As well as the contracts for design and print with CBN, we have signed seven other contracts or supply agreements with six other vendors or component suppliers. To give you an idea of the scope of the changeover exercise – more than 40,000 pieces of cash-handling equipment will need to be calibrated for the new notes.
We’ve been consulting with industry on the calibration and testing programme, and at this stage we’re confident the industry will be ready to handle the new notes later next year. We’ll continue to work closely with the industry to ensure the transition is as smooth as possible.