1. The Board approved methodological recommendations to banks with regard to the application of internal risk assessment models.
The methodological recommendations take into account the wider acquisition of trade assets by banks in expanding their activities in international markets, such as bonds, equities, interest rate or equity derivatives. Given the above developments, a need has arisen to assess the nature of the newly emerging risks and establish capital charges to offset those risks.
2. The Board approved amendments to the annual statements published by banks. A new item “Claims on derivative contracts” was introduced in the assets side of the balance sheet statement, and “Liabilities on derivative contracts” in the liabilities side. A new item “Financial assets revaluation reserve” was introduced within the shareholder’s equity of the balance sheet.
The amendments were made to meet the requirements of the IAS 39.
3. The Board decided to discontinue the collection of the weekly statements on loan and deposit interest rates. The decision was taken on the grounds that the more detailed monthly statement provides sufficiently timely data on loan and deposit flows and their interest rates.
The resolution becomes effective as from 1 January 2003.
4. The Board changed the Payment Instruments statement form 0607. The changes provide for a more comprehensive collection of data on the technology of payment instruments.
According to the currently available payment instrument statement data, the share of payment card transactions has increased from 4 per cent in 1996 to 33.8 per cent by now (i.e. September 2002) in the structure of cashless payments, reflecting the annual growth by a factor of 2.7?2.9.
Credit transfers and payment cards serve as the main instruments for cashless transactions. Credit transfers account for 64.5 per cent and payment cards for 30.6 per cent of the total number of transactions.
The spread of payment cards has been accompanied by a growing number of ATMs and POS terminals. At the end of 1999, there were 91 ATM per 1 000 000 population, while by now this number has reached 247. The number of POS terminals has increased from 1704 to 3232.