Commentary to the 10-Day Return Items of the NBS (valid from 01.01.1998 to 06.30.1998)

Commentary on the 10-Day Return Items of the NBS

(valid from 01.01.1998 to 06.30.1998)

A S S E T S

1 Gold

This item includes the value of gold reserve administrated by the NBS; gold used in trading (swap operations) is not included. Gold is valued at historical price.

2 Deposits with the International Monetery Fund

This item consists of receivables from the IMF resulting from membership of the Slovak Republic in the IMF. Special Drawing Rights (SDRs) within the reserve tranche are equal to the Slovak Republic’s membership quota; the SDRs correspond to the amounts paid to the IMF in relation to special drawing rights. This item includes the equivalents of the loans from IMF as well.

3 Deposits with foreign banks and internationalinstitutions

This account consists of foreign currency deposits held at foreign banks and international institutions.

4 Receivables from abroad

This item consists of NBS loans granted to customers abroad.

5 Receivables from domestic banks

This item consists of the NBS loans granted to domestic commercial banks and branch offices of foreign banks.

6 Securities

This item includes purchased securities tradeable on both domestic and foreign money and capital markets.

7 Participations

They represent the NBS’s participations inland and abroad.

8 Other assets

This item includes those assets that are not covered in above accounts, especially tangible and intangible assets, loans granted to other NBS’s customers, as well as total advance payments.

L I A B I L I T I E S

1 Currency issued

This item represents the value of bank notes and coins issued by the National Bank of Slovakia.

2 Liabilities to the International MonetaryFund

This item includes deposits of the IMF held by the NBS and loans from the IMF.

3 Liabilities to foreign banks and internationalinstitutions

This item includes the deposits and loans from foreign banks and other international institutions held by the NBS, and liabilities arising from loans from foreign banks and international institutions.

4 Securities issued

This item cosists of long-, medium- and short-term securities issued by the NBS in the SR and abroad.

5 Liabilities to domestic banks

They represent the deposits of commercial banks; the greater portion of these deposits are required minimum reserve deposits.

6 Liabilities to the State

This item represents the liabilities resulting from the state current economy and the debt service financing, as well as the state funds deposits in special earmarked accounts.

7 Other liabilities

This item consists of liabilities not included in other accounts. It represents especially the bank’s reserve against losses, the social fund, the remuneration fund, current liabilities to suppliers, emplolyees and third persons, as well as deposits of other NBS’s customers..

8 Net Equity

Net equity represents Bank’s assets share after deducting liabilities. This item includes paid-in own capital, general reserve fund and capital fund. Other reserve funds and the profit made in the current year are covered in “Other own resources”.