four years of billetaria - banco de españa · four years of billetaria...

Four years of BILLETARIABILLETARIA was launched in 2006 as an international journal byand for Central Bank Cash (Treasury) Departments and publicbanknote printing works. Written by specialist cash managementprofessionals, it aims to be a forum for debate, for the exchangeof ideas and experience, a place to publish projects, and to sharenews, innovations and suggestions.

Professional rigour and respect are the prerequisites for partici-pation in this open forum which has published more than 75 orig-inal articles written by 84 professionals from 34 countries.

BILLETARIA, which comes out in April and October each year, isdistributed in print format in almost 90 countries (Spanish andEnglish) and is increasingly being requested in electronic form.Past issues can be found in the digital archive in the PublicationsSection of www.bde.es, and on the websites of several other Cen-tral Banks, which we thank for their hospitality.

For readers’ convenience we have compiled a summary of the ar-ticles, contributors, images and interviews published in BILLETARIAduring its first four years, from 2007 through to 2010, the Octoberissue 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]

I N T E R N A T I O N A L R E V I E W O N C A S H M A N A G E M E N T

YEAR IV SPECIAL 4-YEAR SUPPLEMENT OCTOBER 2010


YEAR I ISSUE 2 OCTOBER 2007

Opinion2 Editorial

3 Interview with Wolfgang SöffnerThe Chief Cashier of the Deutsche Bundesbank shares with us his professional experience

6 Strategic plan for cash managementA general view of the strategic challenges of treasury management

Prabir Biswas. Reserve Bank of India

11 Risks and security for the custody of cashThe 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 PortugalThe management of coins in the Banco de Portugal adapts to the new European scenario

Helder Rosalino. Banco de Portugal

Banknotes and Coins15 Colombian banknotes

Bernardo Calvo. Banco de la República

17 The Treasury Department of the Banco Central del UruguayAlfredo Allo. Banco Central del Uruguay

Cash activities and Technology19 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 processAutomation in the finishing stage of the banknote production process

Francisco Lacuesta. Fabrica Nacional de Moneda y Timbre. España

23 Smart solutions for banknote processingTechnological development in banknote sorting

Alfred Schmidt. Giesecke und Devrient

CIGE27 IV International Course on Cash Management

Miscellaneous28 International events

30 Central banking news

32 Publications devoted to cash

33 Banknote security features


YEAR III ISSUE 5 APRIL 2009

Opinion 2 Editorial 3 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

6 The use of polymer in the banknotes of the Banco de México Polymer: a barrier to counterfeits Manuel Galán. Banco de México 8 Australia’s experience with polymer banknotes Two decades of polymer banknotes Robert Rankin. Reserve Bank of Australia 10 Results of the circulation trial of a R$10 polymer note commemorating the fifth

centenary of the discovery of Brazil Brazil: a different experience João Sidney. Banco Central do Brasil 12 New Zealand’s experience with polymer banknotes Polymer cuts central bank costs Alan Boaden. Reserve Bank of New Zealand 14 Polymer banknotes in Romania The first European country to issue banknotes on a plastic substrate Razvan Dumitriu. National Bank of Romania 16 Polymer banknotes: the Chilean experience Polymer has been well received in Chile Iván Montoya. Banco Central de Chile 17 Polymer banknotes in Vietnam A population of 85 million using plastic banknotes Nguyen Chi Thanh. State Bank of Vietnam

Banknotes and Coins 18 Brazilian banknotes Regis L. A. Rosa and Fabio Bollmann. Banco Central do Brasil 20 Currency Management Directorate of the Banco Central de Reserva del Perú Juan Antonio Ramírez. Banco Central de Reserva del Perú 22 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 How polymer is made Bruno Garoffolo and Paul Sientek. Securency International Pty Ltd 26 Polymer and the printing process Polymer banknotes: higher cost but also higher durability Enrique Guarner. Banco de México

CIGE 28 VIth CIGE

Miscellaneous 29 International events 30 Publications devoted to cash 31 Central banking news 33 Polymer banknote overview 34 Polymer banknote security features


YEAR III ISSUE 6 OCTOBER 2009

Opinion

2 Editorial

3 Antti Heinonen talks to Wolfgang Söffner Two authorities on cash management talk about the subject from the supranational perspective

6 The Banco Central del Uruguay's experience with varnished banknotes Varnishing paper banknotes to protect them from soiling

Alfredo Allo. Banco Central del Uruguay

8 More efficient cash management The importance of cash management today

Prabir Biswas. Independent strategy advisor. Former executive director of the Reserve Bank of India

10 The restructuring of the Banca d'Italia branch network The Banca d'Italia takes a new approach to its territorial structure

Clorinda Forte. Banca d'Italia

Banknotes and Coins

12 The Bolivian banknote family Walter Orellana. Banco Central de Bolivia

14 The Treasury Department of the Banco Central del Paraguay Pedro Acosta, José Antonio Meza and Fernando Miguel Villalba

