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The Riksbank Monetary policy Financial stability Market operations Statistics Published Research Notes & coins

The Sveriges Riksbank Act The Instrument of Government Rules of Procedure Instructions for Sveriges Riksbank Appendix Ethical guidelines for employees of the Riksbank

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Instructions for Sveriges Riksbank

Introduction

Article 1. The General Council of the Riksbank has decided on Rules of Procedure for the Riksbank. The Rules of Procedures specify the Riksbank's overall organisation and regulate certain managerial and decision-making matters.

These Instructions for Sveriges Riksbank contain a more detailed description of the Executive Board's provisions regarding the organisation of the Riksbank.

The Riksbank’s management, governance and organisation

The Executive Board

Article 2. The Executive Board directs the Riksbank’s operations, which entails responsibility for the aims, development and efficiency of these operations.

Article 3. The Executive Board shall decide the following matters:

Decisions on monetary policy

Monetary and foreign exchange policy measures
The Inflation Report
Reports on monetary policy to the Riksdag Committee on Finance

Decisions on the safety and efficiency of the payment system

Important issues of principle regarding the stability and efficiency of the payment system
The Financial Stability Report

Decisions on asset management

Regulations, including currency distribution and risk authorisation, for the management of the gold and foreign reserve assets and for the management of the Riksbank's other financial risks

Decisions on international issues

Important issues of principle regarding international opinions
International loan issues

Decisions on general management and aims for the bank’s operations

Strategy and specified targets for the Riksbank’s operations
Annual operational plan, budget and staffing levels
Large investments or other strategic commitments not covered by the operational plan
Strategic information and communication issues
Strategic ownership issues, terms of reference and issues that should be discussed at shareholders’ meetings

Decisions on

Annual report and accounts
The Riksbank's statutes
Submissions to the Riksdag and Government within the Executive Board’s area of responsibility
Important issues of principle regarding opinions on consultation documents
Auditing plan for internal auditing and, where necessary, measures resulting from the suggestions and recommendations arising in the auditing, and
The appointment of heads of department, advisors to the Executive Board and certain other managerial positions as described in Articles 17 and 18.

Other matters shall be decided as stated in these Instructions. The Executive Board can additionally delegate preparation of matters or decision-making authority to the Governor or a Deputy Governor.

The Governor of the Riksbank

Article 4. The Governor is chairman of the Executive Board.

Article 5. The Governor shall make decisions on measures in foreign exchange or monetary policy situations so urgent that there is no time to await a decision by the Executive Board. Other members of the Executive Board shall be informed immediately of any such decisions taken.

Article 6. The Governor shall put forward proposals regarding the appointment of posts decided by the Executive Board in accordance with Article 3, and shall exercise managerial responsibility for the heads of department in accordance with Article 21, items 2-6.

Deputy Governors of the Riksbank

Article 7. The First Deputy Governor has the role of the Governor's alternate.

Article 8. A Deputy Governor shall, for certain matters in accordance with Article 3, make decisions or put forward proposals for decisions as follows:

One Deputy Governor shall present proposals for Inflation Reports and proposals for decisions on monetary and foreign exchange policy measures.
One Deputy Governor shall present proposals for Financial Stability Reports and proposals on any measures aimed at ensuring the stability and efficiency of the payment system.
One Deputy Governor shall present proposals for regulations in the field of asset management.
One Deputy Governor shall present proposals for important issues of principle regarding opinions on consultation documents and make decisions on other opinions on consultation documents.
One Deputy Governor shall present proposals regarding strategic information and communication issues.

This delegation is stated in more detail in the Appendix to the Instructions.

Heads of department

Article 9. The Riksbank is divided into departments as stated in the Rules of Procedure. The division of the main work tasks among the departments is shown in the Appendix to the Instructions. Each department is led by a Head of Department.

Article 10. The Head of Department shall, within the scope established by the Executive Board,

run and develop the department’s activities within the scope of the operational plan and budget approved by the Executive Board,
present proposals for strategy, operational plan and budget for the department’s activities,
establish an appropriate organisation for the department,
be responsible for ensuring that there are appropriate regulations and guidelines for the department’s activities,
be responsible for international issues within the department’s field,
be responsible for managing risks related to the department’s activities,
be responsible for appropriate business continuity planning in the department,
decide, or delegate the decision-making power, in those matters that fall within the framework of the department's activities,
determine which matters should be referred to the Executive Board in accordance with Article 3,
ensure that background information is produced for matters that will be referred to the Executive Board for a decision,
be responsible for ensuring that applicable statutes and agreements are observed,
where necessary, coordinate activities in the department with activities of other departments, and
be responsible for keeping the Management Group and the Executive Board up-to-date on issues significant to the Riksbank.

