CNB balance sheet

CNB balance sheet

Published: 1/2/2015

The table reports data on claims and liabilities of the Croatian National Bank.

Metodologija - en - bilanca HNB-a

Methodology

Published: 14/1/2016 Modified: 3/11/2017

TABLE C1 Balance sheet of the Croatian National Bank

The table reports data on claims and liabilities of the Croatian National Bank (central bank).
Foreign assets include the following forms of foreign currency and kuna claims on foreign legal and natural persons: monetary gold, holdings of special drawing rights, foreign cash in vault, reserve position in the International Monetary Fund, current account balances with foreign banks, time deposits with foreign banks and accrued interest, foreign currency security investments and other claims.
Claims on central government are loans, overdue claims on the budget of the Republic of Croatia and investments in short-term securities of the Republic of Croatia. In accordance with the Croatian National Bank Act that entered into force in July 2008, the Croatian National Bank may not extend credit to the Republic of Croatia. Hence, this item comprises only overdue claims on the budget of the Republic of Croatia based on the payment system operations and the liabilities to the IMF and foreign banks.
Claims on other domestic sectors are loans and overdue claims on other domestic sectors (from January 2004 to November 2010, this item included claims on banks undergoing bankruptcy proceedings).
From May 1999 on, Claims on other financial institutions (up to March 2013, reported under Claims on other banking institutions) include overdue claims on credit institutions against which bankruptcy proceedings have been initiated.
Claims on credit institutions are loans to credit institutions and overdue claims on credit institutions. Loans to credit institutions comprise Lombard credits (up to September 2017), short-term liquidity loans, other loans, reverse repo operations, structural repo operations (from February 2016) and collateralised credits (from September 2017). Item Lombard credits comprises loans to credit institutions for regular maintaining of the day-to-day liquidity, which were replaced by Lombard credits in December 1994. Short-term liquidity loans, which have been granted since the beginning of 1999, also serve to bridge liquidity problems. Other loans include intervention loans, special loans for bridging liquidity problems granted in the past (initial loans, prerehabilitation loans), due but unpaid loans and deposits of the CNB with credit institutions. From April 2005 on, reverse repo transactions are conducted on a weekly basis. Overdue claims on credit institutions comprise settlement account overdrafts (until mid-1994) and credit institutions’ failure to correctly and promptly allocate and maintain statutory reserve requirements.
Reserve money consists of currency outside credit institutions, cash in credit institutions’ vaults, credit institutions’ deposits with the CNB and deposits of other financial institutions with the CNB.
Credit institutions’ deposits are: settlement account balances, statutory reserves deposited on a special account with the CNB (including, from March 2006, the special reserve requirement on liabilities arising from issued securities), CNB bills on an obligatory basis and overnight deposits.
Deposits by other financial institutions are settlement account balances of the CBRD and CDCC deposits for securities trading.
Restricted and blocked deposits include required foreign currency reserves and accrued interest, restricted deposits and blocked foreign currency deposits. Credit institutions are required to set aside the reserve requirements against certain foreign currency sources of funds and the marginal reserve requirements (from August 2004 to October 2008) in special accounts at the Croatian National Bank. Restricted deposits are kuna funds set aside on the basis of a court order or regulations, kuna funds set aside in the period between May 1999 and April 2002 and deposits of banks undergoing bankruptcy proceedings. From March 2010 on, this item includes CBRD funds related to the accounts of the programme for the development of the economy. Blocked foreign currency deposits are funds that were set aside in special accounts at the Croatian National Bank for repaying unpaid amounts due to foreign creditors.
Foreign liabilities include use of IMF credits, liabilities to international financial institutions and foreign banks and accrued interest, as well as the allocation of special drawing rights that was shown under the Capital accounts until 2008.
Deposits of central government and social security funds are demand deposits and foreign currency deposits of the central government and social security funds with the CNB, and CNB bills voluntarily purchased by institutions in the central government and social security funds’ sector.
CNB bills are kuna and f/c CNB bills on a voluntary basis, excluding CNB bills voluntarily purchased by institutions in the central government and social security funds’ sector.
Capital accounts include reserves, provisions and the income and cost accounts.
Other items (net) are unclassified liabilities decreased by unclassified assets of the Balance sheet of the Croatian National Bank.