Annual accounts of the ECB for the year ended 31 December 1999.

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M2 PRESSWIRE-13 April 2000-EUROPEAN CENTRAL BANK: Annual accounts of the ECB for the year ended 31 December 1999 (C)1994-2000 M2 COMMUNICATIONS LTD RDATE:12042000 In its first year of full operation the European Central Bank (ECB) made an operating profit of EUR 666 million before payment of remuneration of EUR 913 million to national central banks (NCBs) on their claims in respect of the EUR 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 EUR 247.3 million. The principal factor contributing to this loss was the substantial increase during the year in interest rates...