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INTERNATIONAL REVIEW ON CASH MANAGEMENT YEAR IV SPECIAL 4-YEAR SUPPLEMENT OCTOBER 2010 Four years of BILLETARIA BILLETARIA was launched in 2006 as an international journal by and for Central Bank Cash (Treasury) Departments and public banknote printing works. Written by specialist cash management professionals, it aims to be a forum for debate, for the exchange of ideas and experience, a place to publish projects, and to share news, innovations and suggestions. Professional rigour and respect are the prerequisites for participation in this open forum which has published more than 75 original articles written by 84 professionals from 34 countries. BILLETARIA, which comes out in April and October each year, is distributed in print format in almost 90 countries (Spanish and English) and is increasingly being requested in electronic form. Past issues can be found in the digital archive in the Publications Section of www.bde.es, and on the websites of several other Central Banks, which we thank for their hospitality. For readers’ convenience we have compiled a summary of the articles, contributors, images and interviews published in BILLETARIA during its first four years, from 2007 through to 2010, the October issue for 2010 being that which includes this “Special supplement”. We hope to continue to receive your support and confidence. Thank you. You can contact us at [email protected] INTERNATIONAL YEAR I REVIEW ON CASH Opinion 2 INTERNATIONAL REVIEW ON CASH MANAGEMENT MANAGEMENT ISSUE 2 OCTOBER 2007 YEAR III ISSUE 5 APRIL 2009 Opinion Editorial 3 Interview with Wolfgang Söffner 6 Strategic plan for cash management 2 3 6 The use of polymer in the banknotes of the Banco de México 2 3 8 Risks and security for the custody of cash The Banco Central do Brasil reports on the various means of implementing the custody of cash 10 Joao S. De Figueiredo. Banco Central do Brasil 13 Manuel Galán. Banco de México Australia’s experience with polymer banknotes Brazil: a different experience João Sidney. Banco Central do Brasil New Zealand’s experience with polymer banknotes 14 Alan Boaden. Reserve Bank of New Zealand Polymer banknotes in Romania 16 Razvan Dumitriu. National Bank of Romania Polymer banknotes: the Chilean experience The Treasury Department of the Banco Central del Uruguay Alfredo Allo. Banco Central del Uruguay 17 Iván Montoya. Banco Central de Chile Polymer banknotes in Vietnam ISSUE 7 The first European country to issue banknotes on a plastic substrate 8 The Banco Central del Uruguay's experience with varnished banknotes 2 3 Alfredo Allo. Banco Central del Uruguay More efficient cash management Prabir Biswas. Independent strategy advisor. Former executive director of the Reserve Bank of India The restructuring of the Banca d'Italia branch network 8 Polymer has been well received in Chile 14 The Bolivian banknote family Walter Orellana. Banco Central de Bolivia The Treasury Department of the Banco Central del Paraguay Pedro Acosta, José Antonio Meza and Fernando Miguel Villalba Banco Central del Paraguay The most traditional technique modernises itself. The present and future of a traditional art Vicenzo Ciaramella. Banca d’Italia 21 Smart solutions for banknote processing 20 22 Technological development in banknote sorting Brazilian banknotes Regis L. A. Rosa and Fabio Bollmann. Banco Central do Brasil Currency Management Directorate of the Banco Central de Reserva del Perú Juan Antonio Ramírez. Banco Central de Reserva del Perú Commemorative euro coins María José Fernández Lupiáñez and J. Darío Negueruela. Banco de España Cash Activities and Technology 25 Guardian® technology starts with the film 26 Bruno Garoffolo and Paul Sientek. Securency International Pty Ltd Polymer and the printing process How polymer is made Alfred Schmidt. Giesecke und Devrient CIGE 27 30 Central banking news 32 Publications devoted to cash 33 Banknote security features Allister McCallum. European Central Bank The importance of forensic work in police investigations 16 The global information campaign in the run-up to the launch of a new banknote The three pillars of the Eurosystem’s fight against counterfeiting of the euro Technical analysis of counterfeits and its role in helping the police CIGE 28 VIth CIGE Miscellaneous 29 30 31 33 34 International events Publications devoted to cash Central banking news Polymer banknote overview Polymer banknote security features Carmen Álamo and Juan Pablo Gamacho. Banco de España The Bank of England’s anti-counterfeiting strategy The Bank of England’s weapons to combat the counterfeiting of sterling 18 Kevin Wills. Bank of England The coin packaging system. An element in the fight against coin counterfeiting in Germany 20 Franz-Josef Behringer. Deutsche Bundesbank Education: a powerful weapon against counterfeiting Standardising coin packaging facilitates counterfeit detection 14 16 Guatemalan Banknotes Jessica Flores. Banco de Guatemala The Banco Central de Nicaragua’s Treasury Subdirectorate Guillermo Selva. Banco Central de Nicaragua El Salvador’s commitment to educating the public about banknotes 20 César Roney. Banco Central de Reserva de El Salvador Anti-counterfeiting measures in the Russian Federation 21 Banknote