Central Bank Balance Sheets for Finland, Ireland, and Slovenia

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Question 1
1) Finland
Balance sheet (total assets or total liabilities)
In 2019 and 2020, the total assets or total liabilities for the Finnish Central Bank were 126,609 million Euros 158,789 million Euros, and by 26 Nov 2021 was 206,152 million Euros. The main assets were securities of euro area residents denominated in euro. In contrast, the main liabilities were “liabilities to euro area credit institutions related to monetary policy operations denominated in Euro” (Bank of Finland 1).
Base money supply (M base)
 The banknotes in circulation were 23,884 million Euros in 2020 (Bank of Finland 1).
Foreign exchange reserves ®
In December 2020, the official reserves assets were 10,992 EUR million, out of which 6,584 EUR million were foreign currency reserves. Foreign currency reserves (in convertible foreign currencies) had increased to 7,011 EUR million on 15 Nov 2021.
Backing ratio (R/ (M base)
The backing ratio is 6, 584 million/ 23,884 million =0.28.
2) Ireland
Balance sheet (total assets or total liabilities)
The total assets (liabilities) were €141.489 billion in 2020 compared to €116.4 billion in 2019 (Central Bank of Ireland 13).
Base money supply (M base)
The banknotes in circulation were € 22,349,697,000 (Central Bank of Ireland 13).
Foreign exchange reserves ®
The official foreign exchange reserves were € 4,040 million in December 2020 and were the largest share of the reserve assets.
Backing ratio (R/ M base)
The backing ra...