ARMENIAN CENTRAL BANK’s total capital amounts to AMD 298.4 million in late December 2011

YEREVAN, April 13. /ARKA/. Armenian central bank’s total capital amounted to AMD 298.4 million in late December 2011 against minus AMD 22.4 billion in late Dec 2010.
According to the central bank’s report, its authorized capital and general reserve remained unchanged, at AMD 100 million and 17.4 billion respectively, in 2011.
Cumulated asset revaluation reserves available for sale stood at minus AMD 1.2 billion in late December 2011 against minus AMD 1.6 billion in late Dec 2010.
Losses accumulated at the capital account totaled minus 123.5 billion against AMD 123.9 billion a year earlier.
Additional authorized capital at the central bank’s capital account, i.e. the government’s injections in the regulator’s capital, grew 25.5% over the year to AMD 107.5 billion.
Armenian law on the central bank states that if the regulator’s losses accumulated over a fiscal year exceed the total amount of reserves, the government, within 30 days after the release of the balance, provides interest-free demand bills equal to the missing amount as contribution to its capital.
These bills are redeemed at the central bank’s request from the government budget or in accordance with Article 12 of the mentioned law. ($1 – AMD 392.16). -0–