Contents

FOREWORD

REPORT OF THE BOARD OF GOVERNORS

Report of the board of governors 2009
International background to the Danish economy
The Danish economy
Monetary and foreign-exchange policy
The domestic financial system
New European supervisory architecture
International monetary cooperation
Banknotes and coins
Payment Systems
Statistics

Organisation and tasks of Danmarks Nationalbank
Staff
Danmarks Nationalbank's buildings
Management and organisation
Representation of the Board of Governors on committees, in international organisations, etc.
Organisation chart 1 March 2010

Risk management
Operational risk
Financial risk

ACCOUNTS FOR THE YEAR 2009

Accounts

REPORT AND ACCOUNT At the meeting of the Board of Directors held on 16 March 2010 the Board of Governors will submit Danmarks Nationalbank's Report and Accounts 2009 for adoption on the recommendation of the Committee of Directors. This report is based on information available up to 3 March 2010. The small picture on the front cover shows the Skarpsalling Vessel, which is depicted on the 50-krone banknote in the new Danish series (the 2009 series). The motif was designed by the artist Karin Birgitte Lund. Text may be copied from this publication provided that Danmarks Nationalbank is specifically stated as the source. Changes to or misrepresentation of the content are not permitted. The Report and Accounts is available on Danmarks Nationalbank's website www.nationalbanken.dk under Publications and can be ordered by filling in the form on Danmarks Nationalbank's website. Report and Accounts 2009 is also available on request from:     Danmarks Nationalbank,     Communications,     Havnegade 5,     DK-1093 Copenhagen KTelephone: (+45) 33 63 70 00 (direct) or (+45) 33 63 63 63 Office hours: Monday-Friday 9.00 am-4.00 pm. E-mail: kommunikation@nationalbanken.dk Explanation of symbols: - Magnitude nil 0 Less than one half of unit employed • Category not applicable … Data not availableDetails may not add because of rounding. Rosendahls - Schultz Grafisk A/S ISSN 1397-520x ISSN (Online) 1398-3849