THE CNB TEN-DAY BALANCE SHEET - commentary
The CNB ten-day balance sheet is compiled in accordance with Article 48 of Act No. 6/1993 Coll., on the Czech National Bank, as of the 10th and 20th day of each month and as of the end of each month. The balance sheet is published on pre-announced dates – normally on the 3rd business day after the end of the first and second 10-day periods of the month, on the 4th business day after the end of the current month and usually eight business days after the end of the year.
The data published in the CNB ten-day balance sheet contain the operations recorded by the end of the business day immediately preceding the publication date, and thus express the current stock of assets and liabilities of the CNB as of the publication date. As the CNB’s accounting period is the calendar year and the settlement of all closing operations exceeds a period of eight business days, the ten-day balance sheet as of the end of the year does not contain all the accounting operations of the given year as they are subsequently recorded in the annual accounts. A column has therefore been added to the archive of ten-day balance sheets containing data from the financial statements according to the audited stocks since 2009, since when the published ten-day balance sheet has had the same structure as the financial statements.
Reserves in gold ingots, embossed and other gold. Gold is valued at historical cost and for the purpose of calculating international reserves is valued at market price.
The membership deposit, the reserve position, funds in Special Drawing Rights (SDR) and loans provided to the IMF. The membership quota at the IMF consists of the membership deposit and the reserve position. The membership deposit is converted into CZK at a rate set by the IMF. The reserve position is calculated as the difference between the membership quota and the sum of CZK held by the IMF.
Current accounts and deposit accounts with foreign banks and other international financial institutions, as well as collateral in the form of funds received under contracts on derivative transactions. These assets are part of international reserves.
Purchased securities classified as available for sale bonds and stocks classified in the portfolio valued at fair value through profit or loss, as well as bonds provided as collateral. These assets are part of international reserves.
Loans provided to foreign banks and other international financial institutions outside the IMF (usually based on reverse repos) and foreign notes and coins. These assets are part of international reserves.
Loans provided to domestic banks, foreign bank branches and credit unions operating on domestic market (usually based on reverse repo transactions) and collateral provided in switch collateral transactions.
Claims on the state.
Tangible and intangible assets at residual cost, advances provided for property acquisition, and collections of precious-metal coins.
Stocks and shares in companies in which CNB has no control, and membership in such companies (such as the ECB, BIS and SWIFT).
Negative valuation differences arising from the revaluation of available for sale securities to fair value, and exchange rate losses from the recalculation of the capital and shares representing the participations of the ECB, BIS and SWIFT.
Advances provided on issued guarantees, raw material inventory, claims on employees and customers, positive fair values of fixed term transactions, accrual accounts and other temporary active accounts. This item also includes loans to former banks connected with the consolidation of the banking sector. The value of these claims is reported together with adjustments.
Issued Czech banknotes and coins held by commercial banks and the public.
Deposits in CZK and the long-term commitment to the IMF connected with SDR allocations.
Loans from foreign banks and other foreign financial institutions outside the IMF, usually based on repo transactions.
Liabilities to foreign banks and other foreign financial institutions as deposits and collateral received in the form of funds received under contracts on derivatives transactions.
Loans received from domestic banks, foreign bank branches and credit unions operating on domestic market, usually based on repo transactions with CNB bills (or other eligible securities) as collateral, and other loans received from banks, foreign bank branches and credit unions operating on domestic market.
Deposits of domestic banks, foreign bank branches and credit unions operating on domestic market held on CNB interbank settlement system accounts and balances on accounts for cash deposit and withdrawal operations.
Other deposits from domestic banks, foreign bank branches and credit unions operating on domestic market in connection with automatic facilities for depositing liquidity overnight, including collateral received in cash for repo transactions in the form of collateral switch transactions.
The Single Treasury Account under Article 33 of the Budgetary Rules (Act No. 218/2000 Coll.), state funds, other extra-budgetary resources of the state, deposits from the EU, funds of The Financial Market Guarantee System ( Act No. 374\2015 Coll.), and other liabilities to other public institutions.
Other liabilities, notably to the European Commission, deposits and liabilities to employees, liabilities to suppliers, advances received in connection with a state guarantee, accrual liability accounts, and other temporary passive accounts.
Reserves to cover existing liabilities.
Equity capital and reserve funds created from profits.
Positive valuation differences arising from the revaluation of available for sale securities to fair value, and exchange rate profits from the recalculation of the capital and shares representing the participations of the ECB, BIS and SWIFT.
Accumulated losses from previous years.
Profit or loss for the current year. Assets and liabilities denominated in foreign currencies are converted to CZK using the exchange rate effective at the end of the calendar month.