authentication devices Overview of the measures to defend the rouble from counterfeiters An important tool enabling retailers to verify banknote authenticity 16 Mechanical banknote sorting: an empirical study An investigation into the behaviour of banknote sorting machines 20 Mariano Martínez, Eduardo Kropnick and J. Darío Negueruela. Banco de España Open Main Cashier System Glory's small-scale banknote sorting solution Yoshihiro Akita. Glory Ltd CIGE 22 Francisco Cantero. Investrónica, S.A. Cash Activities and Technology Banknotes and Coins 18 Manufacturing low-denomination banknotes Suggestions for extending the lifetime of low-denomination banknotes 22 Georgy Kornilov. Goznak Digital master die manufacturing system 24 21 22 Víctor Feijoo. Real Casa de la Moneda-Fábrica Nacional de Moneda y Timbre Patenting of new banknote security features Honduran banknotes Geovanny Bulnes. Banco Central de Honduras The Banco Central de la República Argentina’s Treasury Management Department Luis C. Fiore and Silvia A. Vance. Banco Central de la República Argentina Improved technology for coin minting Patents as a leading indicator of future security features VI International Course on Cash Management J. Darío Negueruela. Banco de España Cash Activities and Technology 26 The Bank of Japan’s operations centre in Toda Automation eliminates human intervention in banknote handling Maurice Perron. Former director at the Banque de France 28 Tomoko Kurose. Bank of Japan The final stage of the cash cycle Technology for banknote destruction and waste compaction Polymer banknotes: higher cost but also higher durability Enrique Guarner. Banco de México IV International Course on Cash Management Miscellaneous 28 International events Antti Heinonen. Chairman of the Executive Committee of the CBCDG The education strategy for the United States’ new 100 dollar banknote Lorelei Pagano. United States Federal Reserve System A multilateral approach to the fight against counterfeiting 14 Kari Takala. Bank of Finland The use of international coding standards by central banks Cash Activities and Technology 18 Francisco Lacuesta. Fabrica Nacional de Moneda y Timbre. España 23 10 11 Ángel Camarena and Manuela Sebastián. Banco de España The return to the boliviano Cash dispensers as a tool in promoting the circulation of a currency Gustavo Blacutt. Banco Central de Bolivia A population of 85 million using plastic banknotes Banknotes and Coins The finishing stage of the banknote production process Automation in the finishing stage of the banknote production process Bernardo Calvo. Banco de la República. Colombia Cash deposit systems Pedro Machado and Francisco Javier Priego. Banco de Portugal and Banco de España The Central Bank Counterfeit Deterrence Group’s fight against counterfeiting The CBCDG as an example of cooperation on anti-counterfeiting measures New technologies applied to banknote logistics 12 OCTOBER 2010 Editorial A meeting with Alex Jarvis The European legal framework protecting the euro against counterfeiting: an overview Anti-counterfeiting measures from the legal viewpoint 8 Banknotes and Coins Nguyen Chi Thanh. State Bank of Vietnam Cash activities and Technology 19 Intaglio printing 2 3 6 The Banco de la República’s cash centre Third-party custody of central banks’ banknotes 10 The Banca d'Italia takes a new approach to its territorial structure Clorinda Forte. Banca d'Italia ISSUE 8 Opinion Editorial Interview with Andrew Bailey New facilities to increase security and efficiency Banknotes and Coins 12 INTERNATIONAL REVIEW ON CASH MANAGEMENT YEAR IV The Bank of England’s viewpoint on currency management 6 The importance of cash management today 10 APRIL 2010 Opinion Editorial Antti Heinonen talks to Wolfgang Söffner Polymer cuts central bank costs Helder Rosalino. Banco de Portugal 17 Robert Rankin. Reserve Bank of Australia Results of the circulation trial of a R$10 polymer note commemorating the fifth centenary of the discovery of Brazil 12 Coin cycle management in Portugal The management of coins in the Banco de Portugal adapts to the new European scenario INTERNATIONAL REVIEW ON CASH MANAGEMENT YEAR IV Varnishing paper banknotes to protect them from soiling Two decades of polymer banknotes 11 Banknotes and Coins 15 Colombian banknotes Bernardo Calvo. Banco de la República OCTOBER 2009 Two authorities on cash management talk about the subject from the supranational perspective 6 Polymer: a barrier to counterfeits A general view of the strategic challenges of treasury management Prabir Biswas. Reserve Bank of India ISSUE 6 Opinion Editorial Interview with Manuel Castelhano The former Head of the Treasury and Issue Department of the Banco de Portugal gives us the benefit of his experience The Chief Cashier of the Deutsche Bundesbank shares with us his professional experience INTERNATIONAL REVIEW ON CASH MANAGEMENT YEAR III Miscellaneous 21 24 25 26 International events Publications devoted to cash Central banking news Banknote security features Angelo Kok. Kusters Engineering B.V. CIGE 24 VII International Course on Cash Management CIGE 29 Miscellaneous 25 26 28 30 Publications devoted to cash Central banking news Events Banknote security features 7th International Course on Cash Management – Río de Janeiro Miscellaneous 29 30 31 34 Publications devoted to cash Events Central banking news Banknote security features Structure and organisation Each issue of BILLETARIA follows a standard structure: 1. EDITORIAL and CONTRIBUTORS. Page two includes a short editorial summarising the main contents of the issue it presents, reporting any news of interest, and sometimes, offering some reflections on a general topic concerning the cash world. This page also lists all the contributors involved in the current issue. 