Annual Report 2004

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x = No data can be indicated technical reasons .. = Data not available at the reporting date 0 = The numerical value is zero or smaller than half of the unit indicated — = The numerical value is zero (applicable to the Financial Statements) Discrepancies may arise from rounding. Legend Annual Report 2004 × 123
Glossary ARTIS: Austrian Real Time Interbank Settlement. The real-time gross settlement (RTGS) system for euro payments developed and operated by the Oesterreichische Nationalbank (OeNB) that forms the Austrian component of the EU-wide large-value euro payment system TARGET run by the European System of Central Banks (ESCB). Since January 4, 1999, ARTIS users have been able to channel intra-EU payments through a single account at the OeNB. BIC: Bank Identifier Code. Eight-digit code devised by SWIFT, the international messaging system for cross-border payments, that unambiguously identifies participants of payment systems. It is composed of the following three subcodes: (1) the bank code (first 4 digits), (2) the country code (next 2 digits), and (3) the location code (last 2 digits). NABAATWW is, for instance, the BIC of the Oesterreichische Nationalbank. Budget balance: general government net lending/net borrowing, i.e. the balancing item of the financial account as defined in ESA 1995 (the European System of Accounts), which represents either a financial surplus (net lending) or a financial deficit (net borrowing). AustriaÕs general government sector comprises the central government (including various nonprofit organizations), state government and local government as well as social security funds. The budget balance may be broken down into a cyclical component and a structural, cyclically adjusted component. Capital adequacy: the minimum amount of own funds that banks must hold relative to their assets to cover their exposure to risk. The capital adequacy framework (Basel I, Basel II) of the Basel Committee on Banking Supervision (BCBS) prescribes a capital ratio of 8%. Clearing: the process of reconciling and netting payment orders in a net settlement system. Confidence indicator: also referred to as sentiment indicator. Measure reflecting businessesÕ or the publicÕs assessment of the economic situation, which serves to e.g. identify cyclical turning points at an early stage. Convergence criteria: five requirements that are laid down in the Maastricht Treaty and that an EU Member State must fulfill to qualify for participation in Stage Three of Economic and Monetary Union (EMU), i.e. for the introduction of the euro: (1) an inflation rate not more than 1.5 percentage points above that of the three best-performing Member States in terms of price stability, (2) a long-term interest rate not more than 2 percentage points above that of the three best-performing Member States, (3) a government deficit which does not exceed 3% of GDP, (4) a ratio of public debt to GDP which does not exceed 60%, unless the ratio is sufficiently diminishing and approaching the reference value at a satisfactory pace, and (5) currency variations within the normal fluctuation margins of the Exchange Rate Mechanism II (ERM II) for at least two years and no devaluation against the currency of any other Member State. 124 × Annual Report 2004
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√ Oesterreichische Nationalbank S
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ˆ Report on the Financial Year 200
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In 2004 the global economy expanded
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Financial Statements of the Oesterr
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GeneralCouncil(Generalrat),StateCom
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Organization Chart President Herber
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ˆ Report of the Governing Board (D
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The Eurosystem Secures Price Stabil
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The OeNB as a Competent Partner in
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Competition and transparency in cas
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Integration of Payment Services in
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ÒStability and SecurityÓ — the
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The OeNBÕs Information Policy —
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The OeNBÕs Information Policy —
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The OeNB — An Innovative, Dynamic
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The OeNB — An Innovative, Dynamic
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Page 78 and 79: ˆ Financial Statements of the Oest
Page 80 and 81: Liabilities December 31, 2004 Decem
Page 82 and 83: Notes to the Financial Statements 2
Page 84 and 85: Future market developments, especia
Page 86 and 87: The strategic measures are compleme
Page 88 and 89: Development of the OeNBÕs Currency
Page 90 and 91: SDRs equivalent to EUR 38.831 milli
Page 92 and 93: 4 Claims on non-euro area residents
Page 94 and 95: such credit is provided not by the
Page 96 and 97: 9.1 Participating interest in the E
Page 98 and 99: 9.2 Claims equivalent to the transf
Page 100 and 101: Equipment developed as follows: Cos
Page 102 and 103: 11.6 Sundry Sundry assets comprise
Page 104 and 105: The table below shows the annual av
Page 106 and 107: 11 Items in course of settlement Cl
Page 108 and 109: 13 Provisions Under the OeNBÕs ini
Page 110 and 111: 15 Capital and reserves A summary o
Page 112 and 113: Notes to the Profit and Loss Accoun
Page 114 and 115: ance with Article 69 paragraph 1 of
Page 116 and 117: Governing Board (Direktorium) Gover
Page 118: Profit for the Year and Proposed Pr
Page 122 and 123: ˆ Notes
Page 126 and 127: Core inflation: inflation measure t
Page 128 and 129: Primary balance: government net bor
Page 130 and 131: Periodical Publications of the Oest
Page 132 and 133: Artwork All artwork featured in thi
Page 134: The Annual Report of the OeNB provi
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Annual Report 2004

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