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Europe Daily Bulletin No. 8910

17 March 2005
Contents Publication in full By article 31 / 36
GENERAL NEWS / (eu) eu/ecb
Losses of more than one euro one billion in 2004

Brussels, 16/03/2005 (Agence Europe) - During its meeting on 11 March, the ECB Board of Governors approved the bank's certified accounts for 2004. During the previous tax year, the European Central Bank revealed losses of EUR 1.636 bn as opposed to EUR 477 million in 2003. The results were expected and can be explained by the fall in the dollar, a currency in which most of the ECB's assets are made out. In 2004, the appreciation of the Euro compared to the Green Back resulted in net exchange...

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GENERAL NEWS