2. INTERVIEW. Page three presents an interview with a leading personality with an acknowledged track record in the currency world. Preferably we interview people who have retired from active professional life, as this often makes it possible to talk more comfortably about the field without professional commitments or ties to the institution or firms they worked for or were associated with getting in the way. Thus, while at the same time paying homage to individuals who are an authority in the field and have made a noteworthy contribution to our profession, we offer readers a series of opinions and reflections which we hope they will find of great interest. 3. OPINION ARTICLES. The third section includes a series of articles with opinions from a variety of sources on various issues. In some cases these articles are requested by the editorial team, while in others they are offered spontaneously by their authors, for which we are always extremely grateful. We look for topics of general interest and articles are edited to fit our space constraints, but always respecting the author’s freedom of expression and authorship. 4. LATIN AMERICAN BANKNOTES AND TREASURY DEPARTMENTS. This section reflects the review’s origins and presents details of banknote features and the organisation of Treasury Departments at Central Banks in Latin America, which we have been publishing in alphabetical order by country. Contributions are always requested with the same structure so as to facilitate comparisons by readers. 5. CASH ACTIVITIES AND TECHNOLOGY. For this section we request expert contributions of an organisational, technological and business nature. This section also includes articles from private firms, printing works, paper and equipment manufacturers, who can offer a point of view complementary to that of Central Banks. 6 International Cash Management Course (CIGE). This section is devoted to news about the International Cash Management Course which is run by the Banco de España’s Cash and Issue Department in collaboration with Latin American Central Banks willing to host the event and hold the course in their country. Since its beginnings, the course has been run in Spain, Mexico, Argentina, Colombia, Portugal and Brazil. 7. MISCELLANEOUS. This section includes a series of short items with news, publications and events, illustrating the diverse activities of the cash world. The aim is not to present a catalogue, but show a collection of information sent to us by interested Central Banks. The final pages include a short description of the main banknote security features, an idea that was inspired by the rigorous but ingenious visual banknote analysis offered by the prestigious journal Banknotes of the World. 8. BACK COVER. The back cover bears one of the most significant design elements of BILLETARIA’s image: an old map of the world, of both historical and artistic value. The aim is to underline the journal’s international calling with a collection of early cartographic documents showing all five continents for the first time. 2 BILLETARIA October 2010 Special 4-year supplement Interviews Cronological order Issue Mr. Jaime Pacreu Former General Director of Currency Issue Directorate of the Banco de México Interviewed by: J. Darío Negueruela 1 March 2007 Mr. Wolfgang Söffner Chief Casier of the Deutsche Bundesbank Interviewed by: J. Darío Negueruela 2 October 2007 Mr. Louis O’Byrne Head of the Currency Center of Central Bank & Financial Services Authority of Ireland Interviewed by: J. Darío Negueruela 3 April 2008 Mr. Thomas A. Ferguson Former Director of the Bureau of Engraving and Printing of the United States Interviewed by: Jaime Pacreu 4 October 2008 Mr. Manuel Castelhano Former Head of the Treasury and Issue Department of the Banco de Portugal Interviewed by: J. Darío Negueruela 5 April 2009 6 October 2009 Mr. Andrew Bailey Executive Director Banking & Chief Casier of Bank of England Interviewed by: J. Darío Negueruela 7 April 2010 Mr. Alex Jarvis Former manager of the Bank of England Printing Works Interviewed by: J. Darío Negueruela 8 October 2010 Mr. Antti Heinonen Former Director of the Directorate Banknotes at the European Central Bank, and Chairman of CBCDG Interviewed by: Wolfgang Söffner Date BILLETARIA October 2010 Special 4-year supplement 3 Opinion ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ Cronological order Issue Date Federal Reserve Bank outsourced Cash Depots Laurie Frugé. Federal Reserve Board of Governors. Unites States of America 1 March 2007 Strategic plan for cash management Prabir Biswas. Reserve Bank of India Risks and security for the custody of cash João S. Figueiredo. Banco Central do Brasil Coin cycle management in Portugal Helder Rosalino. Banco de Portugal 2 October 