XVII Meeting of the Central Bank Treasurers

Inauguration of the XVII Meeting of Treasurers of the Central Bank

Vinicio Cáceres, General Manager of the Banco de Guatemala and Roberto Marino, Advisor to the General Director of CEMLA welcomed the participants. They emphasized that the presence of a significant number of Treasurers from Latin American and Caribbean central banks, as well as experts on the subject from other regions of the world, such as Europe and Asia, at this meeting, reflects the growing interest in the topic across the various areas that comprise central banks.

They emphasized that the topic of this meeting is fundamental to understanding the functioning of modern central banking. They highlighted the essential and vital role that cash management and the proper organization of currency issuance play in ensuring the proper functioning of the economy.

They noted that this meeting will feature important activities, projects, and achievements of central banks in the area of treasury, such as logistical, operational, and technological developments and current concerns. International statistics on cash use will be discussed. Experiences related to the launch of new banknote series and associated problems will be shared. How and when to determine whether a banknote family needs to be changed will be analyzed. The development of the Banco Central de Costa Rica's new monetary cone under the collection’s strategy will be presented.

The experience with the circulation of banknote series using different substrates will also be addressed, and recycling and environmental protection in the cash cycle will be discussed, as well as the environmental sustainability measures currently being taken in general. A representative from the Banco Central de Reserva del Perú will discuss the recovery of damaged banknote waste through composting.

They commented that this meeting will be of great interest because we will hear from experts about the role of central banks in a cashless society: the challenges, investments, risks and mitigators, the impact of digital payment methods on cash demand, and the protection of consumer rights in the use of payment methods.

Day one, September 30th

The first session was a presentation of international cash statistics by Maria José Fernández, Director of the Cash Department at the Banco de España.

The second session was a tour de table, where representatives from the central banks of Mexico, Spain, Guatemala, Colombia, Brazil, and Chile presented recent events, activities, and projects in the field of currency issuance.

The third session discussed the evolution of cash use and digital currency. Specifically, the role of central banks in a cashless society was discussed, along with its challenges, investments, risks, and mitigating factors, the impact of digital payment methods on cash demand, and the protection of consumer rights in the use of payment methods. Presentations were made by Cecilia Feliú Carrizo, Treasurer of the Banco Central de Chile, and Luisa Fernanda Orozco Rodriguez, Director of the Issuance and Programming Department of the Banco de la República, Colombia.

In the fourth session, Alejandro Zamora, an expert in banknote issuance at the European Central Bank, gave a presentation on the behavior of cash in the eurozone.

The fifth session presented the results of the survey on cash use in Brazil. The presentation was given by Antonio José Medina Lima Junior, director of the currency management department at the Banco Central do Brasil.

The sixth session, dealt with cash tracking indicators (KPIs), the presentation was given by Luisa Fernanda Orozco Rodriguez, director of the Issuance and Programming Department of the Banco de la República, Colombia.

The seventh session featured a presentation on the seasonal factors method for estimating the demand for currency in Guatemala, led by Waleska Raxón de Contreras, Deputy Director of Monetary Issuance at the Banco de Guatemala.

The eighth session discussed the topic: How to determine when a banknote family needs to be changed? The presentation was led by Guilmar Moncayo Ponce, head of the Banco de México's research and development office.

The ninth session was about the application of banknotes and technology (ABT): ad-hoc consultations and reports by Fernando León, head of the Cash Innovation and Technology Division, Banco de España.

The tenth session, entitled "Experience in the circulation of banknote series using different substrates", featured presentations Guilmar Moncayo Ponce, Head of the Research and Development Office at the Banco de México, and Juan José Leiva Cortés, Director of the Issuance and Securities Department at the Banco Central de Costa Rica.

The eleventh session focused on environmental issues: the recovery of damaged banknote waste through composting. The presentation was given by Javier Gutiérrez González, Manager of Current Cash Management at the Banco Central de Reserva del Perú.

The twelfth session focused on updating the environmental impact of the cash cycle. The presentation was given by Guilmar Moncayo Ponce, head of the research and development office at the Banco de México.

Day two, October 1st

The first session was a tour de table, where representatives from the central banks of Costa Rica, Uruguay, Trinidad and Tobago, Peru, and Honduras presented recent events, activities, and projects in the field of currency issuance.

The second session was led by Juan José Leiva Cortés, director of the Issuance and Securities Department of the Banco Central de Costa Rica, who presented the development of the BCCR's new monetary cone under the collection’s strategy.

The third session focused on the e-wallet project to reduce the production of metal coins for exchange. It was led by Isabel Morales Pasantes, Director of Cash Programming and Distribution at the Banco de México.

The fourth session focused on the use of SCADA and artificial intelligence for predictive maintenance and coin quality control. The presentation was given by Javier Gutiérrez González, Manager of Currency Management at the Banco Central de Reserva del Perú.

The fifth session, the presentation on low-denomination coins was given by Luisa Fernanda Orozco Rodriguez, Director of the Issuance and Programming Department of the Banco de la República, Maria Jose Fernandez, Director of the Cash Department of the Banco de España, and Lucero Perez Torres, Manager of Cash Programming and Studies, Banco de México.

The sixth session was a round table: "Challenges in currency forecasting models". Presentations were made by Cecilia Feliú Carrizo, Treasurer Manager of the Banco Central de Chile; Lucero Pérez Torres, Manager of Cash Programming and Studies, Banco de México; and Luisa Fernanda Orozco Rodriguez, Director of the Issuance and Programming Department of the Banco de la República, Colombia.

The seventh session, "Technological challenges related to metallic currency" were presented by José Luis Martínez, Head of the Currency Analysis Unit at the Banco de España.

The eighth session, the closing session, was led by Roberto Marino, Advisor to the Director General of CEMLA, and Claudia Waleska Raxón de Contreras, Deputy Director of Monetary Issues at the Banco de Guatemala. They thanked all the participants for their interest and the panelists for their excellent presentations. They mentioned that the next Treasurers' Meeting will be held in 2027, at a location yet to be determined.