The following
data are from the Central Bank of
The Central
Bank's foreign reserves remained virtually unchanged and amounted to 36.9 b.kr.
at the end of June (equivalent to 483 m.
In June, the Central Bank
purchased currency in the domestic interbank market for 3.5 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. The Icelandic króna
weakened by 4.3% in
June.
Market value of listed securities in the Bank's
portfolio was 4.3 b.kr. at the end of June. Of this figure, listed Treasury
securities amounted to 1.2 b.kr.
Central Bank
claims on deposit money banks declined by 3.4 b.kr. in June and amounted to 62.8
b.kr. at the end of the month. Claims on other financial institutions increased
marginally to 8.0 b.kr. at the end of the month.
Net claims on central government
rose by 1.4 b.kr. in June and the Treasury's net deposit at the end of the month
stood at 24.5 b.kr.
Base money increased by 1.7 b.kr.
during the month and amounted to 34.4 b.kr. at the end of June.
For further
information, contact the Governors of the Central Bank of Iceland and Erla
Árnadóttir, Chief Accountant, tel. (+354) 569-9600.
End of
period
Changes in
2003
December
June
From
beginning
In
Assets :
2002
2003
of
year
June
Foreign reserves
37,194
36,883
-312
-43
Gold
1,727
1,663
-63
42
Foreign exchange
33,418
33,225
-193
-191
SDR
12
7
-5
0
Reserve position in the IMF
2,038
1,987
-51
105
Listed
securities
5,260
4,328
-932
42
Treasury
1,816
1,209
-606
16
Other
3,445
3,119
-326
27
Claims on DMBs
69,141
62,844
-6,297
-3,411
Claims on other financial
institutions
8,227
8,025
-202
135
Liabilities:
Foreign short-term
liabilities
16,499
4,330
-12,169
-5,527
Notes and coin
9,590
9,935
345
266
Sight deposits of
DMBs
1,164
2,595
1,430
1,001
Required reserves of
DMBs
21,837
21,809
-27
439
Sight deposits of other financial
institutions
75
13
-63
1
Required reserves of other
financial institutions
1,258
786
-472
113
Memorandum
items:
External reserve,
net
20,696
32,553
11,857
5,484
Claims on central
government, net
-20,846
-24,455
-3,609
1,375
Other claims,
total
77,454
70,986
-6,469
-3,268
Base
money
32,590
34,339
1,749
1,706
Definitions
Foreign
reserves: Total
currency assets of the Central Bank.
Foreign exchange: The Central
Bank's deposits with foreign banks and its foreign securities portfolio. Reserve position in the IMF: Net reserve
in the IMF. 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. 12/2003