Statement from the 11th Meeting of the Bank Board of Národná banka Slovenska
The 11th meeting of the Bank Board of Národná banka Slovenska was held today (13 March 2012) and was chaired by Jozef Makúch, the NBS Governo
The Bank Board approved the audited financial statements of Národná banka Slovenska prepared as at 31 December 2011.
NBS reported a loss of €76,734,000 for 2011 (compared to a loss of €515,173,000 for 2010). As decided by the Bank Board, the loss will be reclassified to accumulated losses and will be covered by future profits of NBS.
The central bank’s financial result for 2011 was impaired by unrealised valuation losses amounting to €461,988,000 (compared to €673,530,000 in 2010); these were related to the movement of financial instrument market prices, which declined due to the crisis in European financial markets.
The main source of income for NBS in 2011 was interest income from bonds amounting to €629,631,000 (compared to €417,293,000 in 2010) and interest income from derivatives amounting to €337,814,000 (€221,338,000 in 2010).
The NBS results for 2011 included a share of the net profit of the European Central Bank (ECB) for 2010, in the amount of €1,697,000. The net income of NBS from Eurosystem monetary income for 2011 was €15,408,000 (compared to €6,192,000 in 2010). At the end of each financial year, the monetary income of the national central banks from the implementation of monetary policy tasks is redistributed among the NCBs in proportion to their paid-up shares in the capital of the ECB, in accordance with Article 33.2 of the Protocol on the Statute of the European System of Central Banks and of the European Central Bank. For the remuneration of its claim arising from the transfer to the ECB of foreign reserves amounting to €399,444,000, NBS received interest payments from the ECB amounting to €4,301,000 (€3,442,000 in 2010).
NBS reported net operating expenses of €60,073,000 in 2011 (€57,005,000 in 2010), and its net expenses related to the production of euro banknotes and coins represented €5,868,000 (€12,337,000 in 2010).
The annual financial statements of Národná banka Slovenska, together with the independent auditors’ report and the NBS management report for 2011, will be submitted to the National Council of the Slovak Republic.
The annual financial statements of NBS and the independent auditors’ report will be published in the NBS Annual Report for 2011.
The Bank Board approved the announcement on the issue of a €10 silver collector coin commemorating Master Pavol of Levoča and his work.
This euro collector coin is made of an alloy containing 900 parts silver and 100 parts copper; it weighs 18 grams, measures 34 millimetres in diameter, and was designed by Mária Poldaufová.
The coin was produced by the state-owned mint Mincovňa Kremnica and it is due to go on sale in May 2012.
The Bank Board approved the announcement on the issue of a €10 silver collector coin commemorating the 250th anniversary of the birth of Chatam Sofer.
This euro collector coin is made of an alloy containing 900 parts silver and 100 parts copper; it weighs 18 grams, measures 34 millimetres in diameter, and was designed by Pavel Károly.
The coin was produced by the state-owned mint Mincovňa Kremnica and it is due to go on sale in June 2012.
Petra Pauerová
Spokesperson of the NBS
National Bank of Slovakia
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