This figure stems from the bank’s 2018 annual report, which was presented this morning.
In terms of Euro banknotes, no new 500 Euro notes have been printed since January 2018, but those in circulation remain legal tender and can as of yet be used for an unlimited period.
For 2018, BCL’s total balance amounted to nearly 228 billion, a 10% increase compared to the previous year. The bank closed the 2018 financial year with a small profit of 1,99 million Euros.
As regards the liability side of the balance sheet, the volume of deposits made by Luxembourgish banks with BCL amounts to approximately 120,000 million Euros.
In the Luxembourg financial centre, the European Central Bank directly supervises six banking institutions, which then oversee 119 banks throughout the Euro zone.
In 2018, BCL personnel costs – 393 employees – reached some 45 million euros.
The director of the Central Bank of Luxembourg is currently Gaston Reinesch. His mandate has been extended until 2025 by the Governing Council. Last year, two women entered the BCL council, Nadia Manzari and Martine Reicherts.
