Foreign Exchange and Liquidity and Monthly Balance Sheet, April 2022

Authors Danmarks Nationalbank
Subject Press releases from Danmarks Nationalbank
Type Press Releases  
Year 2022
Published 3 May 2022
Abstract icon ​In April 2022, the foreign-exchange reserve decreased by kr. 0.6 billion to kr. 535.1 billion.

THE FOREIGN-EXCHANGE RESERVE

In April 2022, the foreign-exchange reserve decreased by kr. 0.6 billion to kr. 535.1 billion. The decrease reflects Danmarks Nationalbank's net sale of foreign exchange for kr. 0.6 billion, cf. table 1.

For settlement in April, Danmarks Nationalbank has not intervened in the foreign exchange market.

Danmarks Nationalbank's net foreign-exchange purchases and the change in the foreign-exchange reserve - table 1

Kr. billionApril 2022January 2022 - April 2022
Danmarks Nationalbank's interventions* to purchase foreign exchange, net0.00.0
Other**-0.64.6
Danmarks Nationalbank's net foreign-exchange purchases-0.64.6
The central government's net foreign borrowing***0.0-4.6
Change in the foreign-exchange reserve-0.60.0

Note: Details may not add because of rounding and previously published figure may have been revised. All transactions as per settlement date.

* Intervention takes place when Danmarks Nationalbank purchases and sells foreign exchange for Danish kroner in the foreign-exchange market in order to stabilise the exchange rate.

** Comprises e.g. interest accrued on the foreign-exchange reserve, the central government's net payments in foreign exchange, and changes in the banks' deposits in euro-denominated accounts at Danmarks Nationalbank.

*** Including net payments to the central government in foreign exchange as a result of currency swaps.

DEVELOPMENT IN LIQUIDITY

In April, the central government's net financing requirement amounted to kr. -0.7 billion. Since the turn of the year, the central government's net financing requirement has been kr. -116.7 billion, cf. table 2.

The net position of the banks and mortgage-credit institutes vis-à-vis Danmarks Nationalbank decreased by kr. 2.6 billion in April, to an outstanding amount of kr. 158.4 billion. In April, Danmarks Nationalbank's net bond purchases decreased the net position by kr. 0.7 billion.

Impact of various factors on the net position of the banks and mortgage-credit institutes via-a-vis Danmarks Nationalbank - table 2

Kr. billionApril 2022January 2022 - April 2022
The central government's net financing-0.7-116.7
Redemption on domestic central-government debt*1.058.7
Net bond purchases by the government funds and own portfolio and financing of social housing7.616.8
Other**-0.6-1.1
The central government's gross domestic financing requirement7.3-42.3
The central government's gross domestic borrowing***7.34.8
The central government's liquidity impact0.0-47.0
Danmarks Nationalbank's net foreign-exchange purchases-0.64.6
Danmarks Nationalbank's net bond purchases-0.70.0
Other factors****-1.4-1.7
Change in net position-2.6-44.2

Note: Details may not add because of rounding and previously published figure may have been revised. All transactions as per settlement date.

* Including krone-denominated payments by the central government in currency swaps.

** Comprises foreign net financing requirement and changes in net collateral for the government’s swap portfolio.

*** Gross long-term borrowing, net short-term borrowing and krone-denominated payments to the central government in currency swaps.

**** Comprises e.g. changes in banknotes and coins in circulation.

DANMARKS NATIONALBANK'S INTEREST RATES

Since 6 July 2012 the discount rate has been 0,00 pct. p.a., since 1 October 2021 the current-account interest rate has been -0,60 pct. p.a., since 1 October 2021 the lending rate has been -0,45 pct. p.a. and since 1 October 2021 the rate of interest on certificates of deposit has been -0,60 pct. p.a.

Enquiries can be directed to press advisor Teis Hald Jensen on tel. +45 3363 6066.

BALANCE SHEET OF DANMARKS NATIONALBANK 30 APRIL 2022

Assets 2022 2022
1000 kr.30/0431/03
Stock of gold25,569,62825,569,628
Foreign assets457,767,031457,478,398
Claims on the International Monetary Fund55,421,95355,422,838
Claims related to banks' and mortgage credit institutes' TARGET accounts in ECB31,47728,048
Monetary-policy lending26,500,00010,000,000
Other lending1,533,7451,760,613
- Banks'1)1,533,7451,760,613
- Miscellaneous loans- -
Domestic bonds31,350,06032,002,831
Financial fixed assets, etc.131,056131,056
Tangible and intangible fixed assets645,618651,645
Other assets1,568,4151,612,524
600,518,983584,657,581

1) Other lending to banks include loans for cash deposits.

Liabilities 2022 2022
1000 kr.30/0431/03
Banknotes71,502,12771,242,386
Coins6,223,9686,212,892
Monetary-policy deposits184,868,907171,018,238
- Current accounts184,618,907170,768,238
- Certificates of deposit250,000250,000
Other deposits12,624,19011,846,383
- Deposits related to banks' and mortgage credit institutes' TARGET accounts in ECB31,47728,048
- Other deposits from banks' and mortgage credit institutes'2,873,3792,332,070
- Miscellaneous deposits9,719,3349,486,265
Central government193,996,919194,030,287
Foreign liabilities3,656,8732,773,795
Counterpart of Special Drawing Rights allocated by the IMF (SDR)44,343,58144,343,581
Other liabilities1,706,3801,788,098
Capital and reserves81,596,03881,401,921
600,518,983584,657,581

Note: The monthly balance sheet is calculated at beginning of year values +/- accumulated transaction values. The monthly balance does not include value adjustments and accruals, as these are only calculated at year-end, cf. Danmarks Nationalbank's accounting principles.