The Bank of Portugal, together with the Banque de France and Austria’s Oesterreichische Nationalbank, published an agreement to strengthen their cooperation on banknote production, centred on the Banque de France acquiring stakes in banknote printing operations in Portugal and Austria. Under the arrangement, the Banque de France will acquire a stake in OeBS, the Austrian banknote printer owned by Oesterreichische Nationalbank, and in Valora, the Portuguese banknote printer owned by the Bank of Portugal. The move is framed as supporting monetary sovereignty by maintaining control over the industrial and logistical cash supply chain, and it builds on earlier cooperation including Europafi, a joint venture established for banknote paper production. The stated objective is to create a European public cash production hub linking three modern and secure banknote printing facilities.
Bank of Portugal 2026-03-02
Bank of Portugal, Banque de France and Oesterreichische Nationalbank deepen banknote production cooperation with Banque de France stakes in Valora and OeBS
The Bank of Portugal, Banque de France, and Oesterreichische Nationalbank have agreed to enhance cooperation on banknote production, with the Banque de France acquiring stakes in Portuguese and Austrian banknote printers. This initiative aims to support monetary sovereignty and establish a European public cash production hub, integrating three secure banknote printing facilities.