Eesti Pank Annual Report 2010

MAIN FEATURES AND FUNCTIONS OF EESTI PANK

FOREWORD BY THE GOVERNOR OF EESTI PANK

CENTRAL BANK ACCOUNTABILITY

THE STRATEGIC OBJECTIVES OF EESTI PANK IN 2010

CHANGEOVER TO THE EURO

PREPARATIONS FOR JOINING THE EURO AREA

General framework
Euro changeover criteria
Preparations by Eesti Pank and credit institutions for the euro
Provision of information

CHANGES IN EESTI PANK'S OPERATION FRAMEWORK IN 2011 IN CONNECTION WITH THE EURO AREA

Tasks of the Eurosystem
The central bank's assets and liabilities after the changeover

TASKS AND ACHIEVEMENTS OF EESTI PANK IN 2010

MONETARY POLICY

Monitoring
Economic reviews
Economic forecasts
Economic research

RESERVE MANAGEMENT

Reserve management in 2010
The structure of foreign exchange reserves
The investment process
Results and determinants of investment in 2010
Changes in the benchmark portfolio in 2010
Asset management services provided to the public sector
Preparations for the euro and changes in reserve management

ENSURING FINANCIAL STABILITY

Financial sector analysis and financial stability assessment
Financial sector policy and regulation

DEVELOPMENTS IN STATISTICS

Preparations in statistics for EMU accession
Banking and other financial statistics
Balance of payments statistics
General economic statistics

PAYMENT AND SETTLEMENT SYSTEMS

Development of the payment and settlement systems
Payments in the payment and settlement systems managed by Eesti Pank
The oversight of payment and settlement systems

MEETING THE CASH DEMAND

Banknotes and coins in circulation and their structure
Expert analysis and handling of cash
The preparation of new banknotes and coins
The preparations for the euro changeover and changes in the structure of cash

INTERNATIONAL PARTNERSHIP

Cooperation with European Union institutions
Cooperation with the International Monetary Fund
Cooperation with the Bank for International Settlements
Cooperation with rating agencies

PUBLIC RELATIONS

Media communication and public appearances
The distribution of information about the changeover
Results of the euro information work

GOVERNANCE, ORGANISATION AND HUMAN RESOURCES POLICY

The governing and decision-making bodies of Eesti Pank
The development of the management system and work organisation of Eesti Pank in 2010
The human resources policy

ANNUAL ACCOUNTS OF EESTI PANK for the Financial Year Ended 31 December 2010

ANNEXES

GLOBAL ECONOMY IN 2010

United States and Japan
Euro area

ESTONIAN ECONOMY IN 2010

THE NON-FINANCIAL SECTOR
The monetary policy environment
Domestic and external demand
Inflation
General government
Sovereign rating
THE FINANCIAL SECTOR
The banking sector
Securities markets
Other financial intermediaries
Payment instruments

DECREES, DECISIONS AND PUBLICATIONS
DECREES OF THE GOVERNOR OF EESTI PANK IN 2010
DECISIONS OF THE SUPERVISORY BOARD OF EESTI PANK IN 2010
PUBLICATIONS OF EESTI PANK IN 2010