2007 How to manage cash policy in 15 countries? Antti Heinonen. European Central Bank The Eurosystem´s legal competence regarding banknote issuance Pedro Machado. Banco de Portugal Improving banknote and coin statistics: a condition for efficient cash management J. Darío Negueruela. Banco de España 3 April 2008 4 October 2008 The use of polymer in the banknotes of the Banco de México Manuel Galán. Banco de México Australia’s experience with polymer banknotes Robert Rankin. Reserve Bank of Australia Results with circulation trial of a R$10 polymer note commemorating the fifth centenary of the discovery of Brazil João S. Figueiredo. Banco Central do Brasil New Zealand’s experience with polymer banknotes Alan Borden. Reserve Bank of New Zealand Polymer banknotes in Romania Razvan Dumitriu. National Bank of Romania Polymer banknotes: the Chilean experience Iván Montoya. Banco Central de Chile Polymer banknotes in Vietnam Nguyen Chi Thanh. State Bank of Vietnam 5 April 2009 The Banco Central del Uruguay’s experience with varnished banknotes Alfredo Allo. Banco Central del Uruguay More efficient cash management Prabir Biswas. Independent strategy advisor Reorganising the branch network at the Banca d’Italia Clorinda Forte. Banca d’Italia 6 October 2009 The importance of a communication policy on cash in a central bank Manuel Castelhano. Banco de Portugal Cash communication has an encouraging future! Oliver Radelet. European Central Bank The cash-related communication strategy of the Oesterreichische Nationalbank Stefan Augustin y Antono Schautzer. Oesterreichische Nationalbank Digital communication tools Sonja Danburg. Federal Reserve System of the United States Communication on cash is essential for the Banque de France Armand Pujal. Banque de France Surveys on use of banknotes and coins in Mexico Jorge de la Vega. Banco de México Banco de España National Cash Survey María Luisa Leyva. Banco de España How to design a web page on banknotes Wolfgang Söffner. Former Chief Cashier of the Deutsche Bundesbank 4 BILLETARIA October 2010 Special 4-year supplement ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ Cronological order (cont.) Issue The Banco de la República’s cash centre Bernardo Calvo. Banco de la República. Colombia Cash deposit systems Kari Takala. Bank of Finland The use of international coding standards at a central bank Ángel Camarena and Manuela Sebastián. Banco de España The return to the boliviano Gustavo Blacutt. Banco Central de Bolivia The European legal framework protecting the euro against counterfeiting: an overview Javier Priego. Banco de España Pedro Machado. Banco de Portugal The Central Bank Counterfeit Deterrence Group’s fight against counterfeiting Anttii Heinonen. Executive Committee of the CBCDG The education strategy for the United States’ new 100 dollar banknote Lorelei Pagano. United States Federal Reserve System A multilateral approach to the fight against counterfeiting Allister McCallum. European Central Bank The importance of forensic work in police investigations Carmen Álamo and Juan Pablo Garnacho. Banco de España The Bank of England’s anti-counterfeiting strategy Kevin Wills. Bank of England The coin packaging system. An element in the fight against coin counterfeiting in Germany Franz-Josef Behringer. Deutsche Bundesbank Education: a powerful weapon against counterfeiting César Roney. Banco Central de Reserva de El Salvador Anti-counterfeiting measures in the Russian Federation Overview of the measures to defend the rouble from counterfeiters Banknote authentication devices Francisco Cantero. Investrónica, S.A. Date 7 April 2010 8 October 2010 BILLETARIA October 2010 Special 4-year supplement 5 Billetaria covers INTERNATIONAL YEAR I REVIEW ON CASH MANAGEMENT ISSUE 2 Opinion 2 OCTOBER 2007 Editorial 3 Interview with Wolfgang Söffner 6 Strategic plan for cash management The Chief Cashier of the Deutsche Bundesbank shares with us his professional experience A general view of the strategic challenges of treasury management Prabir Biswas. Reserve Bank of India 11 Risks and security for the custody of cash The Banco Central do Brasil reports on the various means of implementing the custody of cash Joao S. De Figueiredo. Banco Central do Brasil 13 Coin cycle management in Portugal The management of coins in the Banco de Portugal adapts to the new European scenario Helder Rosalino. Banco de Portugal Banknotes and Coins 15 Colombian banknotes Bernardo Calvo. Banco de la República 17 The Treasury Department of the Banco Central del Uruguay Alfredo Allo. Banco Central del Uruguay Cash activities and Technology 19 Intaglio printing The most traditional technique modernises itself. The present and future of a traditional art Vicenzo Ciaramella. Banca d’Italia 21 The finishing stage of the banknote production process Automation in the finishing stage of the banknote production process Francisco Lacuesta. Fabrica Nacional de Moneda y Timbre. España 23 Smart solutions for banknote processing Technological development in banknote sorting Alfred Schmidt. Giesecke und Devrient CIGE 27 IV International Course on Cash Management Miscellaneous 28 International events 6 BILLETARIA October 2010 Special 4-year supplement 30 Central banking news 32 Publications devoted to cash 