Investor Presentaiton
Annual Report
AR
2022
SUMMARY
WHO WE
ARE
OUR
STRENGTH
AND
OUR
RESOURCES
OUR
RESULTS
Financial resources
FINANCIAL STATEMENTS AND RESULTS EVALUATION
The BCB's financial statements comprise the following
reports: Balance Sheet; Income Statement; Statement
of Comprehensive Income; Statement of Changes
in Equity; and Statement of Foreign Currencies Cash
Flows. The statements are prepared in accordance with
International Financial Reporting Standards (IFRS) issued
by the International Accounting Standards Board (IASB), an
international organization that sets international accounting
standards, with the aim of facilitating accounting analysis
and comparison between institutions in different countries.
BCB's Balance Sheet Structure
In the Balance Sheet, the balances of the accounts
representing assets and liabilities are segregated into foreign
currencies and local currency, in addition to shareholders'
equity at year-end.
The BCB's foreign currency assets are basically represented
by financial instruments related to the investment of
international reserves, in the form of securities, time
deposits with financial institutions, repurchase agreements,
gold, among other types of operations.
Regarding assets in local currency, almost 96% corresponds
to the portfolio of federal government securities used by
the BCB to implement monetary policy.
Liabilities denominated in foreign currencies are not very
significant, while liabilities in local currency represent 93%
of the total. Among these, the following stand out:
» balance of the National Treasury Operating Account,
which is operated by the BCB;
>> repurchase agreements (repos); and
>> reserve requirements balances.
For the purpose of calculating the equity position, the
balance of banknotes and coins in circulation, registered at
their face value, is also a BCB obligation.
Financial and Accounting Results
The BCB's net income, considering all revenues and
expenses, is calculated annually on an accrual basis and
covers the calendar year. In 2022, the BCB's net income
was negative by BRL 298,473 million, as detailed below:
Foreign Exchange Reserve
Operations and Swaps
reserves
In BRL million
Years ended
December 31
2022
2021
(326,535)
14,220
Profitability of the international
(406,306)
27,915
Profitability
(267,434) 127,230
Funding Cost
(138,872) (99,315)
Foreign exchange derivatives
79,771
(13,695)
28,062
71,676
(298,473)
85,896
Other transactions
Net income for the year
Note: negative values are shown in parentheses, according to the adopted
accounting standard.
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