Banco Central del Paraguay

Cash Activities and Technology

16 Mechanical banknote sorting: an empirical study An investigation into the behaviour of banknote sorting machines

Mariano Martínez, Eduardo Kropnick and J. Darío Negueruela. Banco de España

20 Open Main Cashier SystemGlory's small-scale banknote sorting solution

Yoshihiro Akita. Glory Ltd

CIGE 22 VI International Course on Cash Management J. Darío Negueruela. Banco de España

Miscellaneous

21 International events





YEAR IV ISSUE 7 APRIL 2010

Opinion

2 Editorial

3 Interview with Andrew Bailey The Bank of England’s viewpoint on currency management

6 The Banco de la República’s cash centre New facilities to increase security and efficiency

Bernardo Calvo. Banco de la República. Colombia

8 Cash deposit systems Third-party custody of central banks’ banknotes

Kari Takala. Bank of Finland

10 The use of international coding by central banksNew technologies applied to banknote logistics

Ángel Camarena and Manuela Sebastián. Banco de España

12 The return to the bolivianoCash dispensers as a tool in promoting the circulation of a currency

Gustavo Blacutt. Banco Central de Bolivia

Banknotes and Coins

14 Guatemalan Banknotes Jessica Flores. Banco de Guatemala

16 The Banco Central de Nicaragua’s Treasury Subdirectorate Guillermo Selva. Banco Central de Nicaragua


18 Manufacturing low-denomination banknotesSuggestions for extending the lifetime of low-denomination banknotes

Georgy Kornilov. Goznak

21 Digital master die manufacturing systemImproved technology for coin minting

Víctor Feijoo. Real Casa de la Moneda-Fábrica Nacional de Moneda y Timbre

22 Patenting of new banknote security featuresPatents as a leading indicator of future security features

Maurice Perron. Former director at the Banque de France

CIGE 24 VII International Course on Cash Management

Miscellaneous



28 Events


standards


YEAR IV ISSUE 8 OCTOBER 2010

Opinion2 Editorial

3 A meeting with Alex Jarvis

6 The European legal framework protecting the euro against counterfeiting: an overviewAnti-counterfeiting measures from the legal viewpoint

Pedro Machado and Francisco Javier Priego. Banco de Portugal and Banco de España

8 The Central Bank Counterfeit Deterrence Group’s fight against counterfeitingThe CBCDG as an example of cooperation on anti-counterfeiting measures

Antti Heinonen. Chairman of the Executive Committee of the CBCDG

10 The education strategy for the United States’ new 100 dollar banknoteThe global information campaign in the run-up to the launch of a new banknote

Lorelei Pagano. United States Federal Reserve System

11 A multilateral approach to the fight against counterfeitingThe three pillars of the Eurosystem’s fight against counterfeiting of the euro

Allister McCallum. European Central Bank

14 The importance of forensic work in police investigationsTechnical analysis of counterfeits and its role in helping the police

Carmen Álamo and Juan Pablo Gamacho. Banco de España

16 The Bank of England’s anti-counterfeiting strategyThe Bank of England’s weapons to combat the counterfeiting of sterling

Kevin Wills. Bank of England

18 The coin packaging system. An element in the fight against coin counterfeiting in GermanyStandardising coin packaging facilitates counterfeit detection

Franz-Josef Behringer. Deutsche Bundesbank

20 Education: a powerful weapon against counterfeitingEl Salvador’s commitment to educating the public about banknotes

César Roney. Banco Central de Reserva de El Salvador

20 Anti-counterfeiting measures in the Russian FederationOverview of the measures to defend the rouble from counterfeiters

21 Banknote authentication devicesAn important tool enabling retailers to verify banknote authenticity

Francisco Cantero. Investrónica, S.A.

Banknotes and Coins22 Honduran banknotes

Geovanny Bulnes. Banco Central de Honduras

24 The Banco Central de la República Argentina’s Treasury Management DepartmentLuis C. Fiore and Silvia A. Vance. Banco Central de la República Argentina

Cash Activities and Technology26 The Bank of Japan’s operations centre in Toda

Automation eliminates human intervention in banknote handling

Tomoko Kurose. Bank of Japan

28 The final stage of the cash cycleTechnology for banknote destruction and waste compaction

Angelo Kok. Kusters Engineering B.V.

