The following table shows the Central Bank of Iceland's Balance Sheet as at the end of November 2004 with comparative figures for the end of October 2004 and end of December 2003.
In November, the Central Bank purchased currency in the domestic interbank market for 4.9 b.kr., which is consistent with its stated strategy of strengthening its external position. The Central Bank's foreign reserves increased by 1 b.kr. to 67.1 b.kr. at the end of the month (equivalent to 1,035 m. US dollars). Changes in the reserve are explained by currency purchases, Treasury loan movements and exchange rate movements. The króna appreciated by 3% in November.
Central Bank claims on deposit money banks increased by 12.3 b.kr. in November and amounted to 32.9 b.kr. at the end of the month. Claims on other financial institutions decreased, on the other hand, by 1.5 b.kr. to 9.7 b.kr. at the end of the month.
Market value of listed securities in the Bank's portfolio was 3.1 b.kr. at the end of November.
Central Bank liabilities towards deposit money banks decreased by 3 b.kr. in November and amounted to 24.5 b.kr. at the end of the month, while liabilities towards other financial institutions increased by 24.5 b.kr.
Net deposits of central government decreased by 7.3 b.kr. during the month and stood at 9.8 b.kr. at the end of November. This figure includes prepayment of bonds amounting to 5.8 b.kr. with interest.
Base money decreased by 2.9 b.kr. in November and amounted to 35.7 b.kr. at the end of the month.
For further information, contact the Governors of the Central Bank of Iceland or Erla Árnadóttir, Chief Accountant, tel. (+354) 569-9600.
No. 34/2004
December 6, 2004