Financial Statements for 1999

13/03/2000
All Press Releases In Subject:
The Economy and Economic Activity
Bank of Israel Balance Sheet
    
The Bank of Israel Law, 5714–1954, section 58, obliges the Bank of Israel to draw up a statement every month giving the composition and value of the Bank’s assets and liabilities, and to publish it in Reshumot (the Official Gazette). Section 59 of the law obliges the Bank to draw up and publish an annual balance sheet and profit-and-loss account within five months from the end of the Bank’s business year on 31 December.
     
The functions of the Bank as determined by the Knesset (Israel’s parliament) which have a significant financial effect on the financial statements are conducting monetary policy, managing the foreign reserves, and providing banking services to the government.
     
The Bank’s financial statements are drawn up on the basis of nominal data in NIS (New Israeli Sheqalim). The end-of-year statements also include a statement of assets and liabilities in NIS adjusted for changes in the Consumer Price Index.

The financial statements for 1999 include:
Balance sheet, Statement of income and expenses, Statement of changes in assets and liabilities (nominal and adjusted), Assets and liabilities by indexation bases, Notes to the financial statements, and Explanatory notes to the financial statements.
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