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The following
data are from the Central Bank of <'xml:namespace prefix = st1 ns =
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The Central
Bank's foreign reserves decreased by 1.6 b.kr. from the previous month and
amounted to 36.9 b.kr. at the end of May (equivalent to 518 m.
In May, the Central Bank
purchased currency in the domestic interbank market for 2.8 b.kr., which is
consistent with the measures to strengthen its external position as described
inter alia in the May issue of the Bank's Monetary Bulletin. Despite the currency purchases, the foreign
reserves declined, as a result of Treasury loan
movements, a decrease in the Bank's foreign short-term liabilities and the
strengthening of the króna by just over 1% in May.
Market value of listed securities in the Bank's
portfolio was 4.3 b.kr. at the end of May. Of this figure, listed Treasury
securities amounted to 1.2 b.kr.
Central Bank
claims on deposit money banks declined by 4.7 b.kr. in May and amounted to 66.3
b.kr. at the end of the month. Claims on other financial institutions went down
by 0.5 b.kr. to 7.9 b.kr. at the end of the month.
Net claims on central government
rose by 0.1 b.kr. in May and the Treasury's net deposit at the end of the month
stood at 25.8 b.kr.
Base money decreased by 4.2 b.kr.
during the month and amounted to 32.6 b.kr. at the end of May.
For further
information, contact the Governors of the Central Bank of Iceland and Erla
Árnadóttir, Chief Accountant, tel. (+354) 569-9600.
Central Bank of
in million kr.
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Changes in
2003
December
May
From beginning
In
Assets :
2002
2003
of
year
May
Foreign reserves
37,194
36,924
-271
-1,575
Listed
securities
5,260
4,286
-974
-535
Treasury
1,816
1,194
-622
10
Other
3,445
3,092
-353
-544
Claims on DMBs
69,141
66,255
-2,886
-4,703
Claims on other financial
institutions
8,227
7,890
-337
-477
Liabilities:
Foreign short-term
liabilities
16,499
9,857
-6,642
-1,203
Notes and coin
9,590
9,669
80
248
Sight deposits of
DMBs
1,164
1,593
429
-459
Required reserves of
DMBs
21,837
21,371
-466
-3,993
Ordinary deposits of other
financial institutions
75
11
-64
-86
Required reserves of other
financial institutions
1,258
672
-585
-40
Memorandum
items:
External reserve,
net
20,696
27,067
6,371
-372
Claims on central
government, net
-20,846
-25,830
-4,984
55
Other claims,
total
77,454
74,253
-3,201
-5,181
Base
money
32,590
32,633
43
-4,203
Definitions
Foreign
reserves: Total
currency assets of the Central Bank.
Listed securities, Treasury: Assets in the form of Treasury bonds, Treasury
bills and Treasury notes. Listed
securities, Other: Housing bonds and housing authority bonds. Claims on DMBs: The Bank's net claims on
deposit money banks. Claims on other
financial institutions: Net claims. Foreign short-term liabilities:
Occasional short-term borrowing by the Central Bank, for purposes including to
strengthen its foreign reserves. Notes
and coin: Total notes and coins in circulation outside the Central Bank. Sight deposits of DMBs and other financial
institutions: Deposits in current accounts with the Central Bank. Required reserves of DMBs and other
financial institutions: Reserves that these institutions are obliged to
maintain with the Central Bank in accordance with requirements set by the Bank.
Memorandum
items. External reserve, net: Foreign current assets less foreign
current liabilities. Claims on central
government: i.e. liabilities of these entities towards the Central Bank less
their deposits with it. Other claims,
total: Total claims on other institutions than central government. Base money: Notes and coin in
circulation, and deposits and reserves of DMBs with the Central
Bank.
No. 9/2003