The Riksbank’s asset management

The Riksbank manages financial assets to be able to fulfil its statutory objectives and perform its tasks. In order to safeguard financial stability, the Riksbank should be ready and able to provide temporary liquidity assistance to banks in both kronor and foreign currencies. For monetary policy purposes, the Riksbank should be able to buy or sell foreign currency so that it can influence the exchange rate for the Swedish krona. The Riksbank also provides loans to the International Monetary Fund (IMF). 

 

The Riksbank's balance sheet

The Riksbank's balance sheet shows which assets the Riksbank holds and how these are funded.

 

Assets 

 

Liabilities and equity 

Gold and foreign exchange reserves Banknotes and coins

Monetary policy assets

Monetary policy liabilities

Receivables from the IMF Liabilities in foreign currency
Other assets

Equity (including revaluation account and financial result for the year)

Assets

The Riksbank's assets are dominated by the gold and foreign currency reserve. This gives the Riksbank the possibility of offering emergency liquidity assistance in foreign currency and, by buying and selling foreign currencies, the Riksbank can influence the krona exchange rate. The gold and foreign currency reserve is also used when the Riksbank lends money to the IMF.

 

The Riksbank's monetary policy assets consist of securities issued by the Swedish government. Previously, these assets also consisted of the receivables from banks that arose when the Riksbank lent money via monetary policy repo transactions. Nowadays the banks have liquidity surpluses that they deposit with the Riksbank and therefore the Riksbank instead receives monetary policy liability (see below).

 

Receivables from the IMF arise when the Riksbank lends money to the IMF. The IMF, in turn, lends money to developing countries and to countries in financial crises.

 

The Riksbank's other assets consist of the Riksbank's premises at Brunkebergstorg, shares in the Bank for International Settlements (BIS) and other holdings.

Liabilities and equity

The Riksbank issues the banknotes and coins that are used in Sweden. The value of banknotes and coins in circulation is reported as a liability on the Riksbank's balance sheet.

 

Monetary policy liabilities refers to the Riksbank certificates issued by the Riksbank and what are known as fine-tuning transactions (see also monetary policy assets above).

 

The Riksbank has liabilities in foreign currency in the form of loans with the Swedish National Debt Office. The loans fund the increases in the foreign exchange reserve decided on by the Executive Board in 2009 and 2012.

 

The main portion of the Riksbank's profit is transferred to the Treasury. The part of the profit retained by the Riksbank has been aggregated over the years and forms the Riksbank's equity. As yet unrealised profits are balanced against what is known as the revaluation account, which forms a part of the Riksbank's equity.

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