|
Balance Sheet of Danmarks Nationalbank at December 31, 1997
Note |
|
1997
kr. '000 |
1996
kr. '000 |
|
| |
Assets |
|
|
11 |
Stock of gold |
3,330,909 |
3,652,024 |
11 |
Foreign assets |
115,843,756 |
73,623,711 |
11 |
Claims on the European Monetary Institute |
4,790,341 |
4,979,376 |
| |
Special Drawing Rights in the IMF (SDRs) |
2,291,311 |
996,501 |
| |
Denmark's IMF quota |
9,856,347 |
9,134,271 |
12 |
Loans, etc. |
37,115,599 |
49,658,578 |
13 |
Bonds and shares, etc. |
33,766,468 |
35,108,190 |
| |
Sundry debtors |
301,699 |
185,328 |
14 |
Accruals |
2,520,324 |
2,198,364 |
|
15 |
Total assets |
209,816,754 |
179,536,343 |
|
| |
Liabilities |
|
|
| |
Banknotes |
35,078,755 |
33,186,885 |
| |
Coins |
3,630,988 |
3,426,422 |
| |
Foreign liabilities |
876,282 |
1,633,980 |
| |
Allocations of Special Drawing Rights in the IMF (SDRs) |
1,647,767 |
1,527,051 |
| |
International Monetary Fund |
5,545,608 |
5,533,266 |
16 |
Deposits, etc. |
33,862,778 |
28,068,469 |
| |
Certificates of deposit |
52,738,000 |
30,865,000 |
| |
Central government |
33,953,919 |
34,994,811 |
| |
Sundry creditors |
1,127,290 |
1,407,103 |
|
| |
Total creditors |
168,667,585 |
140,784,121 |
| |
General Capital Fund |
50,000 |
50,000 |
| |
Statutory Reserve |
250,000 |
250,000 |
| |
Value Adjustment Reserve |
2,106,855 |
1,092,921 |
| |
General Reserves |
38,742,314 |
37,359,301 |
|
| |
Total net capital |
41,149,169 |
38,752,222 |
|
| |
Total liabilities |
209,816,754 |
179,536,343 |
|
17 |
Off-balance-sheet items: |
|
|
| |
Guarantees |
419,925 |
374,438 |
| |
Other liabilities |
57,537,178 |
52,439,525 |
|
| |
|
57,957,103 |
52,813,963 |
Danmarks Nationalbank
Copenhagen, February 16, 1998
Bodil Nyboe Andersen Torben Nielsen Jens Thomsen /K. Røhl, regnskabschef
Report of the internal audit
We have audited the annual accounts of Danmarks Nationalbank for the year 1997 presented by the Management.
Basis of opinion
We have conducted the audit on the basis of the Danmarks Nationalbank Act and Danmarks Nationalbank's By-Laws and in accordance with the auditing standards generally accepted in Denmark.
Based on an evaluation of materiality and risk we have assessed whether the Bank's procedures and internal control systems provide adequate security, just as we have tested the basis and documentation for the amounts and other information presented in the annual accounts. This included an assessment of the applied accounting policies and the accounting estimates made, as well as an assessment of the adequacy of the information presented in the annual accounts.
The audit has not resulted in any qualifications.
Opinion
In our opinion the annual accounts have been prepared in accordance with the Danmarks Nationalbank Act and Danmarks Nationalbank's By-Laws and reflect the income and expenses for the year and the assets and liabilities as at December 31, 1997.
Copenhagen, February 16, 1998 Henrik Larsen, Chief Auditor
These accounts, audited in the manner prescribed by the By-Laws of Danmarks Nationalbank, are hereby adopted by the Board of Directors.
Report of the external auditors
As auditors appointed by the Royal Bank Commissioner we have audited the annual accounts for the year ended December 31, 1997 of Danmarks Nationalbank.
Basis of opinion
We planned and conducted our audit in continuation of the audit performed by the Bank's internal audit and in accordance with the auditing standards generally accepted in Denmark to obtain reasonable assurance that the annual accounts are free of material misstatements. Based on an evaluation of materiality and risk, we have tested the basis and documentation for the amounts and disclosures in the annual accounts. Our audit included an assessment of the accounting policies applied and estimates made. In addition we have evaluated the overall adequacy of the presentation of information in the annual accounts.
Our audit has not resulted in any qualifications.
Opinion
In our opinion the annual accounts have been prepared in accordance with the Danmarks Nationalbank Act and Danmarks Nationalbank's By-Laws and reflect the income and expenses for the year and the assets and liabilities as at December 31, 1997.
Copenhagen, February 16, 1998 John Gath, State-Authorized Public Accountant Sv. Ørjan Jensen, State-Authorized Public Accountant
Copenhagen, March 18, 1998
Hans E. Zeuthen Helle Bechgaard Michael Dithmer
Pia Christmas-Møller Uffe Ellemann-Jensen Jørgen Estrup Bent le Fèvre Ove Fich Karen Højte Jensen Knud Koch Jensen Jette W. Knudsen Kjeld Larsen Torben Lund
Jes Lunde Harry Nicolaisen B. Frank Nielsen Kirsten Nielsen Karsten Olsen Anders Fogh Rasmussen Erik B. Rasmussen Jens Rostrup-Nielsen Kirsten Stallknecht Helge Sørensen Finn Thorgrimson Margit Vognsen
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