Latest News

Astrid Mitchell

29 July 2021

4 min read

100 Years of SARB, the Pandemic and Recent Events

The South African Reserve Bank (SARB) was founded 30 June 1921, shortly after the end of World War I. Its primary objective was to restore and maintain order in the issue and circulation of domestic currency and restore the gold standard to the pre-World War I rate of exchange.

Central Banks

Astrid Mitchell

29 July 2021

1 min read

Delay to Banque de France’s New Printworks

The proposed relocation of the Banque de France’s banknote printing plant has been put back to 2026.

Central Banks

Astrid Mitchell

29 July 2021

2 min read

Philippines Keeps the Cash Circulating During COVID, and Saves on Costs

To ensure adequate supply of cash during the pandemic, the Bangko Sentral ng Pilipinas (BSP) outsourced 62.2% of banknotes from foreign printers in 2020, printing only 34.7% locally.

Cash Handling Central Banks

Astrid Mitchell

28 June 2021

3 min read

In Other News…

The Central Bank of Honduras has announced that a new 200 lempira note will be issued in September. Notes of 1, 2, 5, 10, 20, 50, 100 and 500 lempiras currently circulate in Honduras. The last note to be introduced – the 500 – was in 1997.

Banknotes Central Banks Coins

Astrid Mitchell

28 June 2021

1 min read

Defining Minimum Visual Quality Standards: Malaysia’s Approach

It is a challenge to introduce minimum quality standards for banknote fitness. There are a number of good examples of how to manage machines that handle banknotes, whether in a cash centre or elsewhere, the European Central Bank being an example. But reaching those who handle and work with cash without the benefit of machines is more difficult.

Central Banks Studies, Reports

Astrid Mitchell

28 June 2021

3 min read

Bank of England Annual Report – Banknotes Increase, Counterfeits Fall

The week before the issue of the new £50, the Bank of England published its annual report for 2020/21, which showed an increase in notes in circulation of £10.3 billion (14%). It credited this increase to the launch of the new polymer £20 note in February 2020 and the pandemic. These figures are quite a contrast to the Reserve Bank of India’s annual report, also issued recently, which saw a 7.2% increase.

Central Banks Studies, Reports

Astrid Mitchell

28 June 2021

2 min read

People in the News

The Mexican President has nominated his finance minister and economist Arturo Herrera Gutiérrez as the next Governor of the Bank of Mexico, to replace the incumbent, Alejandro Díaz de León, whose mandate is not being renewed.

Central Banks Companies News

Astrid Mitchell

28 June 2021

3 min read

A Busy Year for the RBI

The Reserve Bank of India (RBI) has published its 2020/21 Annual Report which saw a small rise in demand for banknotes and the RBI continuing with its programme of developing how it does its business.

Central Banks Studies, Reports

Astrid Mitchell

28 June 2021

5 min read

News in Brief

The ATM Security Association (ASA) has launched a new worldwide Crisis and Crime Management Intelligence System (CCMIS).

Central Banks Companies News

Astrid Mitchell

29 April 2021

3 min read

Using Advanced Maths for Inspection

A number of central banks are investing time and money to understand the life cycle and performance of banknotes based on tracking the changes in individual banknote detector scores over time. It does this by reading banknote serial numbers, and their detector data, and analysing the results. Given the number of detectors on a sorting machine, the volume of data generated reaches the realms of ‘big data’.

Central Banks Studies, Reports

Marc Surrency

29 April 2021

10 min read

‘Four Nations’ Common Adversarial Analysis Assessment Methodology

The Four Nations group was founded in 1978 and consists of five central bank members – the Board of Governors of the Federal Reserve System, Bank of Canada, Reserve Bank of Australia, Bank of England and Banco de México. The group is a forum in which its members share information and experiences on banknote development, issuance and distribution, counterfeit deterrence, and relevant technical studies.

Central Banks Studies, Reports

Astrid Mitchell

29 April 2021

3 min read

Impact of COVID-19 on Cash Operations in Malaysia

The year of the pandemic saw Bank Negara Malaysia (BNM) take a wide range of steps to ensure payments worked effectively, according to its 2020 Annual Report.

Central Banks COVID-19 Studies, Reports

Astrid Mitchell

29 April 2021

2 min read

Bank of Canada Reports on 2020

The COVID-19 pandemic saw payment behaviour deviate markedly from historical trends. Unsurprisingly this features heavily in the Bank of Canada’s 2020 annual report. On one hand it put pressures on its cash inventories as the Bank moved fast to boost stocks at its regional distribution centres. Its operations centres had to respond with agility and to innovate to ensure cash supply was uninterrupted.

Central Banks COVID-19 Studies, Reports

Astrid Mitchell

29 April 2021

3 min read

In Other News…

Japan will begin issuing newly redesigned ¥500 coins from around November, the Finance Ministry has said, after their initial release in the first half of the fiscal year from April was postponed due to the pandemic, and in particular delays to updates to ticket and automated teller machines.

Banknotes Central Banks Coins

Astrid Mitchell

29 April 2021

2 min read

Bank of England Shrinks Cash Footprint

The success of the new polymer series and falling transactional demand are behind the Bank of England’s proposal to close its regional cash distribution centre in the northern city of Leeds, in February 2023.

Central Banks

Astrid Mitchell

29 March 2021

3 min read

The ECB’s Environmental Sustainability Journey

At Intergraf's just-concluded Currency+Identity online conference, Bernadette O’Brien presented the work done by the European Central Bank (ECB) on improving the environmental sustainability of euro banknotes. From its first life cycle assessment (LCA) of the first euro series in 2004 through to its 2020 Product Environmental Footprint project, the ECB has steadily worked to ensure the euro banknotes are ‘good citizens’.

Central Banks Sustainability

Astrid Mitchell

29 March 2021

1 min read

People in the News

The Federal Reserve of New York has announced the appointment of Naureen Hassan as its First Vice-President and Chief Operating Officer (COO). She replaces Michael Strine, who retired at the end of February.

Central Banks Companies News

Astrid Mitchell

29 March 2021

4 min read

Five Winners in Expanded Range of Central Banking Awards

The National Bank of Ukraine, the ECB and Federal Reserve, Crane Currency and CCL Secure are among the winners in the Central Banking Awards 2021, presented annually by the Central Banking Journal and which this year have nearly doubled in number to 29.

Central Banks Companies

Astrid Mitchell

29 March 2021

4 min read

In Other News…

The Central Bank of Iraq has added a feature to its banknotes to protect them from bacteria and viruses, including the coronavirus strain. The feature is not named, but is described as a biological pesticide developed by international companies specialised in printing banknotes, and is presumed to be incorporated in a coating/varnish. The notes containing the feature will be put into circulation soon.

Banknotes Central Banks Coins

Astrid Mitchell

29 March 2021

2 min read

Russia Unveils New Plans for Banknotes and Cash Circulation

The Board of the Central Bank of Russia has issued its ‘Guidelines for Cash Circulation Development in 2021-2026’. Its over-arching goals are to ensure the stability of cash circulation, optimise costs based on the development of technical infrastructure, as well as the formation of partnerships with banks for holding stocks of banknotes.

Banknotes Central Banks