The ECB will stop printing banknotes in €500

The European Central Bank (ECB) adopted a decision on the termination of release of banknotes of €500. This is stated in the message published on Wednesday, may 4, on the website of the ECB. It notes that this decision is connected with “concern that a bill of €500 facilitates illegal activity”.

The release data of banknotes is planned to stop before the end of 2018, when will be introduced into circulation a banknote series “Europe” in €100 and €200, the report said. The remaining banknotes — from €5 to €200 — still will be produced.

“Bill of €500 will remain the official monetary sign and can be used as a means of payment. Its value, like the value of other banknotes of the Euro, remains unchanged, and it can be traded in any national Central Bank within the Eurozone for an unlimited period of time”, — stated in the message of the ECB.

A series of “Europe” — the second series of Euro banknotes, which is introduced gradually. The first bill of this series in denominations of €5 was introduced in 2013, then in 2014, in circulation there were banknotes of this series, €10, and in 2015 — in denominations of €20.