CIGE29 7th International Course on Cash Management – Río de Janeiro

Miscellaneous29 Publications devoted to cash

30 Events



SUPLEMENTO_INGLES:Maquetación 1 24/11/10 15:52 Página 1

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 pres-ents, 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 cur-rency world. Preferably we interview people who have retired from active professional life, as this often makes it possibleto talk more comfortably about the field without professional commitments or ties to the institution or firms they workedfor or were associated with getting in the way. Thus, while at the same time paying homage to individuals who are an au-thority in the field and have made a noteworthy contribution to our profession, we offer readers a series of opinions andreflections 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 variousissues. In some cases these articles are requested by the editorial team, while in others they are offered spontaneouslyby their authors, for which we are always extremely grateful. We look for topics of general interest and articles are editedto 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 presentsdetails of banknote features and the organisation of Treasury Departments at Central Banks in Latin America, which wehave been publishing in alphabetical order by country. Contributions are always requested with the same structure so asto facilitate comparisons by readers.

5. CASH ACTIVITIES AND TECHNOLOGY. For this section we request expert contributions of an organisational, technologicaland business nature. This section also includes articles from private firms, printing works, paper and equipment manu-facturers, 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 Manage-ment Course which is run by the Banco de España’s Cash and Issue Department in collaboration with Latin American Cen-tral Banks willing to host the event and hold the course in their country. Since its beginnings, the course has been run inSpain, Mexico, Argentina, Colombia, Portugal and Brazil.

7. MISCELLANEOUS. This section includes a series of short items with news, publications and events, illustrating the diverseactivities of the cash world. The aim is not to present a catalogue, but show a collection of information sent to us byinterested Central Banks. The final pages include a short description of the main banknote security features, an idea thatwas inspired by the rigorous but ingenious visual banknote analysis offered by the prestigious journal Banknotes of theWorld.

8. BACK COVER. The back cover bears one of the most significant design elements of BILLETARIA’s image: an old map ofthe world, of both historical and artistic value. The aim is to underline the journal’s international calling with a collection ofearly cartographic documents showing all five continents for the first time.

Structure and organisation

2 BILLETARIA October 2010 Special 4-year supplement


BILLETARIA October 2010 Special 4-year supplement 3

Interviews

Cronological order Issue Date

Mr. Jaime PacreuFormer General Director of Currency Issue Directorate of the Banco de México 1 March 2007Interviewed by: J. Darío Negueruela

Mr. Wolfgang SöffnerChief Casier of the Deutsche Bundesbank 2 October 2007Interviewed by: J. Darío Negueruela

Mr. Louis O’ByrneHead of the Currency Center of Central Bank & Financial Services Authority of Ireland 3 April 2008Interviewed by: J. Darío Negueruela

Mr. Thomas A. FergusonFormer Director of the Bureau of Engraving and Printing of the United States 4 October 2008Interviewed by: Jaime Pacreu

Mr. Manuel CastelhanoFormer Head of the Treasury and Issue Department of the Banco de Portugal 5 April 2009Interviewed by: J. Darío Negueruela

Mr. Antti HeinonenFormer Director of the Directorate Banknotes at the European Central Bank, 6 October 2009and Chairman of CBCDGInterviewed by: Wolfgang Söffner

Mr. Andrew BaileyExecutive Director Banking & Chief Casier of Bank of England 7 April 2010Interviewed by: J. Darío Negueruela

Mr. Alex JarvisFormer manager of the Bank of England Printing Works 8 October 2010Interviewed by: J. Darío Negueruela



■ Federal Reserve Bank outsourced Cash DepotsLaurie Frugé. Federal Reserve Board of Governors. Unites States of America

1 March 2007

■ Strategic plan for cash managementPrabir Biswas. Reserve Bank of India

■ Risks and security for the custody of cash 2 October 2007João S. Figueiredo. Banco Central do Brasil

■ Coin cycle management in PortugalHelder Rosalino. Banco de Portugal

■ How to manage cash policy in 15 countries?Antti Heinonen. European Central Bank

■ The Eurosystem´s legal competence regarding banknote issuancePedro Machado. Banco de Portugal 3 April 2008

■ Improving banknote and coin statistics: a condition for efficientcash managementJ. Darío Negueruela. Banco de España

■ The importance of a communication policy on cash in a central bankManuel Castelhano. Banco de Portugal

■ Cash communication has an encouraging future!Oliver Radelet. European Central Bank

■ The cash-related communication strategy of the OesterreichischeNationalbankStefan Augustin y Antono Schautzer. Oesterreichische Nationalbank

■ Digital communication tools 4 October 2008Sonja Danburg. Federal Reserve System of the United States

■ Communication on cash is essential for the Banque de FranceArmand Pujal. Banque de France

■ Surveys on use of banknotes and coins in MexicoJorge de la Vega. Banco de México

■ Banco de España National Cash SurveyMaría Luisa Leyva. Banco de España

■ How to design a web page on banknotesWolfgang Söffner. Former Chief Cashier of the Deutsche Bundesbank

■ The use of polymer in the banknotes of the Banco de MéxicoManuel Galán. Banco de México

■ Australia’s experience with polymer banknotesRobert Rankin. Reserve Bank of Australia

