID tags and barcodes according to the specification provided by the Riksbank.

5. A plastic box may contain only one denomination. A box may only contain
   the quality usable or the quality recyclable.

6. Usable banknotes and recyclable banknotes shall be notified separately.
   Version shall also always be specified at notification.

7. Order, notification, and delivery of usable banknotes shall be made in
   amounts corresponding to full plastic boxes according to the tables below unless otherwise agreed. If the Riksbank has agreed with an institution on terms that deviate from the wording in this point, other institutions have the right to enter into agreements with similar terms.

8. Notification and delivery of banknotes classified as recyclable shall be
   made in amounts corresponding to full plastic boxes with full bags according to the tables below. The last of the plastic boxes with recyclable cash may at each delivery contain fewer bags than what is specified in the table.

RBFS 2023:2
Denomination
(kronor)
Number bundles/ bag
Amount
(kronor)/bag
Number of bags/ plastic box
Amount/ plastic box
1 000 10 bundles 1 000 000 5 bags* 15 000 000 500 20 bundles 1 000 000 12 bags 12 000 000 200 20 bundles 400 000 12 bags 4 800 000 100 20 bundles 200 000 14 bags 2 800 000 50 40 bundles 200 000 6 bags 1 200 000 20 40 bundles 80 000 8 bags 640 000

• Of recyclable cash of the denomination 1,000, up to 15 bags can be placed
  in the plastic box.

Coins
9. Usable coins shall be deposited packaged in rolls and boxes and on pallets
alternatively in plastic bags and on pallets according to the tables below unless otherwise agreed. The pallet shall be a half European pallet 80x60 cm with collar and lid. The pallet shall be strapped with two bands and marked with the institution's name and, if applicable, the name of the representative that the institution has used, as well as denomination, amount, packaging responsible person, and packaging date. Each bag and box shall be marked with the packaging date. If the coins are delivered in rolls, the box can be replaced by wrapping the rolls in plastic. If the coins are delivered in plastic bags, unless otherwise agreed, each bag shall contain an equal number of coins. The bags shall be transparent. The coins shall be sorted into the quality usable and recyclable (worn).

Coins of 1-, 2-, and 5-kronor as well as 10-kronor shall be notified as usable or as recyclable (worn).

Packaging for usable coins at box/roll – 1-, 2-, and 5-kronor as well as 10-kronor:

Denomination
(kronor)
Number of rolls/ box
Amount (kronor)/ box
Amount (kronor)/ pallet
10 20 5 000 200 000
5 25 5 000 200 000
2 25 2 500 100 000
1 25 1 250 50 000

Packaging for usable coins at plastic bag – 1-, 2-, and 5-kronor as well as 10-kronor:

Denomination
(kronor)
Number of coins/ bag
Amount (kronor)/ bag
Amount (kronor)/ pallet
10 1 000 10 000 200 000
5 1 000 5 000 200 000
2 1 000 2 000 100 000
1 1 000 1 000 50 000

RBFS 2023:2
10. Commemorative coins and worn coins shall be deposited in sealed plastic
bags according to tables below. The coins shall be deposited on a half European pallet 80x60 cm that is equipped with a collar and lid and is strapped with two bands. Both the pallet and each bag on the pallet shall be marked with the institution's name and, if applicable, the name of the representative that the institution has used, as well as denomination, amount, packaging responsible person, and packaging date. Bags with different denominations of commemorative coins may be placed on the same pallet. If so, the pallet shall also be marked with the total amount and the amount for each denomination.

Packaging of worn coins – 1-, 2-, 5-, and 10-kronor:

Denomination
(kronor)
Number of coins/ bag
Amount (kronor)/ bag
Amount (kronor)/ pallet
10 1 000 10 000 200 000
5 1 000 5 000 200 000
2 1 000 2 000 100 000
1 1 000 1 000 50 000

Packaging of commemorative coins

Denomination
(kronor)
Number of coins/ bag
Value Comment
4 000 100 400 000 Individual coins may be deposited 2 000 100 200 000 Individual coins may be deposited 1 000 100 100 000 Individual coins may be deposited 300 100 30 000 Individual coins may be deposited 200 100 20 000 Individual coins may be deposited 100 100 10 000 Individual coins may be deposited 50 100 5 000 Individual coins may be deposited 10 100 1 000 Individual coins may be deposited 5 100 500 Individual coins may be deposited

11. The commemorative coins may not be deposited in cases.

Other
12. The Riksbank does not compensate for coins that cannot be authenticity-checked
in a manner satisfactory to the Riksbank or have severe damage in the form of corrosion, drilled holes, or similar.