33 Banknote security features INTERNATIONAL REVIEW ON CASH MANAGEMENT YEAR III ISSUE 5 APRIL 2009 INTERNATIONAL REVIEW ON CASH MANAGEMENT YEAR III Opinion 2 3 ISSUE 6 Opinion Editorial Interview with Manuel Castelhano 2 3 The former Head of the Treasury and Issue Department of the Banco de Portugal gives us the benefit of his experience 6 10 6 The use of polymer in the banknotes of the Banco de México The Banco Central del Uruguay's experience with varnished banknotes Varnishing paper banknotes to protect them from soiling Manuel Galán. Banco de México Australia’s experience with polymer banknotes 8 Alfredo Allo. Banco Central del Uruguay More efficient cash management Two decades of polymer banknotes The importance of cash management today Robert Rankin. Reserve Bank of Australia Results of the circulation trial of a R$10 polymer note commemorating the fifth centenary of the discovery of Brazil Prabir Biswas. Independent strategy advisor. Former executive director of the Reserve Bank of India The restructuring of the Banca d'Italia branch network 10 Brazil: a different experience 12 Editorial Antti Heinonen talks to Wolfgang Söffner Two authorities on cash management talk about the subject from the supranational perspective Polymer: a barrier to counterfeits 8 OCTOBER 2009 The Banca d'Italia takes a new approach to its territorial structure João Sidney. Banco Central do Brasil New Zealand’s experience with polymer banknotes Clorinda Forte. Banca d'Italia Polymer cuts central bank costs 14 Alan Boaden. Reserve Bank of New Zealand Polymer banknotes in Romania Banknotes and Coins The first European country to issue banknotes on a plastic substrate 16 12 Razvan Dumitriu. National Bank of Romania Polymer banknotes: the Chilean experience 14 Polymer has been well received in Chile 17 Iván Montoya. Banco Central de Chile Polymer banknotes in Vietnam The Bolivian banknote family Walter Orellana. Banco Central de Bolivia The Treasury Department of the Banco Central del Paraguay Pedro Acosta, José Antonio Meza and Fernando Miguel Villalba Banco Central del Paraguay A population of 85 million using plastic banknotes Nguyen Chi Thanh. State Bank of Vietnam Cash Activities and Technology Banknotes and Coins 18 20 22 16 Brazilian banknotes Regis L. A. Rosa and Fabio Bollmann. Banco Central do Brasil Currency Management Directorate of the Banco Central de Reserva del Perú Juan Antonio Ramírez. Banco Central de Reserva del Perú Commemorative euro coins María José Fernández Lupiáñez and J. Darío Negueruela. Banco de España 20 25 Mariano Martínez, Eduardo Kropnick and J. Darío Negueruela. Banco de España Open Main Cashier System Glory's small-scale banknote sorting solution Yoshihiro Akita. Glory Ltd Cash Activities and Technology CIGE Guardian® technology starts with the film 22 How polymer is made 26 Mechanical banknote sorting: an empirical study An investigation into the behaviour of banknote sorting machines Bruno Garoffolo and Paul Sientek. Securency International Pty Ltd Polymer and the printing process VI International Course on Cash Management J. Darío Negueruela. Banco de España Polymer banknotes: higher cost but also higher durability Enrique Guarner. Banco de México Miscellaneous 21 24 25 26 CIGE 28 VIth CIGE Miscellaneous 29 30 31 33 34 International events Publications devoted to cash Central banking news Polymer banknote overview Polymer banknote security features INTERNATIONAL REVIEW ON CASH MANAGEMENT YEAR IV ISSUE 7 APRIL 2010 Opinion 2 3 INTERNATIONAL REVIEW ON CASH MANAGEMENT YEAR IV ISSUE 8 6 The Banco de la República’s cash centre 8 Bernardo Calvo. Banco de la República. Colombia Cash deposit systems 2 3 6 8 Pedro Machado and Francisco Javier Priego. Banco de Portugal and Banco de España The Central Bank Counterfeit Deterrence Group’s fight against counterfeiting The CBCDG as an example of cooperation on anti-counterfeiting measures 10 Antti Heinonen. Chairman of the Executive Committee of the CBCDG The education strategy for the United States’ new 100 dollar banknote 11 Lorelei Pagano. United States Federal Reserve System A multilateral approach to the fight against counterfeiting The global information campaign in the run-up to the launch of a new banknote Third-party custody of central banks’ banknotes Kari Takala. Bank of Finland The use of international coding standards by central banks Editorial A meeting with Alex Jarvis The European legal framework protecting the euro against counterfeiting: an overview Anti-counterfeiting measures from the legal viewpoint New facilities to increase security and efficiency The three pillars of the Eurosystem’s fight against counterfeiting of the euro New technologies applied to banknote logistics 12 OCTOBER 2010 Opinion Editorial Interview with Andrew Bailey The Bank of England’s viewpoint on currency management 10 International events Publications devoted to cash Central banking news Banknote security features Ángel Camarena and Manuela Sebastián. Banco de España The return to the boliviano 14 Cash dispensers as a tool in promoting the circulation of a currency 16 Allister McCallum. European Central Bank The importance of forensic work in police investigations Technical analysis of counterfeits and its role in helping the police Carmen Álamo