■ Results with circulation trial of a R$10 polymer note commemoratingthe fifth centenary of the discovery of BrazilJoão S. Figueiredo. Banco Central do Brasil

■ New Zealand’s experience with polymer banknotes 5 April 2009Alan Borden. Reserve Bank of New Zealand

■ Polymer banknotes in RomaniaRazvan Dumitriu. National Bank of Romania

■ Polymer banknotes: the Chilean experienceIván Montoya. Banco Central de Chile

■ Polymer banknotes in VietnamNguyen Chi Thanh. State Bank of Vietnam

■ The Banco Central del Uruguay’s experience with varnished banknotesAlfredo Allo. Banco Central del Uruguay

■ More efficient cash management 6 October 2009Prabir Biswas. Independent strategy advisor

■ Reorganising the branch network at the Banca d’ItaliaClorinda Forte. Banca d’Italia


Opinion



Cronological order (cont.) Issue Date

■ The Banco de la República’s cash centreBernardo Calvo. Banco de la República. Colombia

■ Cash deposit systemsKari Takala. Bank of Finland

■ The use of international coding standards at a central bank 7 April 2010Ángel Camarena and Manuela Sebastián. Banco de España

■ The return to the bolivianoGustavo Blacutt. Banco Central de Bolivia

■ The European legal framework protecting the euro against counterfeiting:an overviewJavier Priego. Banco de EspañaPedro Machado. Banco de Portugal

■ The Central Bank Counterfeit Deterrence Group’s fight against counterfeitingAnttii Heinonen. Executive Committee of the CBCDG

■ The education strategy for the United States’ new 100 dollar banknoteLorelei Pagano. United States Federal Reserve System

■ A multilateral approach to the fight against counterfeitingAllister McCallum. European Central Bank

■ The importance of forensic work in police investigations 8 October 2010Carmen Álamo and Juan Pablo Garnacho. Banco de España

■ The Bank of England’s anti-counterfeiting strategyKevin Wills. Bank of England

■ The coin packaging system. An element in the fight against coincounterfeiting in GermanyFranz-Josef Behringer. Deutsche Bundesbank

■ Education: a powerful weapon against counterfeitingCésar Roney. Banco Central de Reserva de El Salvador

■ Anti-counterfeiting measures in the Russian FederationOverview of the measures to defend the rouble from counterfeiters

■ Banknote authentication devicesFrancisco Cantero. Investrónica, S.A.



Billetaria covers


YEAR I ISSUE 2 OCTOBER 2007

Opinion2 Editorial

3 Interview with Wolfgang SöffnerThe Chief Cashier of the Deutsche Bundesbank shares with us his professional experience

6 Strategic plan for cash managementA general view of the strategic challenges of treasury management

Prabir Biswas. Reserve Bank of India

11 Risks and security for the custody of cashThe 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 PortugalThe management of coins in the Banco de Portugal adapts to the new European scenario

Helder Rosalino. Banco de Portugal

Banknotes and Coins15 Colombian banknotes

Bernardo Calvo. Banco de la República

17 The Treasury Department of the Banco Central del UruguayAlfredo Allo. Banco Central del Uruguay

Cash activities and Technology19 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 processAutomation in the finishing stage of the banknote production process

Francisco Lacuesta. Fabrica Nacional de Moneda y Timbre. España

23 Smart solutions for banknote processingTechnological development in banknote sorting

Alfred Schmidt. Giesecke und Devrient

CIGE27 IV International Course on Cash Management








YEAR III ISSUE 6 OCTOBER 2009

Opinion

2 Editorial

3 Antti Heinonen talks to Wolfgang Söffner Two authorities on cash management talk about the subject from the supranational perspective

6 The Banco Central del Uruguay's experience with varnished banknotes Varnishing paper banknotes to protect them from soiling

Alfredo Allo. Banco Central del Uruguay

8 More efficient cash management The importance of cash management today

Prabir Biswas. Independent strategy advisor. Former executive director of the Reserve Bank of India

10 The restructuring of the Banca d'Italia branch network The Banca d'Italia takes a new approach to its territorial structure

Clorinda Forte. Banca d'Italia

Banknotes and Coins

12 The Bolivian banknote family Walter Orellana. Banco Central de Bolivia

14 The Treasury Department of the Banco Central del Paraguay Pedro Acosta, José Antonio Meza and Fernando Miguel Villalba

