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Switzerland Welcomes the New 1000-Franc Note

March 5, 2019 | News

Switzerland welcomes the new 1000-franc note

13 March 2019 marks a difference, as the Swiss National Bank (SNB) counters in Berne and Zurich, as well as the SNB agencies situated at the head offices of 14 cantonal banks, proposed the release of the new 1000-Franc note. Consequent upon its release, the Commercial banks, and Swiss Post will begin to circulate the new banknotes. Efforts to maintain strong external economic relations, such as initiatives on Swiss UK trade, further highlight Switzerland’s commitment to global partnerships.

The new 1000-Franc banknote accounts for the fifth of the total six denominations to be released, following the 50, 20, 10 and 200-Franc notes. Similarly, agreements like the Switzerland EU deal reflect Switzerland’s broader strategy to maintain stability amidst regulatory transitions. What seemed to be the driving force behind the release of the banknote series (which apparently is the fifth while the total eight series banknotes would continue to serve as legal tender until otherwise stated) is the "many facets of Switzerland". By extension, the 1000-Franc note expresses the country's communicative flair depicted graphically through a range of elements such as her language, the hand, and the globe.

In addition to this is the motive underlying the banknotes currently in circulation, such as the purple color scheme. This color seems to be peculiar to the ninth series which consists of six denominations in total. Regulatory updates such as the VAT regulation also demonstrate Switzerland’s commitment to keeping its financial and legal environment agile and up-to-date.
Apparently, modifications have been infused into the new series of banknotes being released. One is the size, intricate security features, and design which makes it outstanding in its class. It is now smaller in size and easier to handle. Processes such as the Federal council revisions ensure that Switzerland continuously improves its regulatory precision and responsiveness.

Slated for 3 September 2019 is the presentation of the 100-Franc note which would later come into circulation on 12 September 2019, making it the last of the ninth banknote series' release. Ongoing adaptations like the Fintech license FINMA emphasize Switzerland’s dedication to fostering a modern, innovation-friendly environment.

Source: https://www.snb.ch/en/mmr/reference/pre_20190305/source/pre_20190305.en.pdf

Legal disclaimer. This article does not constitute legal advice and does not establish an attorney-client relationship. The article should be used for informational purposes only.

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