Since mid-1995 the Central Bank has published monthly
highlights from its Balance Sheet for the end of the preceding month. Instead of
highlights, the Central Bank will henceforth publish its full Balance Sheet
after the end of each month. As before, this will be published in a press
release posted on the Bank's website, but other regular distribution and
publication of the Balance Sheet will be discontinued at the same time. As a
rule data will be presented from the end of the last month, the end of the month
preceding that and the beginning of the year, along with data on changes in
individual items. A different arrangement will be followed when the Balance
Sheet is published for the end of January.
Central Bank Balance Sheet at end-January 2004
The following table shows
the Central Bank of Iceland's Balance Sheet as at the end of January 2004 with
comparative figures for the end of December 2003 and end of December
2002.
The Central Bank's foreign reserves decreased in January by 1.7
b.kr. and amounted to 56.4 b.kr. at the end of the month (equivalent to 812 m.
US dollars at the exchange rate at the end of the month).
In January,
the Central Bank purchased currency in the domestic interbank market for 7
b.kr., which is consistent with the measures to strengthen its external position
as described inter alia in the November 2003 issue of the Bank's Monetary
Bulletin. Of this total, 5.5 b.kr. were purchased in a single trade with one of
the foreign exchange market makers. Under a currency swap agreement made at the
same time the Central Bank sold the market maker the equivalent of 6.9 b.kr. in
US dollars, which the Bank will repurchase in April this year.
The
Icelandic króna strengthened by 3.3% in January.
Market value of listed
securities in the Bank's portfolio was 3.9 b.kr. at the end of January. Of this
figure, listed Treasury securities amounted to 0.7 b.kr.
Central Bank
claims on deposit money banks increased by almost 18 b.kr. in January and
amounted to 42 b.kr. at the end of the month. Claims on other financial
institutions also rose slightly and stood at 4.8 b.kr. at the end of the
month.
Net claims on central government decreased by 7.8 b.kr. in January
and the Treasury's net deposit at the end of the month stood at 30 b.kr.
Base money increased by 10.7 b.kr. during the month and amounted to 32.4
b.kr. at the end of January.
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 123kb)
No. 4/2004
February 5, 2004