Regulatory Update

Banknote imagery expert panel minutes – 10 March 2026

The Bank of England's expert panel has been tasked with selecting wildlife imagery for the country's new banknotes. The panel's objectives include ensuring that the designs are secure, user-friendly, and representative of British culture and identity. The selection process involves a public consultation, which was informed by over 44,000 responses from the public, highlighting a strong enthusiasm for nature and wildlife.

The panel discussed key criteria for selecting the final shortlist, including the need for animals to be wild, varied, and recognisable, as well as being symbolically representative of the UK. There was also consideration given to conservation status, with some members suggesting that endangered or lesser-known species could be highlighted on banknotes. The panel's role is to help shape the final shortlist, which will be presented to the public for voting.

The next steps in the process include a theme announcement and the launch of a second consultation on June 3rd, which will take place at an event featuring nature-themed elements. Panel members are encouraged to support the process by sharing their expertise and providing feedback on the nomination form.

Why it matters

The selection process for the next series of banknotes is a significant undertaking that will shape the future of cash in circulation. The Bank's decision on which wildlife to feature on the notes will not only reflect British culture and national identity but also incorporate security features that are integrated with the design, ensuring usability and accessibility. By engaging with the public through consultations and focus groups, the Bank aims to create a shortlist of animals that is representative of the UK's diverse ecosystems and meets various criteria, including recognizability and conservation status.

The proposed guidance for nominating animals provides a framework for panel members to consider when selecting wildlife for the banknotes. The emphasis on diversity and inclusivity ensures that a wide range of species are represented, from urban to rural habitats, and from freshwater to marine environments. By balancing recognizability with conservation status, the Bank aims to create a series of banknotes that not only authenticate transactions but also promote awareness about the importance of preserving Britain's natural heritage.

The next steps in the process will involve the launch of the second consultation on June 3rd, where the public will have the opportunity to vote on the shortlist of animals. The Bank's plan to create a diverse and inclusive series of banknotes reflects its commitment to promoting British culture and identity while also incorporating cutting-edge security features that enhance the usability of cash in circulation.

Key points

* The Bank of England is seeking to refresh its banknote designs, with a focus on wildlife and nature imagery, following a public consultation that received over 44,000 responses. * The panel's role in the process is to help shape the shortlist of animals for the summer consultation, which will be made available to the public for voting. * Key considerations for the shortlist include representation of cultural and national identity, security features, usability, durability, accessibility, and conservation status, with a focus on UK-native species. * The panel discussed the potential inclusion of birds and insects in the shortlist, as well as the possibility of highlighting endangered or lesser-known species on individual banknotes. * The Bank will consider multiple species of an animal on a single banknote, but this will be part of the final design process, with conservation status being taken into account to balance recognizability and authentication requirements. * The next steps in the process include the announcement of the theme and the launch of the second consultation on 3rd June at a nature-themed event.

Institutional context

The Bank of England's recent meeting on banknote imagery expert panel minutes highlights the significance of public engagement in shaping the design of UK banknotes. The institution's decision-making process is guided by a range of factors, including security, usability, durability, and accessibility, as well as representation of cultural and national identity. This approach reflects the Bank's commitment to creating banknotes that are not only secure but also meaningful and inclusive.

The meeting demonstrates the importance of collaboration between stakeholders, including experts from various fields, in informing the design process. The involvement of a diverse panel of individuals with expertise in wildlife, conservation, and design underscores the institution's dedication to representing the UK's rich biodiversity on its banknotes. This approach not only reflects the country's natural heritage but also provides an opportunity for public engagement and education.

The Bank of England's use of public consultations to inform its decision-making process is a notable example of its commitment to transparency and stakeholder engagement. The institution's experience with previous consultations, including the July 2025 public consultation on banknote design, has informed its approach to selecting imagery for future banknotes. This emphasis on public participation and engagement reflects the Bank's dedication to serving the needs of its customers and the broader community.

Practical considerations

Practical considerations for practitioners include understanding the evolving role of cash in society and how banknote design is influenced by security, usability, durability, accessibility, and cultural representation. The Bank's involvement of a panel of experts in selecting wildlife imagery for banknotes reflects its commitment to engaging with stakeholders and incorporating public feedback into its decision-making process.

In practice, this means that banks and other financial institutions should be prepared to adapt their cash handling practices and policies in response to changes in banknote design and security features. For example, the introduction of new anti-counterfeiting measures may require updates to internal controls and procedures for verifying the authenticity of banknotes. Additionally, the use of wildlife imagery on banknotes may raise issues related to cultural sensitivity and representation, highlighting the need for careful consideration of these factors in institutional policies and practices.

To navigate these changes effectively, practitioners should stay informed about developments in banknote design and security features through official channels and industry publications. This may involve attending relevant events, participating in online forums and discussions, or engaging with experts and thought leaders in the field of trade finance and documentary banking.

Source: Bank of England News