Balance sheet item (2)

Categorisation of contents of balance sheet items

Valuation principle

Scope of application (3)

1

1

Gold and gold receivables

Physical gold, i.e. bars, coins, plates, nuggets in storage or “under way”. Non-physical gold, such as balances in gold sight accounts (unallocated accounts), term deposits and claims to receive gold arising from the following transactions: (a) upgrading or downgrading transactions; and (b) gold location or purity swaps where there is a difference of more than one business day between release and receipt

Market value

Mandatory

2

2

Claims on non-euro area residents denominated in foreign currency

Claims on counterparties resident outside the euro area including international and supranational institutions and central banks outside the euro area denominated in foreign currency

2.1

2.1

Receivables from the International Monetary Fund (IMF)

(a)   Drawing rights within the reserve tranche (net)

National quota minus balances in euro at the disposal of the IMF. The No 2 account of the IMF (euro account for administrative expenses) may be included in this item or under the item “Liabilities to non-euro area residents denominated in euro”

(a)   Drawing rights within the reserve tranche (net)

Nominal value, translation at the foreign exchange market rate

Mandatory

(b)   SDRs

Holdings of SDRs (gross)

(b)   SDRs

Nominal value, translation at the foreign exchange market rate

Mandatory

(c)   Other claims

General arrangements to borrow, loans under special borrowing arrangements, deposits made to trusts under the management of the IMF

(c)   Other claims

Nominal value, translation at the foreign exchange market rate

Mandatory

2.2

2.2

Balances with banks and security investments, external loans and other external assets

(a)   Balances with banks outside the euro area other than those under asset item 11.3 “Other financial assets”

Current accounts, fixed-term deposits, day-to-day money, reverse repo transactions

(a)   Balances with banks outside the euro area

Nominal value, translation at the foreign exchange market rate

Mandatory

(b)   Security investments outside the euro area other than those under asset item 11.3 “Other financial assets”

Notes and bonds, bills, zero bonds, money market paper, equity instruments held as part of the foreign reserves, all issued by non-euro area residents

(i)   Marketable securities other than held-to-maturity

Market price and foreign exchange market rate

Any premiums or discounts are amortised

Mandatory

(ii)   Marketable securities classified as held-to-maturity

Cost subject to impairment and foreign exchange market rate

Any premiums or discounts are amortised

Mandatory

(iii)   Non-marketable securities

Cost subject to impairment and foreign exchange market rate

Any premiums or discounts are amortised

Mandatory

(iv)   Marketable equity instruments

Market price and foreign exchange market rate

Mandatory

(c)   External loans (deposits) outside the euro area other than those under asset item 11.3 “Other financial assets”

(c)   External loans

Deposits at nominal value translated at the foreign exchange market rate

Mandatory

(d)   Other external assets

Non-euro area banknotes and coins

(d)   Other external assets

Nominal value, translation at the foreign exchange market rate

Mandatory

3

3

Claims on euro area residents denominated in foreign currency

(a)   Security investments inside the euro area other than those under asset item 11.3 “Other financial assets”

Notes and bonds, bills, zero bonds, money market paper, equity instruments held as part of the foreign reserves, all issued by euro area residents

(i)   Marketable securities other than held-to-maturity

Market price and foreign exchange market rate

Any premiums or discounts are amortised

Mandatory

(ii)   Marketable securities classified as held-to-maturity

Cost subject to impairment and foreign exchange market rate

Any premiums or discounts are amortised

Mandatory

(iii)   Non-marketable securities

Cost subject to impairment and foreign exchange market rate

Any premiums or discounts are amortised

Mandatory

(iv)   Marketable equity instruments

Market price and foreign exchange market rate

Mandatory

(b)   Other claims on euro area residents other than those under asset item 11.3 “Other financial assets”

Loans, deposits, reverse repo transactions, sundry lending

(b)   Other claims

Deposits and other lending at nominal value, translated at the foreign exchange market rate

Mandatory

4

4

Claims on non-euro area residents denominated in euro

4.1

4.1

Balances with banks, security investments and loans

(a)   Balances with banks outside the euro area other than those under asset item 11.3 “Other financial assets”

Current accounts, fixed-term deposits, day-to-day money. Reverse repo transactions in connection with the management of securities denominated in euro

(a)   Balances with banks outside the euro area

Nominal value

Mandatory

(b)   Security investments outside the euro area other than those under asset item 11.3 “Other financial assets”

Equity instruments, notes and bonds, bills, zero bonds, money market paper, all issued by non-euro area residents

