Antti Heinonen
Antti Heinonen is currently an external advisor to the Bank of Finland. He was the chairman of the Banknote Ethics Initiative from 2013 until September 2023. Before that he was the chairman of the Central Bank Counterfeit Deterrence Group, reporting to G10 Governors, between 2008 and 2012 and the Director, Banknotes at the European Central Bank from 1998 until 2008. Prior to joining the ECB, he served as the chief cashier of the Bank of Finland from 1993.
Heinonen is a contributing editor to Central Banking, writing for the Viewpoint column, which brings together timely analysis from experts across the globe.
He holds degrees in economics and mathematics from the University of Helsinki and has written several books on banknotes and their history.
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Articles by Antti Heinonen
Demand for cash: a global update
Antti Heinonen explores recent data on banknote demand and analyses its impact on cash infrastructure
Maximising the impact of banknote communications
Antti Heinonen highlights the ongoing evolution in how central banks talk about their banknotes
Demand for cash under uncertainty: a global update
Antti Heinonen explores data showing surges in cash demand during periods of uncertainty
Banknote themes in motion
Antti Heinonen asks whether the world is about to witness a revolution in banknote images
Demand for cash in turbulent times
Antti Heinonen analyses trends in cash use as Covid fades, but new shocks take its place
Are central banks ahead of banknote counterfeiters?
Antti Heinonen analyses data on recent trends in counterfeiting
Covid-19 has accelerated paradoxical developments in cash usage
Antti Heinonen explores the unusual patterns in banknote demand in 2020 and draws lessons for the future
Future of cash: what we can learn from the history of money
Central banks must take a broad view of efficiency if they are to preserve the benefits of cash, says Antti Heinonen
Global banknote developments before and after Covid-19
Antti Heinonen looks at how the pandemic triggered sharp changes in demand for cash
The future of cash: an update
Antti Heinonen looks at the latest trends in cash use, including a surprising turnaround for the Swedish krona
Should central banks be more active in managing integrity risks?
Antti Heinonen says banknote procurement faces the threat of corruption, but central banks can take steps to mitigate the risks
What is the future of banknotes?
Antti Heinonen searches for clues on the future of banknotes at central banks worldwide