Payments Department

The Payments Department (AFB) aims to ensure that payments are safe, efficient, and accessible, and that they function effectively both in peacetime crises and during periods of heightened alert. This is achieved, among other measures, through the provision of the RIX payment system. The department is also responsible for the Riksbank’s role in ensuring the supply of cash in society. In addition, it monitors and analyses developments in the payments market.

The RIX payment system enables market participants to execute mutual financial transfers safely, without credit or liquidity risks. The RIX system comprises two payment services, RIX-RTGS for large-value payments and RIX-INST for instant payments (e.g. Swish). Participants in RIX include banks and other payment service providers, as well as financial market infrastructures such as Bankgirot. In RIX-RTGS, participants can access intraday credit in return for pledging collateral to the Riksbank. The Payments Department is responsible for agreements with RIX participants, as well as for the development and operation of both the RIX system and the collateral management framework for intraday credit.

The Riksbank has the exclusive right to issue Swedish banknotes and coins and is responsible for the country’s cash supply. The Payments Department carries out tasks related to cash supply, including the provision of banknotes, coins and the redemption of invalid and damaged banknotes and commemorative coins.

The department monitors and analyses developments in the payments market, both in Sweden and internationally, in order to adapt its operations, propose policy measures and contribute to the development of safe, efficient and accessible payments. Parts of the department’s analysis, along with recommendations for improving the functioning of the payments market, are published in the annual Payments Report.