CHRONICLE OF MONETARY POLICY
OCTOBER AND NOVEMBER 1996

16 OCTOBER

Decree of the President of Eesti Pank
On Amendments to the Balance of Payments Reports Presented by Enterprises

A supplementary report concerning foreign transactions was established for the resident enterprises of the Republic of Estonia from 1 November 1996. The quarterly report enables Eesti Pank to collect additional information necessary for the compilation of the Estonian balance of payments.

22 OCTOBER

The official name of the Virumaa Kommertspank was changed to Eesti Maapank (Land Bank of Estonia).

6 NOVEMBER

The Riigikogu (Parliament) adopted the second supplementary budget for 1996 in the total amount of 33.7 million kroons. The supplementary budget allocates additional income received between the state entities.

27 NOVEMBER

Decree of the President of Eesti Pank
On Testing Reports

Pursuant to Article 52 of the Law on Credit Institutions and due to the need to change the valid balance sheet annexes and report forms caused by the development of the banking system, the decree established a testing period from 1 December 1996 to 31 March 1997 to the new report forms.

During the testing period all credit institutions have the possibility to present to Eesti Pank in writing their proposals and wishes regarding the changes or additions to the reports being tested.