Annual Report 1996
CONTENTS
- INTERNATIONAL ECONOMIC AND
FINANCIAL ENVIRONMENT
- MAJOR INDUSTRIAL COUNTRIES
- USA
- Japan
- European Countries
- Germany
- Sweden
- Finland
- TRANSITION ECONOMIES OF CENTRAL AND EASTERN EUROPE
- Poland, Slovakia, the Czech Republic and Hungary
- Latvia and Lithuania
- Russia
- ESTONIAN ECONOMY
- ECONOMIC ENVIRONMENT
- Reforms
- DEVELOPMENT OF THE REAL ECONOMY
- Economic Growth
- Domestic Demand
- Foreign Demand: Exports
- Domestic Supply
- Foreign Supply: Imports
- Main Peculiarities of Consumer Price Changes in 1996
- Role of Foreign Financing
- Direct Investments
- Portfolio Investments
- UNEMPLOYMENT, INCOME AND CONSUMPTION
- Labour Market
- Average Wage
- Income, Consumption and Savings of the Population
- PUBLIC SECTOR
- Revenue
- Expenditures
- Budget Balance
- Budget Financing and Loan Burden
- INTERNATIONAL INVESTMENT POSITION
- International Investment Position as of 31 December 1996
- External Assets
- External Liabilities
- Net Foreign Debt of Estonian Residents
- DEVELOPMENT OF THE FINANCIAL SECTOR
- BANKING SYSTEM
- General Trends
- Bank Assets
- External and Own Funds of the Banks
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- Profitability and Profits
- OTHER FINANCIAL INTERMEDIARIES
- Institutional Development of Financial Intermediaries
- Capital Market
- Development of the Market
- Financial Deepening and the Capital Market
- ESTONIAN MONETARY POLICY
- MONETARY POLICY ARRANGEMENT AND EXPERIENCE
- General Tendencies
- Structure of the Monetary System
- Peculiarities of the Currency Board
- MONETARY POLICY INDICATORS IN 1996
- Interest Rate Level
- Monetary and Credit Aggregates
- Exchange Rate
- ACTIVITY OF EESTI PANK IN DESIGNING THE OPERATIONAL FRAMEWORK OF MONETARY POLICY
- BANKING SUPERVISION
- GENERAL DEVELOPMENT OF SUPERVISION IN ESTONIA
- DEVELOPMENT OF BANKING AND PRIORITIES OF SUPERVISION
- Management and Internal Audit Unit
- Security and Reliability of Information Systems
- Risk Management Systems
- REVISION OF BANKING-RELATED LEGISLATION
- Law on Guaranteeing Deposits
- New Version of the Law on Credit Institutions
- Money Laundering
- PRUDENTIAL RATIOS
- RESTRUCTURING OF BANKS
- INTERNATIONAL COOPERATION IN THE FIELD OF SUPERVISION
- CASH
- Issue of Banknotes and Coins and Their Structure
- Cash Circulation
- Withdrawal of Worn-out Banknotes
- Activities of the Money Laboratory
- ESTONIAN PAYMENT AND SETTLEMENT SYSTEM
- Changes in the Settlement System in 1996
- Non-cash Payment Instruments
- INTERNATIONAL COOPERATION
- International Monetary Fund
- Other International Organisations
- European Union
- Co-operation with Central Banks of Other Countries
- ORGANISATIONAL CHART OF EESTI PANK (as of 31 December 1996)
- DEVELOPMENT OF EESTI PANK ORGANISATION AND PERSONNEL
- Governing Bodies of the Bank
- Development of Organisation
- Development of Personnel
- FINANCIAL STATEMENTS FOR 1996 OF EESTI PANK
- BALANCE SHEET OF EESTI PANK as of 31 December 1996
- PROFIT AND LOSS ACCOUNT OF EESTI PANK for the Year Ended 31 December 1996
- Notes to the Financial Statements of Eesti Pank
- Comments on the Profit and Loss Account
- REPORT OF THE AUDITORS TO RIIGIKOGU AND TO THE BOARD OF EESTI PANK
- STATISTICAL APPENDIX