The cash management advisory board is a forum for the discussion of issues in the field of cash management in society. Besides the Riksbank, the board is made up of representatives from banks, cash depot companies, cash-in-transit companies, the retail trade, trade unions and the authorities involved. The board is headed by Riksbank Governor Stefan Ingves.
The meeting on 25 April 2007 opened with reports from the board’s various working groups. The working group for security issues discusses risks in the cash management process. The group plans to form a reference group to discuss in detail demands on agents in the field of cash management with regard to the lowest security level.
The working group is also following the task it has given to doctoral candidate Johan Lundin of the Faculty of Engineering at Lund University to make a status analysis of the cash management process in Sweden. He will look at structures, agents, threats and risks with the aim of developing a model in order to be able to analyse shocks and changes in the field of cash management. The results of this survey will be presented to the board after the summer.
The board also discussed various decisions taken by authorities, the aim of which is to increase security around the cash-in-transit companies and how these decisions can affect agents in the field.
The working group for the cash management structure mainly follows the work with the expansion of the bank-owned cash depots. There are currently 3 depots and further depots will open in the coming days. By the end of the year there will be some 12 depots.
The board was also informed that in January 2007 the Ministry of Defence appointed an inquiry which, among other things, has the task of analysing the need to assign protected status to important premises for Sweden’s money supply and security companies’ cash transports.
The working group for banknotes and coins, whose task is to monitor and provide information about trends in the field, presented a survey, among other things, on the banknote and coin denominations the general public considers necessary. The results show that 67 per cent of the general public do not consider the 50-öre coin necessary. As regards banknotes, 12 per cent of those who answered the survey consider the 1,000-kronor banknote unnecessary.
Finally, the Riksbank presented an ongoing survey about society’s costs for card and cash payments. The survey is expected to be ready for publication during the summer and will be distributed to the cash management advisory board in the autumn.
The next meeting of the cash management advisory board is planned to take place 25 October 2007.