Central bank to transfer billions to treasury

Sweden's central bank said on Monday its general council had proposed to transfer 5.9 billion kronor ($723 million) to the Treasury.

Guidelines are for the Riksbank to transfer 80 percent of the average net income over the preceding five years to the Treasury.

“This year’s transfer is the largest since 2004,” the bank said in a statement.

“This is mainly explained by the substantial fall in bond rates in 2008 which led to considerable profits in connection with the valuation of the Riksbank’s currency reserve.”