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International Review on Cash Management BILLETARIA-INGLES_14_v9_Maquetación 1 18/11/13 08:53 Página 1 INTERNATIONAL REVIEW ON CASH MANAGEMENT YEAR VII ISSUE 14 OCTOBER 2013 Opinion 2 Editorial 3 Interview with Astrid Mitchell 6 Environmental impact management of banknote production and improvements Angelamaria Fiori. Banca d’Italia 8 Federal Reserve’s efforts to recycle shredded currency Shaun E. Ferrari. US Federal Reserve System 9 Burning banknote waste in a cement works Beatriz García. Banco de España 11 Environmentally conscious activities of the NPB Hitoshi Tanaka. National Printing Bureau, Japan 13 Anti-bacterial treatment of banknote paper Georgy Kornilov and Yelena Kurkova. Goznak 15 The FNMT’s paper manufacturing and the environment Antonio Olmos. FNMT-RCM 18 The carbon footprint of banknote security features Beat Attinger. Orell Füssli Security Printing Ltd 20 Incorporating diffractive optically variable devices in banknotes in an environmentally sustainable way Peter Muehlfelder. Leonard Kurz Stiftung & Co. KG 23 The “green” banknote. A holistic view Alfred Kraxenberger, Christoph Mengel and Alfred Schmidt. Louisenthal and Giesecke & Devrient GmbH 26 The polymer banknote: a reduction in environmental impact Jaime Pacreu. Innovia Security, S.A. de C.V. 29 Environmental impact management. Security inks for banknotes René Berger and Brigitte Sheung. SICPA, S.A. Banknotes and Coins 32 The banknotes of Venezuela Jacquelín Bastardo. Banco Central de Venezuela 34 Treasury Department of the Banco Central de Reserva de El Salvador César Roney. Banco Central de Reserva de El Salvador 36 The Museum of the National Bank of Belgium Marianne Danneel. National Bank of Belgium 39 Guatemala’s Numismatic Museum Ricardo Martínez. Banco de Guatemala Miscellaneous 41-43 9th International Course on Cash Management. BANCO meeting in Bratislava. The carbon footprint. Readers give their views on BILLETARIA. CPC BILLETARIA-INGLES_14_v9_Maquetación 1 18/11/13 08:53 Página 2 Opinion Editorial some very interesting ideas, and a defence of cotton paper as the preferred choice of sub- Editorial strate from the environmental point of view. Jaime Pacreu opens up the field for debate by J. Darío Negueruela Banco de España offering an opposing view that advocates poly- mer for its advantages of over paper. Our thanks to everyone involved for the quality of When, almost a year ago, we decided to pre- their contributions, which have made this issue pare a thematic issue of BILLETARIA on the of BILLETARIA a unique collection of articles subject of the ecology, the environment and on a rarely addressed topic. All in all this issue caring for the planet, some of our colleagues includes eleven articles on the subject, which called us dreamers and said we were out of we have shortened to avoid the issue going step, and our friends gave us a kindly but further beyond the 40 pages we have set as bemused looks, while wishing us well. And our limit. We have also continued both our the truth is that there were times when we series on banknotes and central bank depart- wondered whether it would be possible to ments, and that on numismatic museums. bring together the contributors and content for a special issue on the topic. But the gen- This issue also includes another novelty, in this erosity of BILLETARIA’s friends has meant that case the “Interview” section where we talk to readers today have in their hands (or on the Astrid Mitchell, the editor of Currency News. screen of their PC or tablet) issue no. 14 of As readers will recall, in our previous issue we the review, with more pages than usual and published a piece about InterCrim-Press, the a standard of content that has beat our expec- leading Russian specialist publisher on cur- tations. And this is despite the fact that some rency matters, and with which we maintain a of our habitual contributors have not been able friendly and cooperative professional relation- to participate in this issue. ship. This concludes our series disseminating and supporting our peers in the currency pub- We have tried to cover the issue from a wide lications field, who we look upon as colleagues variety of angles. Three central banks explore rather than competitors. the subject from different viewpoints: that of the environmental policy of the Banca d’Italia’s The latest opinion survey aimed at BIL- printing works, a look at waste management LETARIA readers has showered us with praise at the Fed, and an enlightening article by Beat- and words of encouragement. And at the riz García at the Banco de España on the tech- same time, offered some guidance on future nical aspects of burning waste in a cement directions. In general, readers expressed a works. Japan’s National Printing Bureau also preference for shorter “Events” and “Miscel- discusses its environmental policy; Goznak laneous” sections; more thematic issues; wider presents a subject little-known in the banknote distribution of the electronic format of the world (the antibacterial treatment of paper); review, while keeping the quality of the paper; and the FNMT discusses the efforts its paper maintaining the rigorous but accessible tone; mill makes to be environmentally friendly. limiting contributions to their current length; SICPA, Kurz and Orell Füssli present manu- extending our geographical reach; vigorously facturers’ viewpoints on inks, holograms, and defending our editorial independence; and tak- other banknote-related products. And G&D ing care over the composition and graphics. presents an extensive article giving an overview Many thanks. See you again in issue 15 of “Architecture”. Stained glass window in the Banco de España of a responsible environmental policy, with BILLETARIA. building, Madrid / JDN CONTRIBUTORS J. Darío Negueruela Director of the Cash and Issue Department. Banco de España / Astrid Mitchell Editor of Currency News. Reconnaissance International / Angelamaria Fiori Deputy Head of the Quality, Environment, Health and Safety Division. Banca d’Italia / Shaun E. Ferrari Assistant Director in the Reserve Bank Operations & Payment Systems Division. US Federal Reserve System / Beatriz García Unit Manager of the Regulation and Control. Banco de España / Hitoshi Tanaka General Manager of the Environmental Management Division. National Printing Bureau, Japan / Georgy Kornilov Director of the Research and Development Institute. Goznak / Yelena Kurkova Deputy Head of the Paper Technology Department. Goznak / Antonio Olmos Paper Mill Director. FNMT-RCM / Beat Attinger Director of Marketing & Sales. Orell Füssli Security Printing Ltd / Peter Muehlfelder Head of Business Area Security. Leonard Kurz Stiftung & Co. KG / Alfred Kraxenberger Managing Director, Technology and Innovation, Banknote Paper. Louisenthal / Christoph Mengel Head of Product Development, Banknote Printing. Giesecke & Devrient GmbH / Alfred Schmidt Product Management Director, Banknote Processing. Giesecke & Devrient GmbH / Jaime Pacreu General Manager. Innovia Security S.A. de C.V. / René Berger Head of Analysis and Product Conformity. SICPA, S.A. / Brigitte Sheung Marketing Editor. SICPA, S.A. / Jacquelín Bastardo Treasury Manager. Banco Central de Venezuela / César Roney Head of Treasury Department. Banco Central de Reserva de El Salvador / Marianne Danneel Curator. National Bank of Belgium / Ricardo Martínez Head of the Interinstitutional Relations and Culture Section. Banco de Guatemala / Yolanda Barrera Photographer. 2 BILLETARIA no 14 October 2013 BILLETARIA-INGLES_14_v9_Maquetación 1 18/11/13 08:53 Página 3 Opinion Interview with Astrid Mitchell Interview with Astrid Mitchell J. Darío Negueruela Banco de España Astrid Mitchell is a director of ple of interviewing "retired cash professionals" that we have followed Reconnaissance International, when choosing the personalities to interview in the past, but flexibility on and the editor-in-chief of Cur- this point has more advantages than drawbacks, and our readers will no doubt be grateful. We would therefore like to thank Astrid for having rency News, one of the currency accepted our invitation and below we offer a summary of the extensive world's most important newslet- interview she gave us in which she passed on her views on a range of top- ters. Currency News, which is ical issues in the currency world. This lively and spontaneous interview, full produced through a joint ven- of insightful comments, offers a new and enlightening viewpoint on our ture with Currency Research, activity and on topics such as information on the Internet, the relationship has been published monthly for of trust between the publisher and the reader, and today's information overload, which we are sure will be of interest to our readers. Thank you the last ten years and is pro- Astrid, for your help and collaboration, and the whole Currency News duced in three languages: Eng- team for their willingness to collaborate with BILLETARIA. lish, Spanish, and Russian. Aimed at central banks, printers Q. You have been working for Reconnaissance International for more and the cash industry in general, it reports on the design, than ten years. Could you briefly explain your professional experi- specifications, manufacturing, sorting and distribution of ence at the company, and where Currency News fits within the banknotes and coins. It has a wide circulation in both hard organisation? copy and electronic format. A. I have been with Reconnaissance International (RIL) –publishers, con- After graduating in Political Science at the University of sultants and conference organisers– as a Director since
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