Notes to the Bank of Latvia Balance Sheet as at 30 April 2013

Publishing date: 10.05.2013

The principal changes in the Bank of Latvia's assets and liabilities on the 30 April 2013 balance sheet as compared to 31 March 2013 and the reasons for these changes.

• A decrease of 4.5 million lats or 0.1% in foreign assets, mostly as a result of a reduction in the funds deposited in foreign currencies by the Latvian government, with a rise in the funds deposited in foreign currencies by credit institutions having an increasing effect on foreign assets.
• An increase of 8.6 million lats or 27.5% in foreign liabilities, mostly on account of an expansion of the cash collateral received for securing financial transactions and the funds deposited by the European Commission, with a change in the lats equivalent of financial instruments having a decreasing effect.
• An rise of 42.2 million lats or 1.6% in domestic liabilities mostly due to an increase of 56.9 million lats or 2.9% in the funds deposited by credit institutions, while a decrease of 10.1 million lats in uncompleted settlement liabilities and a fall of 5.7 million lats or 0.9% in the funds deposited by the Latvian government had a dampening effect.
• The amount of lats in circulation decreased by 38.1 million lats or 3.4%.
• A drop of 17.4 million lats or 4.8% in the capital and reserves mostly resulted from appropriation of a part of the Bank of Latvia's profit earned in 2012 to the state budget in the amount of 22.1 million lats, while the realised result gained from investment in financial instruments and interest income received had an increasing effect.