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Financial Statements<br />
2.2 Deposit facility<br />
The deposit facility refers to overnight<br />
deposits placed with the OeNB by<br />
AustrianbanksthataccesstheEurosystemÕs<br />
liquidity-absorbing standing<br />
facility at the prespecified rate. In<br />
<strong>2004</strong>, the volume of such transactions<br />
averaged EUR 18.319 million.<br />
5 Liabilities to other euro area<br />
residents denominated in euro<br />
Closing balance Dec. 31, <strong>2004</strong> EUR 7.626 million<br />
Closing balance Dec. 31, 2003 EUR 18.485 million<br />
Change —EUR 10.859 million<br />
—58.7%<br />
This item comprises general government<br />
deposits of EUR 6.903 million<br />
and current account deposits of<br />
credit institutions that are not subject<br />
to minimum reserve requirements<br />
and of nonbanks.<br />
6 Liabilities to non-euro area<br />
residents denominated in euro<br />
Closing balance Dec. 31, <strong>2004</strong> EUR 6.293 million<br />
Closing balance Dec. 31, 2003 EUR 2.378 million<br />
Change +EUR 3.915 million<br />
+164.7%<br />
This item contains euro-denominated<br />
liabilities to non-Eurosystem<br />
central banks and monetary institutions.<br />
9 Counterpart of Special Drawing<br />
Rights allocated by the IMF<br />
Closing balance Dec. 31, <strong>2004</strong> EUR 204.040 million<br />
Closing balance Dec. 31, 2003 EUR 210.915 million<br />
Change —EUR 6.875 million<br />
—3.3%<br />
This item represents the counterpart<br />
in euro of the SDR 179 million<br />
allocated gratuitously to the OeNB,<br />
measured at current market values<br />
on the balance sheet date. The OeNB<br />
was allocated SDRs in six installments<br />
from 1970 to 1972 and from<br />
1979 to 1981, always on January 1.<br />
10 Intra-Eurosystem liabilities<br />
Closing balance Dec. 31, <strong>2004</strong> EUR 9,000.500 million<br />
Closing balance Dec. 31, 2003 EUR 3,063.716 million<br />
Change +EUR 5,936.784 million<br />
+193.8%<br />
In the financial statements for<br />
<strong>2004</strong>, this item shows the net<br />
liabilities arising from balances of<br />
TARGET accounts with the 11 other<br />
Eurosystem central banks as well as<br />
the remaining 3 ESCB central banks<br />
(the Bank of England, Sveriges Riksbank<br />
and Danmarks Nationalbank)<br />
on the one hand and with the ECB<br />
on the other hand. Moreover, this<br />
item covers the net result at yearend<br />
of the difference between monetary<br />
income to be pooled and distributed,<br />
the balances arising from the<br />
redistribution of ECB seignorage income<br />
as well as the balances arising<br />
from the correspondent accounts 8 of<br />
individual NCBs.<br />
The individual bilateral end-ofday<br />
balances of the OeNB with the<br />
other NCBs are netted by novating<br />
them to the ECB.<br />
The ECB remunerates the net balance<br />
at the prevailing interest rate for<br />
the EurosystemÕs main refinancing<br />
operations.<br />
On December 31, 2003, this item<br />
consisted exclusively of net liabilities<br />
related to the allocation of euro banknotes<br />
within the Eurosystem.<br />
8 The correspondent accounts may be used for a limited number of transactions in case of temporary disruptions of<br />
TARGET.<br />
104 ×<br />
<strong>Annual</strong> <strong>Report</strong> <strong>2004</strong>