As from January 2009, the Czech National Bank has made minor changes to the structure of its ten-day balance sheet, which is published in compliance with Act No. 6/1993 Coll., on the CNB (Article 48(5)). The new structure corresponds more closely to the breakdown and reporting details of the CNB’s financial statements and also to the content of the data published within the Eurosystem. The most important change consists in an extension of the largest asset and liability items, i.e. receivables from abroad and liabilities to domestic banks.

The balance sheet will be published on dates notified in advance and solely in CZK millions. The balance sheet structure will thus better show the fulfilment of the CNB’s statutory obligations, particularly its issuing activity, monetary policy and services for the state.

Pavlína Bolfová
CNB spokesperson

The balance sheet as of 31 December 2008 in the new breakdown (pdf, 11 kB)

The content of the CNB ten-day balance sheet items
as from 2009

A 1 Gold
Gold reserves in coin and bar form managed by the CNB. The gold is currently valued at historic cost; for the purposes of calculating international reserves it is valued at market price.

A 2 Receivables from the IMF
The IMF quota paid in CZK and the reserve position, i.e. funds with the IMF exceeding the quota and the bank’s funds in Special Drawing Rights (SDR) deposited with the IMF. The quota is denominated in SDR and converted into CZK at a rate set by the IMF.

A 3.1 Deposits with foreign banks
The sum of funds on time deposits and current accounts with foreign correspondents (nostro accounts). The assets here are part of the CNB’s international reserves.

A 3.2 Securities
Purchased available-for-sale bonds and shares measured at fair value against expense or income accounts. The data are reported after revaluation to fair value and including accrued interest income. The assets here are part of the CNB’s international reserves.

A 3.3 Other receivables from abroad
Funds deposited in reverse repos and foreign exchange held by the CNB. The assets here are part of the CNB’s international reserves.

A 4 Receivables from domestic banks
Credit provided to domestic banks.

A 5 Receivables from the state
Any receivables from the state.

A 6 Fixed assets
Tangible and intangible assets at residual cost, advances provided for property acquisition and collections of precious-metal coins.

A 7.1 Other financial assets
The equity share in the ECB, and shares and participating interests in the available-for-sale portfolio.

A 7.2 Securities valuation differences
Negative valuation differences arising from the revaluation of available-for-sale securities to fair value and exchange rate losses arising from the conversion of available-for-sale shares and participating interests denominated in foreign currency to the Czech currency.

A 7.3 Other
Advances provided on guarantees issued, stocks of operating material, receivables from employees and customers, accrued expenses and deferred revenue, positive fair values from fixed-term operations and asset redistribution accounts. This item also shows loans provided to former banks in connection with the consolidation of the banking sector.

L 1 Currency in circulation
The central bank’s liability arising from issued banknotes and coins held by banks and the public.

L 2 Liabilities to the IMF
Liabilities to the IMF arising from deposits received and accounts for the settlement of transactions in line with IMF guidelines.

L 3.1 Loans received from abroad
Liabilities to foreign banks and other foreign financial institutions arising from loans received.

L 3.2 Other liabilities abroad
Liabilities to foreign banks and other foreign financial institutions arising from deposits received.

L 4.1 Loans received
Liabilities arising from repo operations using CNB bills as collateral, and loans received from domestic banks.

L 4.2 Required minimum reserves
Liabilities arising from required minimum reserves.

L 4.3 Other liabilities to domestic banks
Other deposits received from domestic banks.

L 5 Liabilities to the state and other public institutions
The summary account of the Treasury under Article 33 of the Budgetary Rules (No. 218/2000 Coll.), which shows the free liquid funds of the state, state funds deposits, other extra-budgetary funds of organisational units of the state which are not part of the Treasury summary account, deposits received from the EU for financing selected projects and other liabilities to other public institutions.

L 6 Other liabilities
Funds for drawing on the EU budget by the Czech Republic, employee and other client deposits, liabilities to suppliers and employees, advances received in connection with state guarantees, accrued expenses and deferred revenue, negative fair value from fixed-term operations and liability redistribution accounts.

L 7 Reserves
Reserves created to the debit of expenses to cover existing liabilities.

L 8 Capital and funds
Capital of CZK 1,400 million and reserve funds created from profits.

L 9 Securities valuation differences
Positive valuation differences arising from the revaluation of available-for-sale securities to fair value and exchange rate differences arising from the conversion of available-for-sale shares and participating interests denominated in foreign currency to the Czech currency.

L 10 Retained profits (accumulated losses)
Accumulated losses or retained profits from previous periods.

L 11 Profit (loss) for the accounting period
The bank’s profit/loss for the current year.