Sveriges Riksbank is Sweden’s central bank and a public authority under the Riksdag, the Swedish parliament. The Bank’s monetary policy responsibility and the right to issue banknotes and coins are laid down in the Instrument of Government, one of Sweden’s constitutional laws. The Riksdag has decided on a more detailed framework for the Riksbank’s tasks in the Sveriges Riksbank Act.
On the basis of this legislation, the Riksbank can decide how it shall implement its tasks in the day-to-day business. There are a number of governing documents for this:
- Rules of Procedure
- Instructions
- Policies
- Rules
- Descriptions of routines
The General Council decides on the Rules of Procedure. These specify the Riksbank’s overall organisation and regulate certain managerial and decision-making matters. The Instructions contain the Executive Board’s more detailed decisions about the organisation.
There are also Policies, Rules and Descriptions of routines at the Riksbank, which lay down stances, principles and methods for the way in which activities shall be conducted in various fields. The Riksbank’s ethical guidelines are one example. They contain provisions concerning insider issues and the way in which employees shall report their holdings of securities.
The Riksbank may also issue regulations, that is, the Bank may determine rules for matters pertaining to monetary policy, the payment system or cash management.