Riksbank transfers SEK 7.6 billion to the Treasury

The Governing Board of the Riksbank has decided to propose that, of the Bank's net revenue in 1998, SEK 7.6 billion be transferred to the Treasury. The Riksbank Act prescribes that the allocation of the Riksbank's net revenue is determined by the Riksdag (Sweden's parliament), while the Governing Board makes proposals to the Riksdag.

The proposed allocation of net revenue has been calculated in accordance with the current guidelines, which state that the transfer (dividend) to the Treasury is to be based on the average level of net revenue, adjusted for exchange rate effects. The remaining net revenue is allocated to the Riksbank's Balancing Account and Contingency Fund. Total net revenue in 1998 amounted to SEK 21.9 billion. Increases in the market value of the securities portfolio as a result of falling market interest rates was a favourable factor behind this result, as was the depreciation of the krona relative to the currencies in the foreign exchange reserves.

For further information, please contact:
Henrik Gardholm, Planning and Accounting Dept.,
telephone no. +46 8 787 01 19