Banco Central del Paraguay


16 Mechanical banknote sorting: an empirical study An investigation into the behaviour of banknote sorting machines

Mariano Martínez, Eduardo Kropnick and J. Darío Negueruela. Banco de España

20 Open Main Cashier SystemGlory's small-scale banknote sorting solution

Yoshihiro Akita. Glory Ltd

CIGE22 VI International Course on Cash Management

J. Darío Negueruela. Banco de España

Miscellaneous

21 International events





YEAR IV ISSUE 7 APRIL 2010

Opinion

2 Editorial

3 Interview with Andrew Bailey The Bank of England’s viewpoint on currency management

6 The Banco de la República’s cash centre New facilities to increase security and efficiency

Bernardo Calvo. Banco de la República. Colombia

8 Cash deposit systems Third-party custody of central banks’ banknotes

Kari Takala. Bank of Finland

10 The use of international coding by central banksNew technologies applied to banknote logistics

Ángel Camarena and Manuela Sebastián. Banco de España

12 The return to the bolivianoCash dispensers as a tool in promoting the circulation of a currency

Gustavo Blacutt. Banco Central de Bolivia

Banknotes and Coins

14 Guatemalan Banknotes Jessica Flores. Banco de Guatemala

16 The Banco Central de Nicaragua’s Treasury Subdirectorate Guillermo Selva. Banco Central de Nicaragua


18 Manufacturing low-denomination banknotesSuggestions for extending the lifetime of low-denomination banknotes

Georgy Kornilov. Goznak

21 Digital master die manufacturing systemImproved technology for coin minting

Víctor Feijoo. Real Casa de la Moneda-Fábrica Nacional de Moneda y Timbre

22 Patenting of new banknote security featuresPatents as a leading indicator of future security features

Maurice Perron. Former director at the Banque de France

CIGE24 VII International Course on Cash Management

Miscellaneous



28 Events


standards


YEAR III ISSUE 5 APRIL 2009

Opinion 2 Editorial 3 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

6 The use of polymer in the banknotes of the Banco de México Polymer: a barrier to counterfeits Manuel Galán. Banco de México

8 Australia’s experience with polymer banknotes Two decades of polymer banknotes Robert Rankin. Reserve Bank of Australia 10 Results of the circulation trial of a R$10 polymer note commemorating the fifth

centenary of the discovery of Brazil Brazil: a different experience João Sidney. Banco Central do Brasil 12 New Zealand’s experience with polymer banknotes Polymer cuts central bank costs Alan Boaden. Reserve Bank of New Zealand 14 Polymer banknotes in Romania The first European country to issue banknotes on a plastic substrate Razvan Dumitriu. National Bank of Romania 16 Polymer banknotes: the Chilean experience Polymer has been well received in Chile Iván Montoya. Banco Central de Chile 17 Polymer banknotes in Vietnam A population of 85 million using plastic banknotes Nguyen Chi Thanh. State Bank of Vietnam

Banknotes and Coins 18 Brazilian banknotes Regis L. A. Rosa and Fabio Bollmann. Banco Central do Brasil 20 Currency Management Directorate of the Banco Central de Reserva del Perú Juan Antonio Ramírez. Banco Central de Reserva del Perú 22 Commemorative euro coins María José Fernández Lupiáñez and J. Darío Negueruela. Banco de España

Cash Activities and Technology25 Guardian® technology starts with the film

How polymer is made Bruno Garoffolo and Paul Sientek. Securency International Pty Ltd 26 Polymer and the printing process Polymer banknotes: higher cost but also higher durability Enrique Guarner. Banco de México

CIGE28 VIth CIGE


30 Publications devoted to cash 31 Central banking news 33 Polymer banknote overview 34 Polymer banknote security features


YEAR IV ISSUE 8 OCTOBER 2010

Opinion2 Editorial

3 A meeting with Alex Jarvis

6 The European legal framework protecting the euro against counterfeiting: an overviewAnti-counterfeiting measures from the legal viewpoint

Pedro Machado and Francisco Javier Priego. Banco de Portugal and Banco de España

8 The Central Bank Counterfeit Deterrence Group’s fight against counterfeitingThe CBCDG as an example of cooperation on anti-counterfeiting measures

Antti Heinonen. Chairman of the Executive Committee of the CBCDG

10 The education strategy for the United States’ new 100 dollar banknoteThe global information campaign in the run-up to the launch of a new banknote

Lorelei Pagano. United States Federal Reserve System

11 A multilateral approach to the fight against counterfeitingThe three pillars of the Eurosystem’s fight against counterfeiting of the euro

Allister McCallum. European Central Bank

14 The importance of forensic work in police investigationsTechnical analysis of counterfeits and its role in helping the police

Carmen Álamo and Juan Pablo Gamacho. Banco de España

16 The Bank of England’s anti-counterfeiting strategyThe Bank of England’s weapons to combat the counterfeiting of sterling

Kevin Wills. Bank of England

18 The coin packaging system. An element in the fight against coin counterfeiting in GermanyStandardising coin packaging facilitates counterfeit detection

Franz-Josef Behringer. Deutsche Bundesbank

20 Education: a powerful weapon against counterfeitingEl Salvador’s commitment to educating the public about banknotes

César Roney. Banco Central de Reserva de El Salvador

20 Anti-counterfeiting measures in the Russian FederationOverview of the measures to defend the rouble from counterfeiters

21 Banknote authentication devicesAn important tool enabling retailers to verify banknote authenticity

Francisco Cantero. Investrónica, S.A.

