The following are a complete list of the assets and the liabilities of a central bank - let's call the central bank The Reserve Bank.

Net foreign currency reserves (and gold) $70bn

Currency at issue and bank vault money $90bn

Other assets $30bn

Government balance $40bn

Balances held at the central bank by foreign central banks and others $3bn

Outstanding loans to banks and others $1bn

Exchange settlement balances $85bn

Other liabilities $28bn

Government and other securities $160bn

1) Identify each of the above as an asset or liability for the central bank. (3 marks)

2) Calculate the 'net worth' or 'equity capital' of the central bank. (1 mark)

3) Draw up the balance sheet of the central bank, in full. (2 marks)

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