Meginmál

Highlights from the Central Bank of Iceland Balance Sheet

NOTE: This article is from 11. August 2003 and is therefore more than 5 years old.

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The following data are from the Central Bank of <'xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Iceland's Balance Sheet as at the end of July 2003 with comparative figures for the end of December 2002 and changes within the month and from the beginning of 2003.

The Central Bank's foreign reserves declined slightly and amounted to 36.5 b.kr. at the end of July (equivalent to 471 m. US dollars at the exchange rate at the end of the month). Foreign short-term liabilities decreased by 4.1 b.kr. during the month and amounted to 0.3 b.kr. at the end of June.

In July, the Central Bank purchased currency in the domestic interbank market for 4.4 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 0.5% in June.

Market value of listed securities in the Bank's portfolio was 4.3 b.kr. at the end of July. Of this figure, listed Treasury securities amounted to 1.2 b.kr.

Central Bank claims on deposit money banks increased by 4.1 b.kr. in July and amounted to 70 b.kr. at the end of the month. Claims on other financial institutions remained unchanged at 8 b.kr. at the end of the month. 

Net claims on central government decreased by 4.2 b.kr. in July and the Treasury's net deposit at the end of the month stood at 28.7 b.kr.

Base money increased by 3.5 b.kr. during the month and amounted to 37.8 b.kr. at the end of July.

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

July

From

beginning

In

Assets :

2002

2003

of year

July

 

 

 

 

 

Foreign reserves

37,194

36,502

-693

-381

   Gold

1,727

1,731

4

67

   Foreign exchange

33,418

32,762

-656

-463

   SDR

12

7

-5

0

   Reserve position in the IMF

2,038

2,002

-36

15

Listed securities

5,260

4,277

-983

-51

   Treasury

1,816

1,215

-600

6

   Other

3,445

3,061

-383

-57

Claims on DMBs

69,141

66,989

-2,151

4,146

Claims on other financial institutions

8,227

8,006

-221

-19

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

Foreign short-term liabilities

16,499

278

-16,220

-4,052

Notes and coin

9,590

10,555

965

620

Sight deposits of DMBs

1,164

624

-541

-1,971

Required reserves of DMBs

21,837

26,638

4,802

4,829

Sight deposits of other financial institutions

75

16

-59

3

Required reserves of other financial institutions

1,258

954

-304

168

 

 

 

 

 

Memorandum items:

 

 

 

 

   External reserve, net

20,696

36,224

15,528

3,671

   Claims on central government, net

-20,846

-28,671

-7,825

-4,216

   Other claims, total

77,454

75,102

-2,352

4,116

   Base money

32,590

37,816

5,226

3,477

 

 

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, net: 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. 14/2003

7 August 2003