A Head of Department can, after consultation with the Governor, always refer a matter to the Executive Board.

The Head of the General Secretariat is responsible for overall coordination between the departments and for regularly following up the Riksbank's activities.

Article 11. The Head of the Internal Auditing Department shall regularly keep the Governor informed.

Article 12. The Head of Department appoints all posts within the department, apart from the posts appointed by the Executive Board in accordance with Article 3. The appointment of Deputy Heads of Department, the Head of the Research Division, the Head of the Communications Secretariat, the Chief Press Officer and the Head of the Risk Management Division will be carried out in consultation with the Executive Board.

The Riksbank’s Management Group

Article 13. A Management Group shall be established, consisting of the head of all departments, excluding the Internal Auditing Department. The Management Group’s main function is to coordinate and follow up the bank’s operations. Its field of responsibility and function are described in more detail in the Appendix to the Instructions.

Deputy Heads of Department

Article 14. A Deputy Head of Department shall decide in accordance with the Head of Department's delegation decision.

Heads of Divisions

Article 15. A department may be divided into divisions. A division may also have the title of secretariat. Each division is managed by a Head of Division, who is appointed by the Head of Department. The Head of Division shall decide, or delegate decision-making power, within the division’s field of operations in accordance with the Head of Department’s delegation decision.

Group Managers

Article 16. If there are special reasons for doing so, divisions can be divided into groups as decided by the Head of Department. Each group is led by a Group Manager, who is appointed by the Head of Division in consultation with the Head of Department. The Group Manager shall decide, or delegate decision-making power, within the group’s field of operations in accordance with the Head of Division’s delegation decision. A Group Manager who leads activities at an external Riksbank office or depot outside of the head office will have the title Branch Manager.

Officials with special responsibility appointed by the Executive Board

Article 17. An official appointed by the Executive Board shall be responsible for providing administrative support to the General Council of the Riksbank.

Article 18. The General Counsel manages the legal work, reporting directly to the Governor of the Riksbank, and can refer matters to the Executive Board for a decision. The General Counsel appoints the other legal posts and exercises managerial responsibility of these in accordance with Article 21, in consultation with the Head of the General Secretariat Department. The General Counsel shall decide, or delegate decision-making power, on matters that according to these Instructions should be referred to the General Counsel and otherwise in accordance with decisions by the Head of the General Secretariat Department.

The General Counsel has the authority to represent the Riksbank himself or by proxy and to initiate proceedings before a court of law and other authorities. The General Counsel is also the legally responsible publisher of the Riksbank’s Statute Book.

Crisis management groups

Article 19. There shall be two management groups to head the Riksbank’s operations in case of an emergency; the Management Group for Conventional Crises and the Management Group for Disturbances in the Financial System.

Their fields of responsibility and functions are described in more detail in the Appendix to the Instructions.

Responsibilities of Riksbank officials

Article 20. Each official shall be familiar with and observe the current regulations and guidelines at the Riksbank and maintain and develop personal knowledge within the Riksbank's field of operations.

Article 21. Each manager shall

plan, lead and distribute the work within their field of operations so that allocated resources are optimally utilised to achieve objectives, and ensure that the Riksbank’s total resources are used cost-efficiently,
represent the Riksbank as employer in relation to the personnel within the department, or according to a delegation decision, the division or the group,
ensure that the personnel is familiar with, understands and observes the current regulations and guidelines within the Riksbank,
be responsible for providing internal information to employees,
work to encourage the personnel to develop their skills and to ensure that initiative, cooperation and an ability to see the overall picture are encouraged, and
work to create a good, positive working environment characterised by openness and mutual respect.

Administrative regulations

Registration

Article 22. There shall be a central register for the registration of public documents at the Riksbank. All public documents that are not obviously of little significance to the Riksbank's operations shall be recorded in the central register.

Documentation of Decisions

Article 23. Decisions on matters concerning the exercise of public authority, matters where a private person is a party or matters that are otherwise of significance for the Riksbank, shall be documented. The documentation shall specify the registration number, the date of the decision, the content of the decision, who has taken the decision and, where appropriate, who has presented the matter or who was involved in the final processing of the matter without participating in the decision.

Release of Public Documents

Article 24. Matters concerning the release of public documents kept by the Riksbank shall be determined by the official responsible for the document. In doubtful cases, or if the petitioner requests a decision by the Riksbank, the matter shall be examined by the General Counsel, or, after delegation, by another legal counsel at the Riksbank.