Press Release: Annual accounts of the ECB for the year ended 31 December 1999

In its first year of full operation the European Central Bank (ECB) made an operating profit of €666 million before payment of remuneration of €913 million to national central banks (NCBs) on their claims in respect of the €39.5 billion of foreign reserve assets, including gold, transferred by them to the ECB at the beginning of the year. Taking this remuneration into account, the ECB's financial result for 1999, therefore, amounted to a loss of €247.3 million.

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