Banknotes and Coins22 Honduran banknotes

Geovanny Bulnes. Banco Central de Honduras

24 The Banco Central de la República Argentina’s Treasury Management DepartmentLuis C. Fiore and Silvia A. Vance. Banco Central de la República Argentina

Cash Activities and Technology26 The Bank of Japan’s operations centre in Toda

Automation eliminates human intervention in banknote handling

Tomoko Kurose. Bank of Japan

28 The final stage of the cash cycleTechnology for banknote destruction and waste compaction


CIGE29 7th International Course on Cash Management – Río de Janeiro

Miscellaneous29 Publications devoted to cash

30 Events





Banknotes and Coins


■ Argentinian bankonotesLuís Fiore. Banco Central de la República Argentina

1 March 2007

■ Colombian banknotesBernardo Calvo. Banco de la República

2 October 2007

■ Costa Rican banknotesRicardo Rodríguez. Banco Central de Costa Rica

3 April 2008

■ Cuban banknotesRaquel Cabrera. Banco Central de Cuba

4 October 2008

■ Brazilian banknotesRegis L. A. Rosa y Fabio Bollmann. Banco Central do Brasil

■ Commemorative euro coins 5 April 2009

María José Fernández Lupiáñez and J. Darío Negueruela. Banco de España

■ The Bolivian banknote familyWalter Orellana. Banco Central de Bolivia

6 October 2009

■ Guatemalan BanknotesJessica Flores. Banco de Guatemala

7 April 2010

■ Honduran banknotesGeovanny Bulnes. Banco Central de Honduras

8 October 2010



Departments


■ The Cash Department of the Banco Central de VenezuelaEgidio Coelho. Banco Central de Venezuela

1 March 2007

■ The Treasury Department of the Banco Central del UruguayAlfredo Allo. Banco Central del Uruguay

2 October 2007

■ The Issue and Custody Department of the Banco Central de la RepúblicaDominicana 3 April 2008Cristian A. Cuesta. Banco Central de la República Dominicana

■ Treasury and Issue Department of the Banco de PortugalHélder Rosalino. Banco de Portugal

4 October 2008

■ Currency Management Directorate of the Banco Central de Reservadel Perú 5 April 2009Juan Antonio Ramírez. Banco Central de Reserva del Perú

■ The Treasury Department of the Banco Central del ParaguayPedro Acosta, José Antonio Meza and Fernando Miguel Villalba. Banco 6 October 2009Central del Paraguay

■ The Banco Central de Nicaragua’s Treasury SubdirectorateGuillermo Selva. Banco Central de Nicaragua

7 April 2010

■ The Banco Central de la República Argentina’s Treasury ManagementDepartment 8 October 2010Luis C. Fiore and Silvia A. Vance. Banco Central de la República Argentina



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.



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.





■ The Motion threadFernando León. Banco de España

■ The Laboratory of Research and Quality Control of the Banco de México 1 March 2007Germán Romero Uscanga. Banco de México

■ The Banco de España counterfeit currency databaseVíctor Andrés. Banco de España

■ Intaglio printingVincenzo Ciaramella. Banca d’Italia

■ Finishing stage of the banknote production processFrancisco Lacuesta. Real Casa de la Moneda-FNMT. Spain 2 October 2007

■ G&D smart solutions for banknote processingAlfred Schmidt. Giesecke und Devrient

■ The note quality reward schemeMichael Andersen. Reserve Bank of Australia

■ The world-class cash operation3 April 2008

Ed Brindley. De la Rue International Ltd.

■ HologramsEduardo kropnick and Fernando León. Banco de España 4 October 2008■ Toshiba’s banknote processing machinesMasahiro Takagi. Toshiba Europe GmbH

■ Guardian® technology starts with the filmBruno Garoffolo and Paul Sientek. Securency International Pty Ltd.

5 April 2009■ Polymer and the printing processEnrique Guarner. Banco de México

■ Mechanical banknote sorting: an empirical studyMariano Martínez, Eduardo Kropnick and J. Darío Negueruela. Banco de España 6 October 2009■ Open Main Cashier SystemYoshihiro Akita. Glory Ltd.