and Juan Pablo Gamacho. Banco de España The Bank of England’s anti-counterfeiting strategy The Bank of England’s weapons to combat the counterfeiting of sterling Gustavo Blacutt. Banco Central de Bolivia 18 Kevin Wills. Bank of England The coin packaging system. An element in the fight against coin counterfeiting in Germany Standardising coin packaging facilitates counterfeit detection Banknotes and Coins 20 14 16 Guatemalan Banknotes Jessica Flores. Banco de Guatemala The Banco Central de Nicaragua’s Treasury Subdirectorate Guillermo Selva. Banco Central de Nicaragua Franz-Josef Behringer. Deutsche Bundesbank Education: a powerful weapon against counterfeiting El Salvador’s commitment to educating the public about banknotes 20 César Roney. Banco Central de Reserva de El Salvador Anti-counterfeiting measures in the Russian Federation 21 Banknote authentication devices Overview of the measures to defend the rouble from counterfeiters An important tool enabling retailers to verify banknote authenticity Francisco Cantero. Investrónica, S.A. Cash Activities and Technology 18 21 Manufacturing low-denomination banknotes Banknotes and Coins Suggestions for extending the lifetime of low-denomination banknotes 22 Georgy Kornilov. Goznak Digital master die manufacturing system 24 Honduran banknotes Geovanny Bulnes. Banco Central de Honduras The Banco Central de la República Argentina’s Treasury Management Department Luis C. Fiore and Silvia A. Vance. Banco Central de la República Argentina Improved technology for coin minting 22 Víctor Feijoo. Real Casa de la Moneda-Fábrica Nacional de Moneda y Timbre Patenting of new banknote security features Patents as a leading indicator of future security features Cash Activities and Technology 26 The Bank of Japan’s operations centre in Toda Automation eliminates human intervention in banknote handling Maurice Perron. Former director at the Banque de France 28 Tomoko Kurose. Bank of Japan The final stage of the cash cycle Technology for banknote destruction and waste compaction Angelo Kok. Kusters Engineering B.V. CIGE 24 VII International Course on Cash Management CIGE 29 Miscellaneous 25 26 28 30 Publications devoted to cash Central banking news Events Banknote security features 7th International Course on Cash Management – Río de Janeiro Miscellaneous 29 30 31 34 Publications devoted to cash Events Central banking news Banknote security features BILLETARIA October 2010 Special 4-year supplement 7 Banknotes and Coins ■ ■ ■ ■ ■ ■ ■ ■ ■ Cronological order Issue Date Argentinian bankonotes Luís Fiore. Banco Central de la República Argentina 1 March 2007 Colombian banknotes Bernardo Calvo. Banco de la República 2 October 2007 Costa Rican banknotes Ricardo Rodríguez. Banco Central de Costa Rica 3 April 2008 Cuban banknotes Raquel Cabrera. Banco Central de Cuba 4 October 2008 Brazilian banknotes Regis L. A. Rosa y Fabio Bollmann. Banco Central do Brasil Commemorative euro coins María José Fernández Lupiáñez and J. Darío Negueruela. Banco de España 5 April 2009 The Bolivian banknote family Walter Orellana. Banco Central de Bolivia 6 October 2009 Guatemalan Banknotes Jessica Flores. Banco de Guatemala 7 April 2010 Honduran banknotes Geovanny Bulnes. Banco Central de Honduras 8 October 2010 8 BILLETARIA October 2010 Special 4-year supplement Departments ■ ■ ■ ■ ■ ■ ■ ■ Cronological order Issue Date The Cash Department of the Banco Central de Venezuela Egidio Coelho. Banco Central de Venezuela 1 March 2007 The Treasury Department of the Banco Central del Uruguay Alfredo Allo. Banco Central del Uruguay 2 October 2007 The Issue and Custody Department of the Banco Central de la República Dominicana Cristian A. Cuesta. Banco Central de la República Dominicana 3 April 2008 Treasury and Issue Department of the Banco de Portugal Hélder Rosalino. Banco de Portugal 4 October 2008 Currency Management Directorate of the Banco Central de Reserva del Perú Juan Antonio Ramírez. Banco Central de Reserva del Perú 5 April 2009 The Treasury Department of the Banco Central del Paraguay Pedro Acosta, José Antonio Meza and Fernando Miguel Villalba. Banco Central del Paraguay 6 October 2009 The Banco Central de Nicaragua’s Treasury Subdirectorate Guillermo Selva. Banco Central de Nicaragua 7 April 2010 The Banco Central de la República Argentina’s Treasury Management Department Luis C. Fiore and Silvia A. Vance. Banco Central de la República Argentina 8 October 2010 BILLETARIA October 2010 Special 4-year supplement 9 BILLETARIA maps BILLETARIA 1. Planisphere. Van Schagen. Amsterdam, 1689. BILLETARIA 2. Carte Universelle Hydrografique. Jean Gerard, 1634. BILLETARIA 3. Typus Orbis Universalis. S. Munster, 1554. BILLETARIA 4. Juan de la Cosa´s map, 1500. Madrid Naval Museum. 10 BILLETARIA October 2010 Special 4-year supplement BILLETARIA 5. The Piri Reis world map, 1513. Topkapi Sarayi Museum, Istanbul (Turkey). BILLETARIA 6. Mappe-Monde. G. de l´Isle. Paris. 