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The following
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The Central
Bank's foreign reserves declined slightly and amounted to 36.5 b.kr. at the end
of July (equivalent to 471 m.
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