The Key Characteristics of Financial Reporting in the European System of Central Banks
AbstractAgainst the backdrop of the financial crisis, operations of central banks and their balance sheets are in particular focus. Thus, the effective communication on the results of the central banks’ actions is of particular importance. This is due to at least two reasons. First, central banks are accountable to the society for the use of the entrusted resources. However, financial performance of central banks is not always a good indicator of effective striving to achieve defined goals. The so-called “accounting returns” or realized income, as well as risks in the balance sheets of central banks may be associated with the operations undertaken by central banks. Actual losses or benefits for society do not derive only from these results, but depend on the effective or non-effective achievement of defined goals. The other reason why the external communication of central banks is very important is associated with the effectiveness of taken activities because it is less likely that any taken action will be successful unless it is combined with appropriate channels of communication that will enable stakeholders to understand the nature, objectives and results of this operation. Financial reporting of central banks is an important channel of communication. The European Central Bank (ECB) has developed its own set of accounting rules specific to the operations of the central banks. These rules and operations have changed over time, while analytical work and continuing intention to improve these rules contributed to their harmonization and implementation in all Eurosystem central banks.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Central bank of Montenegro in its journal Journal of Central banking Theory and Practice.
Volume (Year): 2 (2013)
Issue (Month): 3 ()
Contact details of provider:
Postal: Bulevar Svetog Petra Cetinjskog br. 6, 81000 Podgorica
Phone: +382 20 403 136
Fax: +382 20 664 029
Web page: http://www.cbcg.me/eng/index.php?bl=journal
More information through EDIRC
financial reporting; accounting rules; harmonization; the ECB; national central banks (NCBs); the balance sheet; income statement; asymmetric approach; non-netting; provisioning; International Financial Reporting Standards (IFRS);
Find related papers by JEL classification:
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
- M40 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - General
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.