Riksbank seeks act amendment to host BIS innovation hub
Swedish central bank requests five-year permission for payments of up to $3.2 million a year
Sveriges Riksbank submitted a request to the Riksdag, the Swedish parliament, on March 4 to amend the central bank act to allow Sweden to host an innovation hub of the Bank for International Settlements.
In order to host the hub in Sweden, the central bank “needs to undertake to co-finance its activities”. But the current legislation does not allow the Riksbank to finance activities of international organisations.
As a result, the central bank requests the Riksdag’s approval to make payments
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