(i)   Marketable securities other than held-to-maturity

Market price

Any premiums or discounts are amortised

Mandatory

(ii)   Marketable securities classified as held-to-maturity

Cost subject to impairment

Any premiums or discounts are amortised

Mandatory

(iii)   Non-marketable securities

Cost subject to impairment

Any premiums or discounts are amortised

Mandatory

(iv)   Marketable equity instruments

Market price

Mandatory

(c)   Loans outside the euro area other than those under asset item 11.3 “Other financial assets”

(c)   Loans outside the euro area

Deposits at nominal value

Mandatory

(d)   Securities other than those under asset item 11.3 “Other financial assets”, issued by entities outside the euro area

Securities issued by supranational or international organisations, e.g. the European Investment Bank, irrespective of their geographical location

(i)   Marketable securities other than held-to-maturity

Market price

Any premiums or discounts are amortised

Mandatory

(ii)   Marketable securities classified as held-to-maturity

Cost subject to impairment

Any premiums or discounts are amortised

Mandatory

(iii)   Non-marketable securities

Cost subject to impairment

Any premiums or discounts are amortised

Mandatory

4.2

4.2

Claims arising from the credit facility under ERM II

Lending according to the ERM II conditions

Nominal value

Mandatory

5

5

Lending to euro area credit institutions related to monetary policy operations denominated in euro

Items 5.1 to 5.5: transactions according to the respective monetary policy instruments described in Annex I to Guideline ECB/2011/14 of 20 September 2011 on monetary policy instruments and procedures of the Eurosystem (4)

5.1

5.1

Main refinancing operations

Regular liquidity-providing reverse transactions with a weekly frequency and normally a maturity of one week

Nominal value or repo cost

Mandatory

5.2

5.2

Longer-term refinancing operations

Regular liquidity-providing reverse transactions with a monthly frequency and normally a maturity of three months

Nominal value or repo cost

Mandatory

5.3

5.3

Fine-tuning reverse operations

Reverse transactions, executed as ad hoc transactions for fine-tuning purposes

Nominal value or repo cost

Mandatory

5.4

5.4

Structural reverse operations

Reverse transactions adjusting the structural position of the Eurosystem vis-à-vis the financial sector

Nominal value or repo cost

Mandatory

5.5

5.5

Marginal lending facility

Overnight liquidity facility at a pre-specified interest rate against eligible assets (standing facility)

Nominal value or repo cost

Mandatory

5.6

5.6

Credits related to margin calls

Additional credit to credit institutions, arising from value increases of underlying assets regarding other credit to these credit institutions

Nominal value or cost

Mandatory

6

6

Other claims on euro area credit institutions denominated in euro

Current accounts, fixed-term deposits, day-to-day money, reverse repo transactions in connection with the management of security portfolios under the asset item 7 ‘Securities of euro area residents denominated in euro’, including transactions resulting from the transformation of former foreign currency reserves of the euro area and other claims. Correspondent accounts with non-domestic euro area credit institutions. Other claims and operations unrelated to monetary policy operations of the Eurosystem including Emergency Liquidity Assistance. Any claims stemming from monetary policy operations initiated by an NCB prior to joining the Eurosystem

Nominal value or cost

Mandatory

7

7

Securities of euro area residents denominated in euro

7.1

7.1

Securities held for monetary policy purposes

Securities issued in the euro area held for monetary policy purposes. ECB debt certificates purchased for fine-tuning purposes

(a)   Marketable securities other than held-to-maturity

Market price

Any premiums or discounts are amortised

Mandatory

(b)   Marketable securities classified as held-to-maturity

Cost subject to impairment (cost when the impairment is covered by a provision under liability item 13 (b) “Provisions”)

Any premiums or discounts are amortised

Mandatory

(c)   Non-marketable securities

Cost subject to impairment

Any premiums or discounts are amortised

Mandatory

7.2

7.2

Other securities

Securities other than those under asset item 7.1 “Securities held for monetary policy purposes” and under asset item 11.3 “Other financial assets”; notes and bonds, bills, zero bonds, money market paper held outright, including government securities stemming from before EMU, denominated in euro. Equity instruments

(a)   Marketable securities other than held-to-maturity

Market price

Any premiums or discounts are amortised

Mandatory

(b)   Marketable securities classified as held-to-maturity

Cost subject to impairment

Any premiums or discounts are amortised

Mandatory

(c)   Non-marketable securities

Cost subject to impairment

Any premiums or discounts are amortised

Mandatory

(d)   Marketable equity instruments

Market price

Mandatory

8

8

General government debt denominated in euro

Claims on government stemming from before EMU (non-marketable securities, loans)

