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9.2 Claims equivalent to the transfer<br />
of foreign reserves<br />
These represent the OeNBÕs claims<br />
arising from the transfer of foreign<br />
reserve assets to the ECB. The claims<br />
are denominated in euro at a value<br />
fixed at the time of their transfer.<br />
They are remunerated at the latest<br />
availablemarginalratefortheEurosystemÕs<br />
main refinancing operations,<br />
adjusted to reflect a zero return on<br />
the gold component.<br />
9.4 Net claims related to the allocation<br />
of euro banknotes within the<br />
Eurosystem<br />
Intra-Eurosystem balances on euro<br />
banknotes in circulation net the<br />
OeNBÕs liabilities resulting from the<br />
share of the total value of euro banknotes<br />
put into circulation allocated<br />
to the balance sheet of the ECB with<br />
its claim resulting from the allocation<br />
of euro banknotes in circulation<br />
within the Eurosystem (this allocation<br />
procedure is referred to as the<br />
Capital Share Mechanism — CSM).<br />
On December 31, <strong>2004</strong>, these balances<br />
resulted in a net claim of EUR<br />
2,874.801 million stemming from<br />
the adjustments of euro banknotes<br />
The adjustments to the capital key<br />
weightings of the ECB on January 1,<br />
<strong>2004</strong>, and May 1, <strong>2004</strong>, also resulted<br />
in the adjustment of the claim of the<br />
OeNB with respect to the foreign reserve<br />
assets transferred to the ECB.<br />
Reflecting its reduced capital key<br />
share, the OeNBÕs euro-denominated<br />
claim decreased by EUR 28.750<br />
million to EUR 1,150.950 million<br />
on January 1, <strong>2004</strong>, and increased<br />
by EUR 6.501 million to EUR<br />
1,157.451 million on May 1, <strong>2004</strong>.<br />
January 1, 1999<br />
to<br />
December 31, 2003<br />
January 1, <strong>2004</strong><br />
to<br />
April 30, <strong>2004</strong><br />
since<br />
May 1, <strong>2004</strong><br />
EUR EUR EUR<br />
Nationale Bank van Belgie‹/Banque Nationale de Belgique 1,432,900,000 1,414,850,000 1,419,101,951<br />
Deutsche Bundesbank 12,246,750,000 11,702,000,000 11,761,707,508<br />
Bank of Greece 1,028,200,000 1,080,700,000 1,055,840,343<br />
Banco de Espan÷a 4,446,750,000 4,390,050,000 4,326,975,513<br />
Banque de France 8,416,850,000 8,258,750,000 8,275,330,931<br />
Central Bank and Financial Services Authority of Ireland 424,800,000 512,700,000 513,006,858<br />
Banca dÕItalia 7,447,500,000 7,286,300,000 7,262,783,715<br />
Banque centrale du Luxembourg 74,600,000 85,400,000 87,254,014<br />
De Nederlandsche Bank 2,139,000,000 2,216,150,000 2,223,363,598<br />
Oesterreichische Nationalbank 1,179,700,000 1,150,950,000 1,157,451,203<br />
Banco de Portugal 961,600,000 1,006,450,000 982,331,062<br />
Suomen Pankki — Finlands Bank 698,500,000 714,900,000 717,118,926<br />
Total 40,497,150,000 39,819,200,000 39,782,265,622<br />
in circulation. In the previous year,<br />
this item had been recognized as a<br />
net liability under subitem 10.3 Net<br />
liabilities related to the allocation of<br />
euro banknotes within the Eurosystem.<br />
9.5 Other claims within the Eurosystem<br />
(net)<br />
This item shows net claims arising<br />
from balances of TARGET accounts<br />
and other (net) claims within the<br />
Eurosystem, provided that these<br />
items closed the reporting year with<br />
net claims. As the balance recorded<br />
on December 31, <strong>2004</strong>, was a net<br />
liability, it is represented under liability<br />
item 10.4 Other liabilities within<br />
the Eurosystem (net).<br />
Financial Statements<br />
<strong>Annual</strong> <strong>Report</strong> <strong>2004</strong> ×<br />
97
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