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IACA Coin Awards

Nomination is Now Open - Deadline 31 August 2022

Euro coins (and euro banknotes) are the tangible sign of the common currency and an important means of payment that is easy-to-use, cheap and secure. Contrary to the centralised banknote system, a decentralised framework applies for the issuance of euro coins and member states may issue coins subject to the approval of the volume of coin issuance by the European Central Bank.
Several Eurosystem countries have been facing excessive and persistent coin stocks of some denominations. In various forums, this issue has been addressed and ways to solve it in a coordinated manner within the current Treaty framework have been approached.
Overproduction, coin migration and uncoordinated actions between member states could explain some of these excessive coin stocks that generate inefficiencies to the cash cycle. More cooperation is needed. Bilateral cooperation agreements for coin swaps between member states are an effective and useful instrument to mitigate these excess stocks.

In recent years, Portugal has been very active in promoting bilateral cooperation and has concluded several bilateral agreements for coin swaps with different member states. We propose to share our experience within these challenging agreements and encourage other countries to pursue the same strategy to enhance efficiency in the cash cycle.