■ Production of low-denomination banknotesGeorgy Kornilov. Goznak

■ Digital master die manufacturing systemVíctor Feijoo. Real Casa de la Moneda-FNMT. Spain 7 April 2010

■ Patenting of new banknote security featuresMaurice Perron. Former director at the Banque de France

■ The Bank of Japan’s operations centre in TodaTomoko Kurose. Bank of Japan

■ The final stage of the cash cycle 8 October 2010




CIGE

CIGE IV V VI VII

BILLETARIA issue 1 and 2 3 and 4 5 and 6 7 and 8

Date March 2007 April 2008 April 2009 April 2010October 2007 October 2008 October 2009 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



Contributors

Acosta, PedroNational Operations ManagerBanco Central del Paraguay. No. 6

Akita, YoshihiroManager Overseas Business PlanningDepartmentGlory Ltd. No. 6

Álamo, CarmenExpert at the National Analysis CenterBanco de España. No. 8

Allo, AlfredoChief of the Treasury DepartmentBanco Central del Uruguay. Nos. 2 and 6

Andersen, MichaelHead of Note IssueReserve Bank of Australia. No. 3

Andonegui, M. EulaliaCIGE CoordinatorBanco de España. No. 3

Andrés, VíctorHead of the Eurosystem Currency UnitBanco de España. No. 1

Augustin, StefanDirector of the Cashier’s Divisionand Branch OfficesOesterreichische Nationalbank. No. 4

Bailey, AndrewExecutive Director Banking & Chief CashierBank of England. No. 7

Barrera, YolandaPhotographerNos. 4, 5, 6, 7 and 8

Behringer, Franz-JosefHead of the Issue Division in the CashDepartmentDeutsche Bundesbank. No. 8

Biswas, PrabirIndepedent strategy advisorFormer Executive Director of the ReserveBank of India. Nos. 2 and 6

Blacutt, GustavoDirectorBanco Central de Bolivia. No. 7

Boaden, AlanHead of Currency DepartmentReserve Bank of New Zealand. No. 5

Bollman, FabioBanknote and Coin Design Coordinator ofCurrency Management DepartmentBanco do Brasil. No. 5

Brindley, EdHead of Pre-Sales and Product ManagementDe La Rue Internacional Ltd. No. 3

Bulnes, GeovannyHead of the Issue and Treasury DepartmentBanco Central de Honduras. No. 8

Cabrera, RaquelExpert of the Issue and Valuables DepartmentBanco Central de Cuba. No. 4

Calvo, BernardoDirector of the Treasury DepartmentBanco de la República. Colombia. Nos. 1, 2 and 7

Camarena, ÁngelHead of the Cash DivisionBanco de España. No. 7

Cantero, FranciscoProduct Manager for SecureuroInvestrónica, S.A. No. 8

Castelhano, ManuelDirector of the Treasury and Issue DepartmentBanco de Portugal. No. 4

Chi Thanh, NguyenDirector of Issue and Vault DepartmentState Bank of Vietnam. No. 5

Ciaramella, VincenzoDeputy Chief of the Printing WorksBanca D’Italia. No. 2

Coelho, EgidioTreasury ManagerBanco Central de Venezuela. No. 1

Cuesta, Cristian A.Director of the Issue and Custody DepartmentBanco Central de la República Dominicana. No. 3

Danburg, SonjaFinancial AnalystFederal Reserve System of the United States. No. 4

Dumitriu, RazvanSenior Expert of Issue Treasury & CashManagement DepartmentNational Bank of Romania. No. 5

Feijoo, VíctorHead of Engineering in the Coin DepartmentReal Casa de la Moneda-FNMT. España. No. 7

Ferguson, Thomas A.Former Director of the Bureau of Engraving andPrinting of the United States. No. 4

Fernández, M. JoséHead of the Resources DivisionBanco de España. No. 5

Figueiredo, João S.Head of Currency Management DepartmentBanco do Brasil. Nos. 2 and 5

Fiore, Luis C.Treasury ManagerBanco Central de la República Argentina.Nos. 1 and 8

Flores, JessicaExpert in the Monetary Issue DepartmentBanco de Guatemala. No. 7

Forte, ClorindaDeputy Head of Division of the General CurrencyDepartmentBanca D’Italia. No. 6

Frugé, LaurieFederal Reserve Board of Governors. UnitedStates of America. No. 1

Galán, ManuelGeneral Director of Currency Issue DirectorateBanco de México. No. 5

Garnacho, Juan PabloExpert at the National Analysis CenterBanco de España. No. 8

Garoffolo, BrunoMarketing ManagerSecurency Internacional Pty Ltd. No. 5

Guarner, EnriqueManager of Banknote Printing WorksBanco de México. No. 5

Heinonen, AnttiFormer Director of the ECB BanknotesDirectorate and Chairman of the ExecutiveCommittee of the CBCDG. Nos. 3, 6 and 8

Hils, ClaudioPhotographer and communications designerM. der D. Fotografischen Akademie. No. 2

Jarvis, AlexFormer manager of the Printing WorksBank of England. No. 8

Kok, AngeloDirector of the Sales DepartmentKusters Engineering B.V. No. 8

Kornilov, GeorgyInternational Cooperation DepartmentGoznak. No. 7

Kropnick, EduardoHead of the Technical Advice UnitBanco de España. Nos. 4 and 6

Kurose, TomokoDirector of International Affairs and CurrencyCounterfeiting DeterrenceBank of Japan. No. 8

