Annual Report 2004

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The schilling coins and banknotes of the last series may be converted into euro indefinitely at the OeNB free of charge. In contrast, the exchange deadlines for banknotes of earlier series, all called in by the time the euro was launched, continue to apply (see box 6). Thus, conversion of the ATS 1,000 banknote featuring Bertha von Suttner will only be possible until the end of August 2005. To date, some 464,000 called-in banknotes of this motif have not yet been returned to the OeNB. Cash Services and Cashless Payment Solutions Provided by the OeNB through Its Associated Companies Over the past two decades the OeNB has developed a portfolio of subsidiaries and associated companies that support the central bank in providing cash services and cashless payment solutions. These associates are a key pillar of the overall framework put in place to ensure that Austria will be adequately supplied with cash and that payment systems work smoothly. Through its associated companies, the OeNB can pursue its security aims and take confidence-building measures at the operational level in the field of cash services and payment solutions. The network of associates supports the OeNB in meeting its responsibility to help maintain the stability of the financial system, creating a positive business and investment climate in Austria. Through the provision of effective and efficient services that ensure a smooth implementation of operations, the associated companies substantially support the OeNB in fulfilling its tasks. Integration of Payment Services in Europe and Consolidation of Cash Distribution Structures in Austria The core business of Mu‹nze O‹ sterreich Aktiengesellschaft and of Oesterreichische Banknoten- und Sicherheitsdruck GmbH is to produce coins and banknotes. In addition, a cash services company — GELDSERVICE AUSTRIA Logistik fu‹r Wertgestionierung und Transportkoordination G.m.b.H. — provides cash processing and cash logistics services for both banknotes and coins. The pooling of these services has made it possible to keep cash handling costs to a minimum. AUSTRIA CARD — Plastikkarten und Ausweissysteme Gesellschaft m.b.H. is a producer of highly secure chip cards. In the field of cashless payment solutions, theOeNBmoreover holds minority interests in Austrian Payment Systems Services (APSS) GmbH, in the certification services provider A-Trust Gesellschaft fu‹r Sicherheitssysteme im elektronischen Datenverkehr GmbH, and in Studiengesellschaft fu‹r Zusammenarbeit im Zahlungsverkehr (STUZZA) G.m.b.H. The strategic objective of these undertakings is to provide a secure payment systems infrastructure and ensure the provision of reliable financial services. The Payment Instruments Cluster The role of the OeNBÕs associated companies Annual Report 2004 × 59
Integration of Payment Services in Europe and Consolidation of Cash Distribution Structures in Austria OeNB subsidiaries provide efficient services and ensure market proximity The OeNB’s Payment Instruments Cluster Cash services Cash production Münze Österreich Aktiengesellschaft (100%) • minting, distribution and withdrawal of divisional and negotiable coins • production and sale of items made of noble and other metals • engineering and consulting services Oesterreichische Banknotenund Sicherheitsdruck GmbH (100%) • banknote and security printing • print product business • research and development services Cashless payments solutions Production of payment instruments AUSTRIA CARD- Plastikkarten und Ausweissysteme Gesellschaft m. b. H. (100%) • production and sale of credit cards, card systems and related forms as well as of equipment for the production and use of card systems • production and sale of ID systems The OeNBÕs associates are separately managed companies that put a key emphasis on efficient performance and the use of best practices in business management. As these companies need to assert themselves in the national and international markets, they are constantly seeking to minimize costs and are dedicated to the principles of innova- Cash processing GELDSERVICE AUSTRIA Logistik für Wertgestionierung und Transportkoordination G.m.b.H. (91.4%) • cash processing • supply of banknotes and coins • logistics Provision of infrastructure and ensuring the provision of reliable financial services Austrian Payment Systems Services (APSS) GmbH (38%) • establishment and development of ATM and POS terminal services • IT services A-Trust Gesellschaft für Sicherheitssysteme im elektronischen Datenverkehr GmbH (9.1%) • certification services in the area of electronic signatures Studiengesellschaft für Zusammenarbeit im Zahlungsverkehr G.m.b.H. (STUZZA) (25%) • research association for the development of concepts and measures to reduce credit institutions’ payment transaction costs The percentage in parentheses indicate the shares that the OeNB holds in the individual companies. tion, flexibility and customer orientation. The associated companies use their know-how and resources to offer also products and services that go beyond the central banking business or related activities. By boosting the financial results, these additional activities help secure the companyÕs future and thus the provision of the central bank-related activities. 60 × 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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15 Capital and reserves A summary o
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Notes to the Profit and Loss Accoun
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ance with Article 69 paragraph 1 of
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Governing Board (Direktorium) Gover
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Profit for the Year and Proposed Pr
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ˆ Notes
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x = No data can be indicated techni
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Core inflation: inflation measure t
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Primary balance: government net bor
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Periodical Publications of the Oest
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Artwork All artwork featured in thi
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The Annual Report of the OeNB provi
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Annual Report 2004

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