1707. BILLETARIA 7. Nautical chart number 84 from the Zee Atlas. Gerard van Keulen. Amsterdam, 1709. Centro Nacional de Información Geográfica. Ministry of Public Works. Spain. BILLETARIA 8. De Zee-Atlas oft Water-Weerelend. Pieter Goos, 1666. Library of the Banco de España. Madrid. BILLETARIA October 2010 Special 4-year supplement 11 Cash Activities and Technology ■ ■ Cronological order The Motion thread Fernando León. Banco de España The Laboratory of Research and Quality Control of the Banco de México Germán Romero Uscanga. Banco de México The Banco de España counterfeit currency database Víctor Andrés. Banco de España Issue Date 1 March 2007 ■ Intaglio printing Vincenzo Ciaramella. Banca d’Italia Finishing stage of the banknote production process Francisco Lacuesta. Real Casa de la Moneda-FNMT. Spain G&D smart solutions for banknote processing Alfred Schmidt. Giesecke und Devrient 2 October 2007 ■ The note quality reward scheme Michael Andersen. Reserve Bank of Australia The world-class cash operation Ed Brindley. De la Rue International Ltd. 3 April 2008 ■ Holograms Eduardo kropnick and Fernando León. Banco de España Toshiba’s banknote processing machines Masahiro Takagi. Toshiba Europe GmbH 4 October 2008 ■ Guardian® technology starts with the film Bruno Garoffolo and Paul Sientek. Securency International Pty Ltd. Polymer and the printing process Enrique Guarner. Banco de México 5 April 2009 ■ Mechanical banknote sorting: an empirical study Mariano Martínez, Eduardo Kropnick and J. Darío Negueruela. Banco de España Open Main Cashier System Yoshihiro Akita. Glory Ltd. 6 October 2009 ■ Production of low-denomination banknotes Georgy Kornilov. Goznak Digital master die manufacturing system Víctor Feijoo. Real Casa de la Moneda-FNMT. Spain Patenting of new banknote security features Maurice Perron. Former director at the Banque de France 7 April 2010 ■ The Bank of Japan’s operations centre in Toda Tomoko Kurose. Bank of Japan The final stage of the cash cycle Angelo Kok. Kusters Engineering B.V. 8 October 2010 ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ 12 BILLETARIA October 2010 Special 4-year supplement CIGE CIGE IV V VI VII BILLETARIA issue 1 and 2 3 and 4 5 and 6 7 and 8 Date March 2007 October 2007 April 2008 October 2008 April 2009 October 2009 April 2010 October 2010 Course venue Bogotá, Colombia Lisbon, Portugal Madrid, Spain Rio de Janeiro, Brazil Miscellaneous Section BILLETARIA issue International events 2, 3, 4, 5, 6, 7 and 8 Central banking news 1, 2, 3, 4, 5, 6, 7 and 8 Publications devoted to cash 2, 3, 4, 5, 6, 7 and 8 Banknote security features 2, 3, 4, 6, 7 and 8 Polymer banknote overview 5 Polymer banknote security features 5 BILLETARIA October 2010 Special 4-year supplement 13 Contributors Acosta, Pedro National Operations Manager Banco Central del Paraguay. No. 6 Cabrera, Raquel Expert of the Issue and Valuables Department Banco Central de Cuba. No. 4 Frugé, Laurie Federal Reserve Board of Governors. United States of America. No. 1 Akita, Yoshihiro Manager Overseas Business Planning Department Glory Ltd. No. 6 Calvo, Bernardo Director of the Treasury Department Banco de la República. Colombia. Nos. 1, 2 and 7 Galán, Manuel General Director of Currency Issue Directorate Banco de México. No. 5 Camarena, Ángel Head of the Cash Division Banco de España. No. 7 Garnacho, Juan Pablo Expert at the National Analysis Center Banco de España. No. 8 Cantero, Francisco Product Manager for Secureuro Investrónica, S.A. No. 8 Garoffolo, Bruno Marketing Manager Securency Internacional Pty Ltd. No. 5 Castelhano, Manuel Director of the Treasury and Issue Department Banco de Portugal. No. 4 Guarner, Enrique Manager of Banknote Printing Works Banco de México. No. 5 Chi Thanh, Nguyen Director of Issue and Vault Department State Bank of Vietnam. No. 5 Heinonen, Antti Former Director of the ECB Banknotes Directorate and Chairman of the Executive Committee of the CBCDG. Nos. 3, 6 and 8 Álamo, Carmen Expert at the National Analysis Center Banco de España. No. 8 Allo, Alfredo Chief of the Treasury Department Banco Central del Uruguay. Nos. 2 and 6 Andersen, Michael Head of Note Issue Reserve Bank of Australia. No. 3 Andonegui, M. Eulalia CIGE Coordinator Banco de España. No. 3 Andrés, Víctor Head of the Eurosystem Currency Unit Banco de España. No. 1 Augustin, Stefan Director of the Cashier’s Division and Branch Offices Oesterreichische Nationalbank. No. 4 Bailey, Andrew Executive Director Banking & Chief Cashier Bank of England. No. 7 Barrera, Yolanda Photographer Nos. 4, 5, 6, 7 and 8 Behringer, Franz-Josef Head of the Issue Division in the Cash Department Deutsche Bundesbank. No. 8 Biswas, Prabir Indepedent strategy advisor Former Executive Director of the Reserve Bank of India. Nos. 2 and 6 Blacutt, Gustavo Director Banco Central de Bolivia. No. 7 Boaden, Alan Head of Currency Department Reserve Bank of New Zealand. No. 5 Bollman, Fabio Banknote and Coin Design Coordinator of Currency Management Department Banco do Brasil. No. 5 Brindley, Ed Head of Pre-Sales and Product Management De La Rue Internacional Ltd. No. 3 Bulnes, Geovanny Head of the Issue and Treasury Department Banco Central de Honduras. No. 8 Ciaramella, Vincenzo Deputy Chief of the Printing Works Banca D’Italia. No. 2 Coelho, Egidio Treasury Manager Banco Central de Venezuela. No. 1 Cuesta, Cristian A. Director of the Issue and Custody Department Banco Central de la República Dominicana. No. 3 Danburg, Sonja Financial Analyst Federal Reserve System of the United States. No. 4 Dumitriu, Razvan Senior Expert of Issue Treasury & Cash Management Department