Annual Report 2004

Financial Statements
11.3 Other financial assets
Other financial assets comprise the
following accounts:
Dec. 31, 2003 Dec. 31, 2004 Change
EUR million EUR million EUR million %
Securities 6,555.781 6,020.453 —535.328 —8.2
Participating interests 818.481 814.355 —4.126 —0.5
Other investments 469.554 341.791 —127.763 —27.2
Total 7,843.816 7,176.599 —667.217 —8.5
Of the OeNBÕs securities portfolio,
EUR 1,592.591 million represented
investments of the pension
reserve, another EUR 1,342.658
million reflect investments of the
OeNB Anniversary Fund for the Promotion
of Scientific Research and
Teaching (of which EUR 1,295.761
million were earmarked as an endowment
for the National Foundation for
Research, Technology and Development,
also referred to in brief as
the National Foundation). Moreover,
the securities portfolio related to
capital and reserves, i.e. the OeNBÕs
own funds management, came to
EUR 3,085.203 million. 5 Revaluations
of the portfolios resulted in
unrealized valuation gains of EUR
92.196 million and unrealized price
losses of EUR 0.596 million as well
as unrealized foreign currency gains
of EUR 1.836 million.
Of the participating interests, EUR
511.750 million formed part of the
own funds portfolio and EUR
302.605 million formed part of the
investment portfolio relating to investments
of the pension reserve.
Other investments include investments
of the pension reserve (EUR
73.297 million), investments to
promote the National Foundation
(EUR 222.902 million), investments
of the initial OeNB Anniversary Fund
(i.e. excluding the National Foundation;
EUR 8.262 million) and the
own funds portfolio (EUR 37.331
million) and consisted mainly of overnight
funds.
Participating interests developed as
follows:
EUR million
Net asset value on Dec. 31, 2003 818.481
Purchases in 2004 0.419
Sales in 2004 (at book value) 0 1
Annual depreciation in 2004 0.992
Revalutation in 2004 —3.553
Net asset value on Dec. 31, 2004 814.355
1
The balance between the book value of the sales and the underlying
historical costs is EUR 0.008 million.
5 The own funds of the OeNB shown under liabilities include its capital, the general reserve fund, the freely
disposable reserve fund, the reserve for nondomestic and price risks, earmarked ERP capital funded with net
interest income from loans, the reserve fund for exchange risks and general provisions, above all provisions
for exchange rate risks and provisions for general banking risks.
100 ×
Annual Report 2004