The Supervisory Board of Eesti Pank is to continue the current strategy of profit distribution
At the regular meeting of the Supervisory Board of Eesti Pank on Tuesday, the board confirmed the current strategy for profit distribution, whereby the central bank gives the state between 0 and 25% of its profit from the previous year.
The Supervisory Board will start to discuss the distribution of Eesti Pank’s profit for 2014 at the next meeting on 28 April.
The Supervisory Board decided that the relative level of Eesti Pank’s capital should increase to the average level of the central banks of the euro area, as the balance of risks to the capital of the Eurosystem as a whole is considered when joint monetary policy decisions are made. This means it is necessary to raise the level of capital by about a billion euros to 1.3 billion.
The ratio of Eesti Pank’s increased capital to the risk assets used for monetary policy is one of the lowest of any of the central banks of the euro area.
Since 1992 Eesti Pank has allocated a total of 129 million euros to the state budget.
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