The Supervisory Board of Eesti Pank held its regular meeting on Tuesday. The Board supported the decision of the Governor of Eesti Pank to conduct an audit to find the documents related to the VEB Fund and assess the central bank's activities in connection with the fund.

According to the Executive Board of Eesti Pank the National Audit Office of Estonia could also conduct an audit after the central bank has completed its audit. This would bring more clarity because the bank’s internal audit mandate does not allow to audit all the aspects related to the VEB Fund.

Governor of Eesti Pank Ardo Hansson presented to the Supervisory Board the principles underlying the compilation of the next year’s budget and provided an overview of the bank’s 2012 budget implementation. Governor Hansson presented also a regular review of the economic and financial situation in the euro area.

The Supervisory Board was presented the central bank’s risk management report (as at 30 September 2012).

The next regular meeting of the Supervisory Board of Eesti Pank will be held on 6 November.

For further information:
Viljar Rääsk
Public Relations Office
Eesti Pank
Eurosystem
Tel: +372 668 0745, +372 527 5055
E-mail: [email protected]
Press enquiries: [email protected]