Annual Report 2004

More documents

Recommendations

Info

note paper and the distinctive ÒraisedÓ feel produced by intaglio printing. In all known counterfeit categories, forgers have so far failed to successfully reproduce these features. While the quality of the counterfeits recovered has increased, the FEEL — LOOK — TILT test (see box 5) remains sufficient to detect euro counterfeits. To remain at the cutting edge of technical progress and innovation, banknote series are replaced at regular intervals. A key aspect in designing the new series of euro banknotes is the EurosystemÕs objective to provide state-of-the-art security features. Since banknotes are highly sophisticated products that need to be produced in large quantities, preparatory work on the next banknote series already started in 2004. The first banknotes of the new series are expected to be issued toward the end of this decade. When it comes to establishing the authenticity of banknotes, their quality (ÒfitnessÓ) is a key factor. The better the quality is, the easier it is to check the security features, especially the property of the paper and the raised ink features. In order to guarantee the fitness of the euro banknotes circulating in Austria, the OeNBandGSAprocessedapproximately 960 million banknotes in 2004. In other words, every banknote circulating in Austria was checked three to four times on average by OeNB or GSA experts and removed from circulation when found unfit. At the same time, more and more banks and retailers with a high cash turnover use special equipment on site to check banknotes for authenticity and, to some extent, for quality. To be able to offer guidance to users and producers of such equipment, a Test Center was installed in the Integration of Payment Services in Europe and Consolidation of Cash Distribution Structures in Austria OeNBÕs Cashier Division in 2004, where banknote and coin handling machines can be checked for their usefulness and effectiveness. Furthermore, work is under way to establish a structured procedure for making the test results available to a closed user group (via the dedicated website for professional cash handlers, https://bargeld.oenb.at). At the same time, the OeNB thus meets ECB requirements for cash recycling machines. Yet the efforts to produce stateof-the-art banknotes and ensure the fitness of circulating banknotes alone are not enough; cash users must also be familiar with the security features of banknotes. This is why educating the general public, but above all professional cash handlers about the distinctive features of euro banknotes is of utmost priority. After all, cashiers at banks and retailers and the police are at the forefront of protecting the public at large against counterfeits. In this respect, the OeNB again considerablysteppedupitsinformation activities in 2004. All in all, the OeNB hosted 495 workshops to provide in-depth information to more than 10,000 cash-handling experts. Furthermore, the OeNB reached out to approximately 68,000 people via its mobile branch office, the euro bus touring Austria, as well as at trade fairs. The OeNB uses its regional network of cash service providers as a channel for disseminating information and hosting training sessions on banknotes. The OeNBÕs branch network offering cash services throughout Austria was reorganized in 2004 following the changeover to the euro. The establishment of four regional hubs ensures that the OeNBÕs range of services continues to be accessible throughout Austria. The decision to Continuous monitoring of banknote quality OeNBÕs regional network of cash service providers Annual Report 2004 × 57
Integration of Payment Services in Europe and Consolidation of Cash Distribution Structures in Austria Called-in Banknotes and Dates at which Exchange Periods End ATS 1,000, 3 rd motif (Bertha v. Suttner) August 30, 2005 ATS 100, 5 th motif (Angelika Kaufmann) November 28, 2006 ATS 500, 2 nd motif (Josef Ressel) August 31, 2007 ATS 50, 3 rd motif (Ferdinand Raimund) August 31, 2008 ATS 20, 4 th motif (Carl Ritter v. Ghega) September 30, 2009 ATS 500, 3 rd motif (Otto Wagner) April 20, 2018 ATS 1,000, 4 th motif (Erwin Schrödinger) April 20, 2018 turn the euro bus into a permanent mobile branch office underlines the OeNBÕs commitment to enhance customer orientation. The euro bus is literally a vehicle for spreading information but also continues to provide welcome opportunities for converting old schilling Box 6 holdings locally into euro free of charge. Approximately 10% of all schilling holdings converted in 2004 were returned to the OeNB via the euro bus. On balance, the volume of outstanding schilling banknotes and coins shrank from ATS 12 billion to ATS 11.5 billion. 58 × Annual Report 2004
Page 1 and 2:
√ Oesterreichische Nationalbank S
Page 4 and 5:
ˆ Report on the Financial Year 200
Page 6 and 7:
In 2004 the global economy expanded
Page 8: Financial Statements of the Oesterr
Page 11 and 12: GeneralCouncil(Generalrat),StateCom
Page 13 and 14: Organization Chart President Herber
Page 16: ˆ Report of the Governing Board (D
Page 19 and 20: The Eurosystem Secures Price Stabil
Page 39 and 40: The OeNB as a Competent Partner in
Page 49 and 50: Competition and transparency in cas
Page 51 and 52: Integration of Payment Services in
Page 57: Integration of Payment Services in
Page 63 and 64: ÒStability and SecurityÓ — the
Page 65 and 66: The OeNBÕs Information Policy —
Page 67 and 68: The OeNBÕs Information Policy —
Page 69 and 70: The OeNB — An Innovative, Dynamic
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 124 and 125:
x = No data can be indicated techni
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
show all

Annual Report 2004

Create successful ePaper yourself

Delete template?

Save as template?