The following data are from the Central Bank of Iceland's Balance Sheet
as at the end of December 2003 with comparative figures for the end of December
2002 and changes within the month and from the beginning of 2003.
Since
the accounts and audit for the year have not been completed, the figures for the
end of December 2003 are provisional and may be subject to change.
The
Central Bank's foreign reserves increased by 0.3 b.kr. and amounted to 58.1
b.kr. at the end of December (equivalent to 819 m. US dollars at the exchange
rate at the end of the month). The Bank now has no foreign short-term
liabilities in connection with its foreign reserves; at the beginning of the
year these liabilities amounted to just over 16 b.kr.
In December, the
Central Bank purchased currency in the domestic interbank market for 3.7 b.kr.,
which is consistent with the measures to strengthen its external position as
described inter alia in the May 2003 issue of the Bank's Monetary Bulletin. The
Central Bank has purchased currency in the domestic interbank market for 43.2
b.kr. over the year. The Icelandic króna strengthened by 1.4% in December and by
1.2% over the year as a whole.
Market value of listed securities in the
Bank's portfolio was 3.9 b.kr. at the end of December. Of this figure, listed
Treasury securities amounted to 0.7 b.kr.
Central Bank claims on deposit
money banks decreased by 17.6 b.kr. in December and amounted to 24 b.kr. at the
end of the month. Claims on other financial institutions rose slightly and stood
at 4 b.kr. at the end of the month.
Deposits of DMBs decreased by 16.7
b.kr. during the month. In December, the minimum reserve requirement was
lowered, sight deposits were converted to deposits with reserve provisions, and
special reserve accounts were closed.
Net claims on central government
increased by 3.1 b.kr. in December and the Treasury's net deposit at the end of
the month stood at 22.1 b.kr.
Base money decreased by 11.6 b.kr. during
the month and amounted to 21.7 b.kr. at the end of December.
For further
information, contact the Governors of the Central Bank of Iceland and Erla
Árnadóttir, Chief Accountant, tel. (+354) 569-9600.
Press release with table (pdf-84kb)
No. 2/2004
January 9, 2004