Norges Bank's accounts for 2003

Norges Bank's annual accounts for 2003 show a surplus of NOK 20.8 billion, compared with a deficit of NOK 24.1 billion in 2002. Norges Bank said that no transfer will be made to the Treasury from the Transfer Fund.

The accounts must be assessed against the background of Norges Bank's responsibilities. One of the Bank's main responsibilities is the issue of banknotes and coins. This means that the Bank will always have non-interest-bearing debt. The offsetting entry is the Bank's interest-beari