Statement from the 11th Meeting of the Bank Board of the NBS

The 11th Meeting of the Bank Board of Narodna banka Slovenska was held on 18 March 2008 chaired by Ivan Sramko, Governor.

The Bank Board of the NBS approved the Financial Statements of Narodna banka Slovenska as at 31.12.2007, and took note of the Report of Independent Auditors prepared by the auditing company Ernst & Young Slovakia, s.r.o.
The audit was conducted in accordance with International Standards on Auditing and the auditors expressed in their report the opinion that the financial statements present fairly, in all material respects, the financial position of Narodna banka Slovenska as at 31 December 2007 and the results of its operations for the above-stated year, in accordance with the Accounting Act of the Slovak Republic and ECB Guidelines.

The Report on the Results of Operation of Narodna banka Slovenska in 2007, Report of the Independent Auditors, and the Financial Statements of Narodna banka Slovenska will be jointly submitted to Narodna rada Slovenskej republiky (Slovak Parliament). The Bank Board discussed and approved the Report on the Results of Operation of the NBS for 2007. The Report will be submitted to Narodna rada Slovenskej republiky (Slovak Parliament) by 31 March 2008.

Narodna banka Slovenska showed a loss in the year 2007 in the amount of SKK 19.5 billion. The Bank Board decided that the loss will remain unsettled and will be covered from the future profits and from the NBS´s own funds. The Bank Board discussed and approved the draft Decree of Narodna banka Slovenska from./2008 on own funds of a pension asset management company. The purpose of the Decree is to stipulate the definition of the own funds which a pension asset management company is obliged to observe, the method of the calculation of the own funds´ amount, the definition of general operating costs, liquid assets, commitments and claims, the method of calculation of the amount of the liquid assets and the method of showing of fulfilment of own funds´ adequacy conditions.

The Bank Board of Narodna banka Slovenska, pursuant to Article 35 paragraph 2 of the Act No. 747/2004 Coll. on the Supervision of the financial market and on changes and amendments of certain Acts, issued the Decree on the submitting of statements for statistical purposes by the pension asset management companies and supplementary pension companies. The Decree stipulates the content, paragraphing, deadlines, form, method, procedure and place of submitting of reports to Narodna banka Slovenska for statistical purposes by the pension asset management companies and supplementary pension companies.

Jana Kováčová
Spokesperson of the NBS

National Bank of Slovakia
Communications Section
Imricha Karvasa 1, 813 25 Bratislava, Slovak Republic
Tel.: +421-2-5787 2161,+421-2-5865 2161, +421-2-5787 2166, +421-2-5865 2166
Internet: http://www.nbs.sk

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