Deposits/loans at nominal value, non-marketable securities at cost

Mandatory

—

9

Intra-Eurosystem claims+)

—

9.1

Participating interest in ECB+)

Only an NCB balance sheet item

The ECB capital share of each NCB in accordance with the Treaty and the respective capital key and contributions in accordance with Article 48.2 of the Statute of the ESCB

Cost

Mandatory

—

9.2

Claims equivalent to the transfer of foreign reserves+)

Only an NCB balance sheet item

Euro-denominated claims on the ECB in respect of initial and additional transfers of foreign reserves under Article 30 of the Statute of the ESCB

Nominal value

Mandatory

—

9.3

Claims related to the issuance of ECB debt certificates+)

Only an ECB balance sheet item

Intra-Eurosystem claims vis-à-vis NCBs, arising from the issuance of ECB debt certificates

Cost

Mandatory

—

9.4

Net claims related to the allocation of euro banknotes within the Eurosystem+)  (*1)

For the NCBs: net claim related to the application of the banknote allocation key i.e. including the ECB’s banknote issue related intra-Eurosystem balances, the compensatory amount and its balancing accounting entry as defined by Decision ECB/2010/23 of 25 November 2010 on the allocation of monetary income of the national central banks of Member States whose currency is the euro (5)

For the ECB: claims related to the ECB’s banknote issue, in accordance with Decision ECB/2010/29

Nominal value

Mandatory

—

9.5

Other claims within the Eurosystem (net)+)

Net position of the following sub-items:

Mandatory

Mandatory

Mandatory

9

10

Items in the course of settlement

Settlement account balances (claims), including the float of cheques in collection

Nominal value

Mandatory

9

11

Other assets

9

11.1

Coins of euro area

euro coins if an NCB is not the legal issuer

Nominal value

Mandatory

9

11.2

Tangible and intangible fixed assets

Land and buildings, furniture and equipment including computer equipment, software

Cost less depreciation

Depreciation rates:

Capitalisation of expenditure: limit based (below EUR 10 000 excluding VAT: no capitalisation)

Recommended

9

11.3

Other financial assets

(a)   Marketable equity instruments

Market price

Recommended

(b)   Participating interests and illiquid equity shares, and any other equity instruments held as permanent investments

Cost subject to impairment

Recommended

(c)   Investment in subsidiaries or significant interests

Net asset value

Recommended

(d)   Marketable securities other than held-to-maturity

Market price

Any premiums or discounts are amortised

Recommended

(e)   Marketable securities classified as held-to-maturity or held as a permanent investment

Cost subject to impairment

Any premiums or discounts are amortised

Recommended

(f)   Non-marketable securities

Cost subject to impairment

Any premiums or discounts are amortised

Recommended

(g)   Balances with banks and loans

Nominal value, translated at the foreign exchange market rate if the balances or deposits are denominated in foreign currencies

Recommended

9

11.4

Off-balance-sheet instruments revaluation differences

Valuation results of foreign exchange forwards, foreign exchange swaps, interest rate swaps, forward rate agreements, forward transactions in securities, foreign exchange spot transactions from trade date to settlement date

Net position between forward and spot, at the foreign exchange market rate

Mandatory

9

11.5

Accruals and prepaid expenditure

Income not due in, but assignable to the reported period. Prepaid expenditure and accrued interest paid (i.e. accrued interest purchased with a security)

Nominal value, foreign exchange translated at market rate

Mandatory

9

11.6

Sundry

Advances, loans and other minor items.

Revaluation suspense accounts (only balance sheet item during the year: unrealised losses at revaluation dates during the year, which are not covered by the respective revaluation accounts under the liability item “Revaluation accounts”). Loans on a trust basis. Investments related to customer gold deposits. Coins denominated in national euro area currency units. Current expense (net accumulated loss), loss of the previous year before coverage. Net pension assets

Nominal value or cost

Recommended

Revaluation suspense accounts

Revaluation difference between average cost and market value, foreign exchange translated at market rate

Mandatory

Investments related to customer gold deposits

Market value

Mandatory

Outstanding claims arising from the default of Eurosystem counterparties in the context of Eurosystem credit operations

Outstanding claims (from defaults)

Nominal/recoverable value (before/after settlement of losses)

Mandatory

Assets or claims (vis-à-vis third parties) appropriated and/or acquired in the context of the realisation of collateral submitted by Eurosystem counterparties in default

Assets or claims (from defaults)