L. A. Rosa, RegisAdvisor of Currency Management DepartmentBanco Central do Brasil. No. 5

Lacuesta, FranciscoHead of the Production ServiceReal Casa de la Moneda-FNMT. España. No. 2

León, FernandoHead of the International Currency UnitBanco de España. Nos. 1, 2 and 4

Leyva, María LuisaHead of the International Currency DivisionBanco de España. Nos. 1 and 4

Machado, PedroLegal AdvisorBanco de Portugal. Nos. 3 and 8

Martínez, MarianoHead of the Counting and Sorting UnitBanco de España. No. 6



McCallum, AllisterHead of the Anti-Counterfeiting SectionEuropean Central Bank. No. 8

Meza, José AntonioDirector of the Treasury DepartmentBanco Central del Paraguay. No. 6

Montoya, IvánManager of Banknotes and CoinsBanco Central de Chile. No. 5

Negueruela, J. DaríoDirector of the Cash and Issue DepartmentBanco de España.Nos. 1, 2, 3, 4, 5, 6, 7 and 8

O’Byrne, LouisHead of the Currency CenterCentral Bank & Financial Services Authority ofIreland. No. 3

Orellana, WalterMonetary Operations ManagerBanco Central de Bolivia. No. 6

Pacreu, JaimeAdvisor of the Pacific RIM Banknote Printers’Conference. Nos. 1 and 4

Pagano, LoreleiDirector of CurrencyFederal Reserve System of the United States. No. 8

Perron, MauriceFormer DirectorBanque de France. No. 7

Priego, Francisco JavierDirector of the Legal DepartmentBanco de España. No. 8

Pujal, ArmandChief CashierBanque de France. No. 4

Radelet, OlivierPrincipal Project Manager for Banknote and CoinsCommunicationEuropean Central Bank. No. 4

Ramírez, Juan AntonioManager of Currency Management DirectorateBanco Central de Reserva del Perú. No. 5

Rankin, RobertAssistant of Governor (Currency)Reserve Bank of Australia. No. 5

Rodríguez, RicardoDirector of the Treasury DepartmentBanco Central de Costa Rica. No. 3

Romero, GermánLaboratory of Research and Quality ControlBanco de México. No. 1

Roney, CésarHead of the Treasury DepartmentBanco Central de Reserva de El Salvador. No. 8

Rosalino, HélderDeputy Director of the Treasure and IssueDepartmentBanco de Portugal. Nos. 2 and 4

Schautzer, AntonExpertOesterreichische Nationalbank. No. 4

Schmidt, AlfredChief of the Banknote Processing DepartmentGiesecke & Devrient. No. 2

Sebastián, ManuelaHead of the Issue DivisionBanco de España. No. 7

Selva, GuillermoTreasury Sub-ManagerBanco Central de Nicaragua. No. 7

Sientek, PaulDirector of Operations and Head of Poly TeQServices. Securency Int. Pty Ltd. No. 5

Söffner, WolfgangFormer Chief Cashier of the Deutsche BundesbankNos. 2, 4 and 6

Takagi, MashiroHead of Electronics Systems OperationToshiba Europa GMBH. No. 4

Takala, KariAdvisor in the Cash DepartmentBank of Finland. No. 7

Tarantino, AntonioPhotographer No. 3

Vance, Silvia A.Deputy Treasury ManagerBanco Central de la República Argentina. No. 8

Vega, Jorge de laIssue Planning and Organization ManagerBanco de México. No. 4

Villalba, Fernando MiguelDeputy Treasurer for Banks and Deposit AccountsControlBanco Central del Paraguay. No. 6

Viñals, JoséDeputy GobernorBanco de España. No. 1

Wills, KevinDirector of the Anti-Counterfeiting StrategyBank of England. No. 8


BILLETARIAOctober 2010. Special 4-year supplement

PublisherBanco de España / Cash and Issue Departmentwww.bde.es

Editorial CommitteJ. Darío NegueruelaManuel GalánWolfgang SöffnerLuis Fiore

Editorial StaffMaría Luisa LeyvaVíctor AndrésFernando LeónMaría Eulalia AndoneguiJosé Moreno

Special AdvisorsBernardo CalvoHélder Rosalino

SecretariatCash and Issue Department, Banco de EspañaAlcalá, 52228027 MadridTel.: +34 91 338 6310Fax: +34 91 338 6887

Reproduction of the content of BILLETARIA in wholeor in part is permitted, provided the source isacknowledged.

For subscriptions and contributions, please contact:[email protected]

© Banco de EspañaLegal deposit: M-45.124-2010Printed in Spain, by Artes Gráficas Palermo, S.L.

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