Central Bank Balance Sheet at end-April 2005
The following table shows the Central Bank of Iceland’s Balance Sheet as at the end of April 2005 with comparative figures for the end of March 2005 and end of December 2004.
In April, the Central Bank purchased currency in the domestic interbank market for 0.6 b.kr., which is consistent with its stated strategy of maintaining its external position. The Central Bank’s foreign reserves increased by 2 b.kr. to 61.5 b.kr. at the end of the month (equivalent to 974 m. US dollars at the current exchange rate). The increase is largely the result of valuation changes due to a 4.3% depreciation of the króna in April.
Central Bank claims on deposit money banks decreased by 4.5 b.kr. in April and amounted to 17.3 b.kr. at the end of the month. Claims on other financial institutions increased by 0.4 b.kr. to 7.1 b.kr. at the end of the month.
Market value of listed securities in the Bank’s portfolio was 2.2 b.kr. at the end of April. Early redemption of housing bonds by the Housing Financing Fund has caused the Bank’s securities portfolio to decrease by 1 b.kr. since the beginning of the year.
Central Bank liabilities towards deposit money banks decreased by 4.4 b.kr. in April and amounted to 14.6 b.kr. at the end of the month, while there was little change in liabilities towards other financial institutions.
Net deposits of central government decreased by 0.7 b.kr. during the month and stood at 22.5 b.kr. at the end of April.
Base money decreased by 4.3 b.kr. in April and amounted to 26 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.
May 6, 2005