The coins may, however, be deposited with the Riksbank for destruction without compensation. The coins shall be clean, dry, and deposited separately from other coins. The coins shall be deposited either in bags on a half European pallet or as individual bags, of which the last bag does not need to be full. The coins shall be notified separately to the Riksbank via the designated email address. Otherwise, packaging, marking, and deposit shall be done according to point 10.

RBFS 2023:2
Appendix 2 – Quality control and quality sorting

1. The table below contains the levels for the boundary between the quality
   usable and recyclable. A banknote with a damage that is lower than the values in the table shall be sorted into the quality usable. A banknote with a damage that is equal to or exceeds the values in the table shall be sorted into the quality recyclable.

Damage Size
Weight or missing corner denominations 20, 50, and 1,000 kronor 130 mm² denominations 100, 200, and 500 kronor 100 mm² Tape 18 mm Tear 4 mm Hole 4 mm²

2. During quality control and quality sorting, the institution, in addition
   to the damage values specified above and the banknotes, shall apply the reference banknotes provided by the Riksbank.

3. Coins shall be quality-sorted in a coin sorting machine in connection
   with authenticity control.

RBFS 2023:2
Appendix 3 – Reserve procedures
Notification, order, and confirmation

1. When reserve procedures are to be applied, the institution shall send
   messages regarding notification and order via encrypted email. The Riksbank may decide that encrypted fax shall be used or other procedures in connection with the reserve procedures.

2. Only persons who have submitted signature samples may sign messages
   regarding notification or order.

3. The Riksbank does not provide confirmation of notification or order that
   occurs via fax.

4. If the reserve procedures are applied, the times for reserve procedures
   specified in the "Agreement on Cash Supply" apply.

Payment
5. When reserve procedures are applied regarding notification and order,
the same rules for payment apply as in Section 6 and Section 11, respectively.

6. The institution and the Riksbank, respectively, do not have the right to
   interest compensation for payment that is delayed due to the application of reserve procedures.

7. When ordinary procedures for payment cannot be used, the reserve procedures
   specified in the conditions for RIX and monetary policy instruments shall be used.

RBFS 2023:2
Appendix 4 – Regulations on visits to the Riksbank or the Riksbank's
representative

1. Regarding the deposit and withdrawal of cash, the institution, or in the
   event the institution's representative, shall have authorization for business to guard banknotes, coins, or other property in connection with transport, in accordance with the Act (1974:191) on security companies. The persons who visit the Riksbank or the Riksbank's representative shall be employed by the institution, or in the event the institution's representative.

2. The persons who visit the Riksbank or the Riksbank's representative shall
   be notified in writing in advance and shall identify themselves upon arrival.

3. The institution, or in the event the institution's representative, shall
   in writing in advance provide contact details regarding the person who leads the daily operational work of value transport to and from the Riksbank or the Riksbank's representative and regarding the person who has management responsibility for the business.

4. Regarding the deposit and withdrawal of cash, the information about the
   Riksbank or the Riksbank's representative that the institution, or in the event the institution's representative, handles in its premises or in its IT environment shall be protected so that unauthorized persons do not have access to it and so that the information cannot be distorted. At the Riksbank's request, the institution, or in the event the institution's representative, shall report which protective measures have been taken. In connection with the report, the Riksbank has the right to visit the premises where the information is handled.

5. The institution, or in the event the institution's representative, shall
   immediately notify the Riksbank of security incidents and other circumstances of a general or specific nature that may affect the security at deposit to or withdrawal from the Riksbank or the Riksbank's representative.

6. Regarding the deposit and withdrawal of cash, the institution, or in the
   event the institution's representative, shall have procedures that ensure that a person who no longer needs to have access to information or equipment regarding the Riksbank or the Riksbank's representative, does not have access to such information or equipment.

7. In addition to the above, the institution, or in the event the institution's
   representative, shall follow the more detailed instructions that the Riksbank communicates in writing or orally from time to time.

8. The institution, or in the event the institution's representative, shall
   ensure that all persons who may come to visit the Riksbank or the Riksbank's representative to deposit or withdraw cash receive training on the content of this appendix.