The Bank of Finland is authorised by the European Central Bank (ECB) to put banknotes into circulation in Finland based on their demand. As a member of the Eurosystem, the Bank of Finland is also responsible for the maintenance of currency supply, i.e. it ensures the authenticity and quality of the money in use in the country by removing counterfeit and damaged notes from circulation. To safeguard the efficiency of currency supply, the Bank of Finland ensures that there are adequate stocks of banknotes and coins as well as strategic stocks of banknotes to meet possible exceptional demand for cash.
In the maintenance of currency supply, the Bank of Finland operates in cooperation with deposit banks and other professional cash handlers responsible for currency supply. The objective is to provide a resilient currency supply system that is secure, cost-effective, centralised and meets the objectives of the Eurosystem.
The series of euro banknotes consists currently of seven different denominations, whose size grows as their value increases. The banknotes are uniform throughout the euro area.
New Europa series of banknotes
The euro area countries are in the process of introducing a new series of banknotes. This second euro banknote series is called the Europa series. The new series will gradually replace the first banknote series, starting from the smallest denomination of €5 and ending with the €200 banknote. The issuance of EUR 500 banknotes will be discontinued on 26 January 2019. The EUR 500 notes will remain legal tender throughout the euro area and need not be exchanged separately for banknotes of smaller denominations. Banks and sorting centres may continue to recycle EUR 500 notes to their customers.
The first series of euro banknotes was designed by Robert Kalina from the Austrian central bank (Österreichische Nationalbank), and the design elements represent architectural styles from different periods of Europe's history. The second series still features the "ages and styles" design of the first series. The design of the new banknotes has, however, been slightly modified to accommodate the enhanced security features. It is easy to distinguish the new euro banknotes from those of the first series, but it is nevertheless easy to identify the different denominations.
- The Europa series €5 banknote was issued on 2 May 2013.
- The Europa series €10 banknote was issued on 23 September 2014.
- The Europa series €20 banknote was issued on 25 October 2015.
- The Europa series €50 banknote was issued on 4 April 2017.
- The Europa series €100 and €200 banknotes will enter into circulation on 28 May 2019.
There will be no €500 banknote in the Europa Series.