The item ‘Cash and balances with the central bank’ presents cash recognised at nominal value, and funds in the current account and deposits with the Central Bank measured at amounts due, which includes the potential interest on those funds.
|CASH AND BALANCES WITH THE CENTRAL BANK||31.12.2016||31.12.2015|
|Current account in the Central Bank||7 459.7||9 854.1|
|Cash on hand||4 185.4||3 889.7|
|Deposits with the Central Bank||1 680.0||0.1|
|Total||13 325.1||13 743.9|
During the course of the working day, the Group may use funds from the obligatory reserve accounts for ongoing payments, on the basis of an instruction submitted to the National Bank of Poland (NBP). However, the Group must ensure that the average monthly balance on this account complies with the requirements set in the obligatory reserve declaration.
Funds on the obligatory reserve account bear interest of 0.9 of the reference rate. As at 31 December 2016 and 2015, this interest rate was 1.35%.