DID YOU KNOW THAT
Swedish heads of IMF
The IMF has been headed by Swedes during two periods of the institution's 60-year history, namely Ivar Rooth (1951-56) and Per Jacobsson (1956-63).
Group of Ten, G10
G10 stands for the Group of Ten, although it consists of eleven countries, that is to say, the G7 (the United States, Canada, the United Kingdom, France, Germany, Italy and Japan) and Sweden, the Netherlands, Belgium and Switzerland.
Long history at BIS
The Governor of the Riksbank has been a member of the BIS board since 1937.
International CooperationThe Riksbank regularly participates in around 130 international committees and working groups. The majority of these contacts are linked to the Bank’s or Sweden’s membership of international institutions and groups. Openness towards the outside world affects the Riksbank’s own activities and the Swedish economy, which makes it essential to maintain a good overview of developments and actively attempt to influence them. This openness also offers good opportunities for learning from the experiences of other countries.
OUR MOST IMPORTANT FORUMS FOR COOPERATION
The Riksbank is Sweden's point of contact with the International Monetary Fund, IMF. The day-to-day work is coordinated with the Swedish Finance Ministry and within the Nordic-Baltic constituency, which appoints one of the 24 members of the IMF's Executive Board. With regard to the EU work, the Riksbank participates in the ECB General Council and in the informal ECOFIN Council, as well as several sub-groups. The Riksbank is also represented on the Board of the Bank for International Settlements, BIS, and in committees within the G10.
CURRENT INTERNATIONAL ISSUES
The Riksbank actively participates in international policy discussions throughout its field of operations. Questions on the agenda include how the authorities within the EU will adapt regulations and working methods to guarantee efficiency and stability in an increasingly cross-border financial market. The Riksbank also participates in the work within the Basel Committee on Banking Supervision on producing a draft for new capital adequacy regulations. An overview of the IMF’s regulations regarding large loans is another issue given priority by the Riksbank