National Bank of Romania. No. 5 Feijoo, Víctor Head of Engineering in the Coin Department Real Casa de la Moneda-FNMT. España. No. 7 Ferguson, Thomas A. Former Director of the Bureau of Engraving and Printing of the United States. No. 4 Fernández, M. José Head of the Resources Division Banco de España. No. 5 Figueiredo, João S. Head of Currency Management Department Banco do Brasil. Nos. 2 and 5 Fiore, Luis C. Treasury Manager Banco Central de la República Argentina. Nos. 1 and 8 Flores, Jessica Expert in the Monetary Issue Department Banco de Guatemala. No. 7 Forte, Clorinda Deputy Head of Division of the General Currency Department Banca D’Italia. No. 6 14 BILLETARIA October 2010 Special 4-year supplement Hils, Claudio Photographer and communications designer M. der D. Fotografischen Akademie. No. 2 Jarvis, Alex Former manager of the Printing Works Bank of England. No. 8 Kok, Angelo Director of the Sales Department Kusters Engineering B.V. No. 8 Kornilov, Georgy International Cooperation Department Goznak. No. 7 Kropnick, Eduardo Head of the Technical Advice Unit Banco de España. Nos. 4 and 6 Kurose, Tomoko Director of International Affairs and Currency Counterfeiting Deterrence Bank of Japan. No. 8 L. A. Rosa, Regis Advisor of Currency Management Department Banco Central do Brasil. No. 5 Lacuesta, Francisco Head of the Production Service Real Casa de la Moneda-FNMT. España. No. 2 León, Fernando Head of the International Currency Unit Banco de España. Nos. 1, 2 and 4 Leyva, María Luisa Head of the International Currency Division Banco de España. Nos. 1 and 4 Machado, Pedro Legal Advisor Banco de Portugal. Nos. 3 and 8 Martínez, Mariano Head of the Counting and Sorting Unit Banco de España. No. 6 McCallum, Allister Head of the Anti-Counterfeiting Section European Central Bank. No. 8 Meza, José Antonio Director of the Treasury Department Banco Central del Paraguay. No. 6 Montoya, Iván Manager of Banknotes and Coins Banco Central de Chile. No. 5 Negueruela, J. Darío Director of the Cash and Issue Department Banco de España. Nos. 1, 2, 3, 4, 5, 6, 7 and 8 O’Byrne, Louis Head of the Currency Center Central Bank & Financial Services Authority of Ireland. No. 3 Orellana, Walter Monetary Operations Manager Banco Central de Bolivia. No. 6 Radelet, Olivier Principal Project Manager for Banknote and Coins Communication European Central Bank. No. 4 Ramírez, Juan Antonio Manager of Currency Management Directorate Banco Central de Reserva del Perú. No. 5 Sientek, Paul Director of Operations and Head of Poly TeQ Services. Securency Int. Pty Ltd. No. 5 Söffner, Wolfgang Former Chief Cashier of the Deutsche Bundesbank Nos. 2, 4 and 6 Takagi, Mashiro Head of Electronics Systems Operation Toshiba Europa GMBH. No. 4 Rankin, Robert Assistant of Governor (Currency) Reserve Bank of Australia. No. 5 Takala, Kari Advisor in the Cash Department Bank of Finland. No. 7 Rodríguez, Ricardo Director of the Treasury Department Banco Central de Costa Rica. No. 3 Romero, Germán Laboratory of Research and Quality Control Banco de México. No. 1 Roney, César Head of the Treasury Department Banco Central de Reserva de El Salvador. No. 8 Pacreu, Jaime Advisor of the Pacific RIM Banknote Printers’ Conference. Nos. 1 and 4 Rosalino, Hélder Deputy Director of the Treasure and Issue Department Banco de Portugal. Nos. 2 and 4 Pagano, Lorelei Director of Currency Federal Reserve System of the United States. No. 8 Schautzer, Anton Expert Oesterreichische Nationalbank. No. 4 Perron, Maurice Former Director Banque de France. No. 7 Schmidt, Alfred Chief of the Banknote Processing Department Giesecke & Devrient. No. 2 Priego, Francisco Javier Director of the Legal Department Banco de España. No. 8 Sebastián, Manuela Head of the Issue Division Banco de España. No. 7 Pujal, Armand Chief Cashier Banque de France. No. 4 Selva, Guillermo Treasury Sub-Manager Banco Central de Nicaragua. No. 7 Tarantino, Antonio Photographer No. 3 Vance, Silvia A. Deputy Treasury Manager Banco Central de la República Argentina. No. 8 Vega, Jorge de la Issue Planning and Organization Manager Banco de México. No. 4 Villalba, Fernando Miguel Deputy Treasurer for Banks and Deposit Accounts Control Banco Central del Paraguay. No. 6 Viñals, José Deputy Gobernor Banco de España. No. 1 Wills, Kevin Director of the Anti-Counterfeiting Strategy Bank of England. No. 8 BILLETARIA October 2010 Special 4-year supplement 15 Escaping criticism. Pere Borrell del Caso. 1874. Banco de España Art Collection. B I L L E TA R I A B I L L E TA R I A BILLETARIA October 2010. Special 4-year supplement Publisher Banco de España / Cash and Issue Department www.bde.es Editorial Committe J. Darío Negueruela Manuel Galán Wolfgang Söffner Luis Fiore Editorial Staff María Luisa Leyva Víctor Andrés Fernando León María Eulalia Andonegui José Moreno Special Advisors Bernardo Calvo Hélder Rosalino Secretariat Cash and Issue Department, Banco de España Alcalá, 522 28027 Madrid Tel.: +34 91 338 6310 Fax: +34 91 338 6887 Reproduction of the content of BILLETARIA in whole or in part is permitted, provided the source is acknowledged. For subscriptions and contributions, please contact: [email protected] © Banco de España Legal deposit: M-45.124-2010 Printed in Spain, by Artes Gráficas Palermo, S.L.
