Central Bank of Cyprus joins the central bank gold agreement
In the interest of clarifying its intentions with respect to its gold holdings, the Central Bank of Cyprus agrees with and becomes a party to the joint statement of 8 March 2004 that has been signed by the European Central Bank, Banka Slovenije, Banca d’Italia, Banco de España, Banco de Portugal, Bank of Greece, Banque centrale du Luxembourg, Banque de France, Nationale Bank van België/Banque Nationale de Belgique, Deutsche Bundesbank, Central Bank and Financial Services Authority of Ireland, De Nederlandsche Bank, Oesterreichische Nationalbank, Suomen Pankki, Schweizerische Nationalbank, and Sveriges Riksbank.
In this respect the Central Bank of Cyprus makes the following statement:
- The Central Bank of Cyprus will adhere to the Central Bank Gold Agreement dated 8 March 2004. The maximum annual sales, as well as the total sales, both as specified in the original agreement of 8 March 2004 by the signatories to the Central Bank Gold Agreement, will remain unchanged over the period of the Agreement.
- The Central Bank of Cyprus has agreed not to expand its gold leasing and its use of gold futures and options over this period.