Sveriges riksbank, or simply the Riksbank, is the central bank of Sweden. It is the world's oldest central bank and the fourth oldest bank in operation.The Riksbank began operations in 1668. Previously, Sweden was served by the name Stockholms Banco (also known as the Bank of Palmstruch), founded by Johan Palmstruch in 1656. Although the bank was private, it was the king who chose its management: in a letter to Palmstruch, he gave permission to its operations according to stated regulations.