Stockholms Banco (also known as the Palmstruch's Bank, Swedish: Palmstruchska banken) was the first European bank to print banknotes. It was founded in 1657 by Johan Palmstruch in Stockholm, began printing banknotes in 1661, but ran into financial difficulties and was liquidated in 1667. Stockholms Banco was the immediate precursor to the central bank of Sweden, founded in 1668 as Riksens Ständers Bank and renamed in 1866 as Sveriges Riksbank, which is the world's oldest surviving central bank.[1]