the position of the riksbank as a central bank dates back to 1897, when the first riksbank act was accepted concurrently with a law giving the riksbank the exclusive right to issue bank-notes. this copyright concluded its role and importance regarding monetary policy in a modern sense, as the exclusive right to issue notes is a condition when conducting monetary policy and defending the value of a currency. behind the decision were repeated demands that the private banks should cease to issue notes as it was considered that the ensuing profits should befall the general public.