Sweden's Riksbank Deputy Governor Aino Bunge highlighted the need for regulation to protect cash as payment behaviour digitises, stressing its importance for inclusivity and as a crisis alternative. Bunge supported a December 2024 inquiry proposing mandatory cash acceptance by certain retailers and emphasized safeguarding cash infrastructure. The Riksbank plans to respond comprehensively if the proposals advance to formal consultation.
Policy & regulationReform agendas & prioritiesPayments and payment systems
Sweden's Riksbank reported that Deputy Governor Aino Bunge, speaking at a seminar in the Swedish parliament, emphasised the need for regulation to protect the status of cash as payment behaviour rapidly digitises. She argued that cash remains necessary both to ensure everyone can pay and as an alternative means of payment in the event of crisis or war.
Bunge welcomed an inquiry on cash presented in December 2024, which proposes obliging retailers selling food and pharmacy products to accept cash. She also supported the inquiry’s focus on protecting the underlying cash infrastructure, highlighting vulnerabilities in the transport of cash to and from businesses, an issue the Riksbank previously raised with the inquiry.
The Riksbank indicated it intends to provide a comprehensive response to the inquiry if the proposals proceed to a formal consultation.
Sweden's Riksbank supports the Ministry of Finance’s Cash Inquiry proposals to mandate cash acceptance for essential purchases and enhance banks' statutory responsibilities for core cash services. The Riksbank emphasizes these measures are crucial for inclusion and payment-system resilience, advocating for immediate legislative changes. It also…
Riksbank’s First Deputy Governor Aino Bunge supported the Government’s bill to safeguard cash payments for essential goods and enhance access to cash services during a seminar in Parliament. She emphasized cash's importance in crises and for those without digital payment access, urging regular cash use to maintain system functionality. The bill…