ECB loses EUR5.6bn on forex holdings in 2003

- Central Banking staff
- 22 Mar 2004

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

The weakness of the dollar has hit the European Central Bank hard in 2003, forcing the bank to declare a loss, and claw back dividend payments from its national central bank shareholders.

The ECB's balance sheet suffered a EUR5.6 billion hit in 2003 mostly as a result of the falling the dollar, according to the ECB's accounts released on Thursday. Lower interest income and the need to cover this loss meant the ECB made an overall loss of €477m for the year and cancelled its dividend.

The ECB's

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to print this content. Please contact info@centralbanking.com to find out more.

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@centralbanking.com

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@centralbanking.com