PRESS RELEASE

Joint Statement on Gold

7 August 2009

European Central Bank

Nationale Bank van België/Banque Nationale de Belgique

Deutsche Bundesbank

Central Bank and Financial Services Authority of Ireland

Bank of Greece

Banco de España

Banque de France

Banca d’Italia

Central Bank of Cyprus

Banque centrale du Luxembourg

Bank Ċentrali ta’ Malta/Central Bank of Malta

De Nederlandsche Bank

Oesterreichische Nationalbank

Banco de Portugal

Banka Slovenije

Národná banka Slovenska

Suomen Pankki – Finlands Bank

Sveriges Riksbank

Swiss National Bank

In the interest of clarifying their intentions with respect to their gold holdings the undersigned institutions make the following statement:

  1. Gold remains an important element of global monetary reserves.
  2. The gold sales already decided and to be decided by the undersigned institutions will be achieved through a concerted programme of sales over a period of five years, starting on
    27 September 2009, immediately after the end of the previous agreement. Annual sales will not exceed 400 tonnes and total sales over this period will not exceed 2,000 tonnes.
  3. The signatories recognize the intention of the IMF to sell 403 tonnes of gold and noted that such sales can be accommodated within the above ceilings.
  4. This agreement will be reviewed after five years.

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