DID YOU KNOW THAT
High turnover in the payment system
The RIX system has a weekly turnover that corresponds to the entire Swedish annual gross domestic product, GDP.
Card transactions on the increase
Since the 1990s the number of transactions using cards has increased sixfold. Cards now account for 50 per cent of the total number of transactions. The use of cheques has gradually declined and is currently negligible.
Financial stabilityOne of the primary functions of the Riksbank is to promote a safe and efficient payment system. The payment system covers the entire infrastructure of marketplaces, institutions, payment instruments and the technical and administrative systems used to make payments and transfer securities. The banks play an important role in the payment system as they implement various payment services and supply the accounts used for many of the transactions. For the Riksbank to achieve its target of a safe and efficient payment system, there needs to be stability in the financial system as a whole. How do we avoid crises in the financial system?An important task for the Riksbank is to regularly monitor and analyse risks and threats to the stability of the financial system. The purpose of the analysis is to detect at an early stage any trends or vulnerabilities that could together lead to a serious crisis in the Swedish financial system. The major banking groups have particular importance in this analysis. The Riksbank’s overall assessment of stability is published twice yearly in the Financial Stability Report.READ MORE What will we do if a financial crisis arises?A financial crisis can arise unexpectedly and spread rapidly. Good preparations for crisis management can be essential in an emergency situation. For instance, it is important to have efficient lines of communication with both Swedish and foreign authorities.READ MORE