Annual Report 2004

Financial Statements
Liabilities
1 Banknotes in circulation
Closing balance Dec. 31, 2004 EUR million 13,416.143
Closing balance Dec. 31, 2003 EUR million 11,691.232
Change +EUR million 1,724.911
+14.8%
This item consists of the OeNBÕs
share of the euro banknotes in circulation
in the entire Eurosystem calculated
by applying the banknote allocation
key 6 ; it developed as follows:
Dec. 31, 2003 Dec. 31, 2004 Change
EUR million EUR million EUR million
Total value of euro banknotes in circulation
less:
14,754.948 10,541.342 —4,213.606
Liability resulting from the share allocated
to the balance sheet of the ECB (8%) —1,016.629 1
—1,166.712 2
—150.083
Liability or claim resulting from allocation
of euro banknotes within the Eurosystem (CSM) —2,047.087 1
4,041.513 2
+6,088.600
Value of euro banknotes actually put into circulation 11,691.232 13,416.143 +1,724.911
1 In 2003 this amount was shown under Intra-Eurosystem liabilities item 10.3.
2 In 2004 this amount was shown under Intra-Eurosystem claims item 9.4.
OeNB’s Banknotes in Circulation over the Past Five Years
Calendar-day volumes, EUR billion
15.0
14.0
13.0
12.0
11.0
10.0
9.0
8.0
7.0
Jan.
2000 2001 20021 Feb. Mar. Apr. May June July Aug. Sep. Oct. Nov. Dec.
2003 2004
Source: OeNB.
1 In the financial year 2002 OeNB’s banknotes in circulation included two components:
1 1. euro banknote liabilities (the 2.68% share of total banknotes in circulation allocated to the OeNB as at January 1, 2002, and subsequently as
1 at the end of the month plus cumulative transactions made by the OeNB between cutoff dates);
1 2. schilling banknotes in circulation (only until December 31, 2002).
6 This key has come to 2.6765% for the OeNB since May 1, 2004. It is calculated on the basis of the OeNBÕs
share of the paid-up capital of the ECB, of which 92% are used as a calculation basis.
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Annual Report 2004