Banknotes
RBA economist proposes ‘survival model’ of banknote life
The research discussion paper outlines an alternative method of predicting how long banknotes will last, finding the ‘survival model’ produces less volatile estimates
BoE reveals new £20 note will be polymer
Next series of £20 banknotes will feature polymer substrate, in line with £5 and £10 notes; as yet unnamed visual artist will be included in design
SNB reveals launch date for delayed banknote series
Roll-out of ninth banknote series to begin next year; new notes believed to include unique security features but central bank is being tight-lipped in the run up to the launch
PBoC revamps 100 yuan note
New versions of China’s highest denomination note include improved security features to fight counterfeiting and improve machine-readability
Riksbank launches app as drive to publicise new notes and coins accelerates
Central bank’s first smartphone app helps public identify counterfeit banknotes and features voice-over by Stefan Ingves; part of communications push ahead of new banknote and coin series
BoE launches year-long artist collaboration
Martin John Callanan to work with BoE for a year to produce works reflecting central banking, in what Mark Carney hopes will be a creative way of communicating
RBNZ to cut costs despite need to implement major new projects
Central bank plans to cut costs and use resources more effectively following tighter funding deal; strategy includes payment systems upgrade, new banknote series and first stress tests
US Treasury: woman will appear on new $10 banknote
More than a century after Martha Washington was featured on a $1 note, Treasury secretary Jack Lew announces he will pick another woman to feature on the $10 note
Zimbabwe pulls local currency from circulation
Locals will be able to exchange their Zimbabwean dollars for US dollars until September 30; any amount up to Z$175 quadrillion in their bank accounts will be swapped for a flat $5
RBNZ strikes new funding deal with government
Funding agreement features small increase in core operating expenditure over the next five years and additional $51.4 million to help meet cost of issuing new banknotes
New euro banknotes go down well in the Netherlands
Study conducted for the Netherlands Bank finds new €5 and €10 banknotes are more popular than their predecessors, though familiarity with design features remains low
Nigerian central bankers accused of banknote ‘mega scam’
Six accused of taking more than $25 million worth of old banknotes that were meant to be destroyed; Economic and Financial Crime Commission says they will ‘face the wrath of the law’
BoE asks public to nominate artist for next £20 note
Mark Carney says next individual on £20 note will be a visual artist, and asks members of the public to nominate people from the field; committee will then draw up a shortlist
Malaysian deputy unveils ‘ink-staining’ technology for ATMs
Muhammad bin Ibrahim says ATMs have been ‘frequent target’ for criminals in recent years; new technology will stain notes with indelible ink if machine is being robbed
RBA paper finds high social cost to counterfeiting
Researchers try to put a figure on how much counterfeit banknotes cost the economy; Australian economy suffers from lower counterfeiting than elsewhere
Bank of Spain remodels in light of SSM
Executive commission approves a new structure for bank resolution and regulation, as well as changes to the central bank’s cash management functions
Growth in banknote circulation drops in Namibia after ATM mandate
Annual report shows central bank mandated banks to re-calibrate their ATMs to better balance the dispense of banknotes to the market, lowering the rate of banknote issuance
Argentines ask central bank for higher-denomination banknotes
Argentine bankers’ associations urge the central bank to print higher-denomination banknotes, as ATMs filled with 100 peso notes struggle to meet public demand
Riksbank sees payments challenges ahead
Annual report notes growing interest in digital forms of payment is leading to declining income from seigniorage; new banknote series to enter circulation in 2015
Former ECB banknotes director describes 'arduous path' to Europa launch
Antti Heinonen details the challenges and occasional mishaps in delivering a ‘quantum leap’ in eurozone banknote designs, with the latest new note to be issued later this year
Counterfeiting rate ‘extremely low’ for Canadian polymer notes
Bank of Canada’s polymer series now comprises 75% of the banknotes in circulation, and is subject to a counterfeiting rate of just 0.56 parts per million
New Australian banknotes to feature 'embossed bumps'
RBA to become second central bank to emboss polymer banknotes with 'bumps', making it easier to feel the difference between denominations
Security at Bank of Albania improved in wake of theft
Governor Gent Sejko insists security at the central bank is ‘at the right levels’ following the $5.2 million theft from its vaults last year; calls for vigilance from staff members
British minister brands Argentina’s new Falklands banknote a ‘stunt’
The Central Bank of Argentina has issued a new 50 peso banknote featuring the Falkland Islands, which sparked criticism, with a British minister branding it a ‘stunt’