Sweden: Riksdag

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Yale University EliScholar – A Digital Platform for Scholarly Publishing at Yale YPFS Documents (Series 1) Browse by Media Type 1-26-2021 The Instrument of Government Sweden: Riksdag Follow this and additional works at: https://elischolar.library.yale.edu/ypfs-documents Recommended Citation Sweden: Riksdag, "The Instrument of Government" (2021). YPFS Documents (Series 1). 12321. https://elischolar.library.yale.edu/ypfs-documents/12321 This Document is brought to you for free and open access by the Browse by Media Type at EliScholar – A Digital Platform for Scholarly Publishing at Yale. It has been accepted for inclusion in YPFS Documents (Series 1) by an authorized administrator of EliScholar – A Digital Platform for Scholarly Publishing at Yale. For more information, please contact elischolar@yale.edu. The Instrument of GovernmentThe Riksbank is a public authority under the Riksdag. The regulations thatapply to the Riksbank’s activities are stipulated, for instance, in theSveriges Riksbank Act and the Instrument of Government. The Instrumentof Government is the part of the constitution that forms the base of ourdemocracy. The Instrument of Government describes how Sweden shall begoverned, the rights of the citizens and how public power is allocated.Chapter 9 of the Instrument of Government contains regulations regarding financial power.Below is a description of the regulations in the chapter concerning the Risbank’s activities. Chapter 9Foreign exchange policySection 12The Government is responsible for general exchange rate policy issues. Other regulationsregarding exchange rate policy are notified in law.The RiksbankSection 13The Riksbank is the national central bank and a public authority under the Riksdag (theSwedish parliament). The Riksbank is responsible for monetary policy. No authority maydetermine the decisions made by the Riksbank on issues relating to monetary policy.The General Council of the Riksbank has eleven members, who are elected by the Riksdag.The Riksbank is led by an Executive Board appointed by the General Council.The Riksdag examines whether the members of the General Council and the Executive Boardof the Riksbank can be discharged from liability. If the Riksdag refuses to discharge amember of the General Council from liability, he or she is thereby relieved of his or herduties. The General Council of the Riksbank has the right to dismiss a member of theExecutive Board only if the member no longer meets the stipulated requirements to be ableto discharge his or her duties or if the member is guilty of gross neglect.Regulations regarding the selection of the General Council members and the Riksbank'sgovernance and activities are laid down in law.Section 14Only the Riksbank has the right to issue banknotes and coins. Regulations on the monetaryand payments systems are otherwise laid down in law.RELATED CONTENTWas this information helpful?  Yes  NoUpdated 26/01/2021The Instrument of Government (in Swedish) The Constitution of Sweden (In Swedish) 

The Instrument of Government

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The Instrument of Government

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