The Bank of France has announced an agreement with Oesterreichische Nationalbank and Banco de Portugal to deepen cooperation on banknote production, with the French central bank set to take a financial participation in the two partner-owned banknote printing companies. Under the arrangement, the Bank of France will invest in OeBS in Austria, owned by Oesterreichische Nationalbank, and Valora in Portugal, owned by Banco de Portugal, building on ties first established in 2017. The move is framed around maintaining adequate control over the industrial and logistical cash supply chain, and it builds on earlier cooperation via Europafi, a joint venture dedicated to banknote paper production. The three central banks also position the initiative as creating a European public cash-production hub combining three of the most modern and secure banknote printing works.
Bank of France 2026-03-02
Bank of France expands banknote production cooperation and will take stakes in Austrian and Portuguese cash printers
The Bank of France has agreed to deepen cooperation with Oesterreichische Nationalbank and Banco de Portugal on banknote production, including financial participation in their printing companies. This initiative aims to enhance control over the cash supply chain and establish a European public cash-production hub. The collaboration builds on previous ties and the Europafi joint venture for banknote paper production.