Central Banking

Swedish seigniorage hits five-year high

The Riksbank has offered to pay SEK5.9 billion ($737m) of its profits to the national treasury for the financial year 2008, Sweden's central bank said on Monday.

The amount was calculated in accordance with the guidelines regarding the transfer of the central bank's profits or seigniorage since 1988. Under these rules an amount equal to 80% of the average profit over the preceding five years - following certain adjustments - is transferred to the Treasury.

This year's transfer is the largest

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