Annual Report 2004

Structures Aligned to the
OeNBÕs Strategy
In line with its strategy, the OeNBÕs
activities continue to cover the entire
range of central banking core areas,
complemented by selected fields of
activity. The previous chapters of this
annual report have described the
OeNBÕs tasks in detail. This chapter
will now provide some examples of
the OeNBÕs relational and structural
capital and explain a number of organizational
changes.
In the reporting year, members of
the OeNBÕs management and staff
represented the OeNBÕs interests in
198 international bodies, in particular
those of the ESCB/Eurosystem, the
European Union (EU), the International
Monetary Fund (IMF), the
Bank for International Settlements
(BIS) and the Organisation for Economic
Co-operation and Development
(OECD). Moreover, OeNB
staff participated in 95 national panels
focusing on financial and economic
policy.
To provide guidance in view of the
increasingly complex interconnections
between participating central
banks, the Eurosystem adopted a
joint Mission Statement 1 in 2004. In
essence, this Mission Statement clarifies
the EurosystemÕs objectives, values
and principles and lays down the
basic parameters for smooth and efficient
cooperation. With the aim of
strengthening the basis for a common
identity, the Mission Statement describes
the roles and responsibilities
of all Eurosystem members.
Relying on its longstanding experience,
the OeNB has been able to
provide valuable input to the development
of a Eurosystem-wide cost accounting
system. In this area, in particular,
factors like comparability
1 See www.oenb.at or www.ecb.int.
The OeNB — An Innovative,
Dynamic and Cost-Efficient Enterprise
and transparency play a key role.
These vital elements have provided a
basis for building a harmonized and
efficient network across the Eurosystem.
With a view to strengthening cooperation,
in 2004 the OeNB again
participated in the Central Bank Governance
Network coordinated by the
BIS. This cooperative venture, which
previously had been limited to answering
inquiries in writing, also included
specialist working meetings
in 2004. This formalized face-to-face
exchange of experience is intended to
promote general workflow optimization
(by defining examples of best
practice) and working solutions.
Since the beginning of the 1990s
the OeNB has evolved into a competence
center for the analysis of economic
developments in the Central
and Eastern European countries. In
2004, the OeNB expanded the focus
of its expertise to the countries of
Southeastern Europe. This new strategic
orientation is appropriate to accommodate
the ongoing European integration
and reflects the importance
this neighboring economic area has
for Austria.
Another example of intensified
cooperation and networking is the
Cooperation and
networks
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