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Financial Statements

Account of Receipts and Payments

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  £ million  £ million
     
  1998-99 1997-98 
     
Balance with Paymaster General at 1 April    428  326

                                                                                                                                             

Receipts        
    1,250   2,800
Transfer from National Loans Fund     8,856    8,850
Sales of gold        
Sales of securities and currency        

Eurosystem currencies

         

-Euros  

 99,413    156,923  

-Deutschemarks

 71,800   105,209  

-French Francs 

 16,206   11,455  

-Netherlands Guilder  

 7,314   10,333  

-Italian Lire 

 1,202   1,392  

-Other

 440    1,551  
    196,375   286,863
         

 Non Eurosystem currencies

        

- US dollars  

 385,834    733,662  

-Japanese yen

 71,620   72,953  

-Other

 1,111   1,482  
    458,565   808,097
         
Sales of IMF Special Drawing Rights   751   720
Interest, etc on gold and currencies   2,299   3,845
Interest, etc from IMF   59    33
Charges for exchange guarantees   2   5
 
Total receipts  668,157  1,111,213
    


                                                              
Payments   £ million   £ million
         
    1998-99   1997-98
         
Transfers to National Loans Fund    3,130      6,450
Purchases of gold   9,673   9,965
Purchases of securities and currency        

Eurosystem currencies

        

-Euros

 95,779   154,578  

-Deutschemarks

 70,462   104,544  

-French Francs

 17,566   11,767  

-Netherlands Guilder

 7,225   10,314  

-Italian Lire

 1,234   1,321  

-Other

 404   1,528  
    192,670    284,052

 Non Eurosystem currencies

        

- US dollars

 385,480  732,754  

-Japanese yen   

    73,540   73,023  

-Other

 1,039   1,459  
    460,059   807,236
         
Purchases of IMF Special Drawing Rights   788   726
Interest, etc on gold and currencies   1,242   2,618
Interest, etc to IMF   54   57
Bank of England management charges   9   7
   
Total payments    667,625 1,111,111
       
Balance with Paymaster General at 31 March    960            428
   

                    

Statement of Assets and Liabilities

  £ million £ million
  31/3/99               31/03/98
Assets    
     
Balance with Paymaster General  960 428
     
Gold (Note 1(c)) 2,989 2,468
     
Securities and Currencies    

Denominated in Euroland currencies

    

-European Currency Units 

 7,263 7,188

-Deutschemarks

 169  2,675

-French Francs

 0 440

-Netherlands Guilder

 0 118

-Italian Lire

 3 80

-Other

 3  80
  7,438 10,581

Denominated in non Euroland currencies

    

- US dollars

 5,710 5,810

-Japanese yen

 2,468  482

-Other

 35 115
  8,213 6,407
     
IMF Special Drawing Rights 317  261
     
Total Assets 19,917 20,145


Liabilities

 National Loans Fund (Note 2) 0 0
     
IMF Special Drawing Rights 1,612 1,521
     
Total Liabilities               1,612                           1,521    
     
Financed by    
     
Retained Surplus (Note 3) 18,305 18,624
  19,917 20,145
     

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