Eesti Pank Annual Report 2011
FOREWORD BY THE GOVERNOR OF EESTI PANK
EESTI PANK'S PRIORITIES IN 2011
THE EURO AREA AND ESTONIAN ECONOMY IN 2011
GLOBAL ECONOMY
Euro area
ESTONIA'S ECONOMY
Non-financial sector
Financial sector
TASKS AND ACHIEVEMENTS OF EESTI PANK IN 2011
PARTICIPATING IN THE FORMULATION OF MONETARY AND ECONOMIC POLICY
Monetary policy decisions
Monitoring
Economic forecasts
Advising the government
Economic research
IMPLEMENTING MONETA RY POLICY DECISIONS IN THE EURO AREA AND ESTONIA
Foundations of the framework for the implementation of the Eurosystem monetary policy
The Eurosystem's monetary policy operations in 2011
Eesti Pank's monetary policy operations
Reserve management
SAFEGUARDING FINANCIAL STABILITY
Financial sector analysis and financial stability assessment
Activities of the European Systemic Risk Board
Legal framework for the financial sector
DEVELOPMENTS IN STATISTICS
Financial sector statistics
External sector statistics
General economic statistics
PAYMENT AND SETTLEMENT SYSTEMS
Settlements in the payment and settlement systems managed by Eesti Pank
Development and policy of the financial sector infrastructures
Single Euro Payments Area
The Eurosystem platforms TARGET2 and TARGET2-Securities
Oversight of payment and settlement systems
MEETING THE CASH DEMAND
Banknotes in circulation in the euro area and Estonia
Expert analysis and handling of cash
Preparation of new banknotes and coins
COOPERATION
Central bank accountability
International partnership
Domestic partnership
Public relations
Eesti Pank Museum
GOVERNANCE, ORGANISATION AND HUMAN RESOURCES POLICY
Supervisory and governing bodies of Eesti Pank
Development of the management system and work organisation of Eesti Pank in 2011
Human resources policy of Eesti Pank
ANNUAL ACCOUNTS OF EESTI PANK for the Financial Year Ended 31 December 2011