Commentary to the 10-Day Balance Sheet Items (valid from 01.01.2004 to 04.20.2004)

Notes on the 10-Day Balance Sheet Items

(valid from 01.01.2004 to 04.20.2004)

A S S E T S

1 Gold

This item includes the value of the gold reserves administered by the National Bank of Slovakia (NBS).

2 Deposits with the International Monetary Fund in foreigncurrency

Slovak Republic’s membership quota paid in foreign currency.

3 Deposits with foreign banks and international institutionsin foreign currency

Foreign currency deposits held at foreign banks and international finance institutions, and paid up share of the ECB capital.

4 Claims on abroad in foreign currency

Foreign currency loans made by the NBS to clients abroad.

5 Claims on domestic financial institutions

This item consists of NBS loans in Slovak crowns and foreign currency granted to financial institutions, banks and branch offices of foreign banks.

6 Securities

This item includes securities owned by the NBS.

7 Participations

This item represents the NBS equity participations inland and abroad.

8 Claims on the general government

Resources granted to the general government units, which are not components of the State Treasury. Claims on general government include delimited part of redistributed loans, which have been taken over from the banking sector and granted by the former State Bank of Czechoslovakia.

9 Other assets

This item includes tangible and intangible assets net of accumulated depreciation, loans granted to other NBS clients, and assets that are not covered in above accounts.

L I A B I L I T I E S

1 Currency in circulation

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

2 Liabilities to the International Monetary Fund in foreigncurrency

This item represents the reserve tranche position. The IMF loan can be drawndown up to the point of this amount.

3 Liabilities to foreign banks and internationalinstitutions

This item includes deposits in foreign currency and Slovak crowns from foreign banks and international institutions held by the NBS, and foreign currency liabilities arising from loans from foreign banks and international institutions.

4 Securities issued

This item consists of long- and short-term securities issued by the NBS in the SR and abroad. The value of NBS bills issued is offset by the NBS bills in portfolio.

5 Liabilities to domestic financialinstitutions

This item includes deposits of financial institutions, banks and branch offices of foreign banks; the greater portion of these deposits are required reserves.

6 Liabilities to the State Treasury

Liabilities resulting from the current performance of the State budget, debt service financing, delimited extra budgetary resources and the settlement of special operations with resources of the Slovak Republic.

7 Liabilities to the general government

They include deposits of local government and resources of general government units, which are not components of the State Treasury.

8 Other liabilities

This item consists of liabilities not included in other accounts. In addition to deposits of other NBS clients, it includes bank reserves, current liabilities to suppliers, employees and third persons.

E Q U I T Y

The difference between assets and liabilities of the NBS. This item consists of the funds, income of the current year and income of the last years.