Financial information

Financial statements

The financial statements are prepared in accordance with the Statutes and accounting policies of the Bank. The accounting policies are based on International Financial Reporting Standards (IFRS) and are implemented in accordance with the decisions of the Board of Directors.

The BIS publishes audited annual financial statements  as at 31 March each year in its Annual Report, which provides a comprehensive overview and analysis of the Bank's balance sheet and profit and loss account, together with other financial, capital adequacy and risk management disclosures in line with international accounting frameworks. It also publishes unaudited semiannual financial statements as at 30 September each year.

The BIS balance sheet total was SDR 256.5 billion at 31 March 2018.

Liabilities

Deposits, primarily from central banks, constitute the largest share of the Bank's liabilities. At 31 March 2018, deposits (excluding repurchase agreements) amounted to SDR 221.5 billion.

The share of deposits denominated in US dollars increased from the previous year, while the share in euros fell significantly.

Assets

Most of the assets held by the BIS consist of government and quasi-government securities plus investments with commercial banks of international standing (including reverse repurchase agreements).

Total assets as of 31 March 2018 comprised 33% government and other securities including treasury bills, 29% sight account balances (mainly at central banks), 17% reverse repurchase agreements (primarily with sovereign bonds as collateral), and 9% gold and gold loans (the gold balance included 102 tonnes in the Bank's own investment portfolio).

Statement of account

The statement of account gives a current overview of the Bank's assets, liabilities and equity. It is produced monthly, as required by Article 49 of the Bank's Statutes.

Bank budget policy

Management prepares the expenditure budget by establishing an overall business plan consistent with the strategic direction and financial framework agreed with the BIS Board of Directors. Within this context, business areas specify their plans and corresponding resource requirements. The process of reconciling detailed business plans, objectives and overall resource availability culminates in a draft budget, which must be approved by the Board before the start of the financial year.

The budget has three components:

  • The regular administrative budget, which covers the Bank's ongoing annual expenditure, and its direct contribution to support the secretariats of the FSB, IAIS and IADI.
  • The regular capital budget, which covers annual expenditure on fixed assets (such as buildings, IT hardware and software).
  • A special budget, which covers a major three-year IT infrastructure and security programme over the period 2017/18-2019/20. This special budget includes both administrative and capital elements.

Details of the administrative and capital expenditures can be found in the Annual Report.