Annual Report 2004

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