Cost (converted at the foreign exchange market rate at the time of the acquisition if financial assets are denominated in foreign currencies)

Mandatory

—

12

Loss for the year

Nominal value

Mandatory

Balance sheet item (6)

Categorisation of contents of balance sheet items

Valuation principle

Scope of application (7)

1

1

Banknotes in circulation  (*2)

Mandatory

Mandatory

2

2

Liabilities to euro area credit institutions related to monetary policy operations denominated in euro

Items 2.1, 2.2, 2.3 and 2.5: deposits in euro as described in Annex I to Guideline ECB/2011/14

2.1

2.1

Current accounts (covering the minimum reserve system)

euro accounts of credit institutions that are included in the list of financial institutions subject to minimum reserves in accordance with the Statute of the ESCB. This item contains primarily accounts used in order to hold minimum reserves

Nominal value

Mandatory

2.2

2.2

Deposit facility

Overnight deposits at a pre-specified interest rate (standing facility)

Nominal value

Mandatory

2.3

2.3

Fixed-term deposits

Collection for liquidity absorption purposes owing to fine-tuning operations

Nominal value

Mandatory

2.4

2.4

Fine-tuning reverse operations

Monetary policy-related transactions with the aim of liquidity absorption

Nominal value or repo cost

Mandatory

2.5

2.5

Deposits related to margin calls

Deposits of credit institutions, arising from value decreases of underlying assets regarding credits to these credit institutions

Nominal value

Mandatory

3

3

Other liabilities to euro area credit institutions denominated in euro

Repo transactions in connection with simultaneous reverse repo transactions for the management of securities portfolios under asset item 7 “Securities of euro area residents denominated in euro”. Other operations unrelated to Eurosystem monetary policy operations. No current accounts of credit institutions. Any liabilities/deposits stemming from monetary policy operations initiated by a central bank prior to joining the Eurosystem

Nominal value or repo cost

Mandatory

4

4

Debt certificates issued

Only an ECB balance sheet item — for the NCBs a transitional balance sheet item.

Debt certificates as described in Annex I to Guideline ECB/2011/14. Discount paper, issued with the aim of liquidity absorption

Cost

Any discounts are amortised

Mandatory

5

5

Liabilities to other euro area residents denominated in euro

5.1

5.1

General government

Current accounts, fixed-term deposits, deposits repayable on demand

Nominal value

Mandatory

5.2

5.2

Other liabilities

Current accounts of staff, companies and clients including financial institutions listed as exempt from the obligation to hold minimum reserves (see liability item 2.1 “Current accounts”); fixed-term deposits, deposits repayable on demand

Nominal value

Mandatory

6

6

Liabilities to non-euro area residents denominated in euro

Current accounts, fixed-term deposits, deposits repayable on demand including accounts held for payment purposes and accounts held for reserve management purposes: of other banks, central banks, international/supranational institutions including the European Commission; current accounts of other depositors. Repo transactions in connection with simultaneous reverse repo transactions for the management of securities denominated in euro.

Balances of TARGET2 accounts of central banks of Member States whose currency is not the euro

Nominal value or repo cost

Mandatory

7

7

Liabilities to euro area residents denominated in foreign currency

Current accounts. liabilities under repo transactions; usually investment transactions using foreign currency assets or gold

Nominal value, translation at the foreign exchange market rate

Mandatory

8

8

Liabilities to non-euro area residents denominated in foreign currency

8.1

8.1

Deposits, balances and other liabilities

Current accounts. Liabilities under repo transactions; usually investment transactions using foreign currency assets or gold

Nominal value, translation at the foreign exchange market rate

Mandatory

8.2

8.2

Liabilities arising from the credit facility under ERM II

Borrowing in accordance with the ERM II conditions

Nominal value, translation at the foreign exchange market rate

Mandatory

9

9

Counterpart of special drawing rights allocated by the IMF

SDR-denominated item which shows the amount of SDRs that were originally allocated to the respective country/NCB

Nominal value, translation at the market rate

Mandatory

—

10

Intra-Eurosystem liabilities+)

—

10.1

Liabilities equivalent to the transfer of foreign reserves+)

Only an ECB balance sheet item denominated in euro

Nominal value

Mandatory

—

10.2

Liabilities related to the issuance of ECB debt certificates+)

Only an NCB balance sheet item

Intra-Eurosystem liability vis-à-vis the ECB, arising from the issuance of ECB debt certificates

Cost

Mandatory

—

10.3

Net liabilities related to allocation of euro banknotes within the Eurosystem+)  (*2)

Only an NCB balance sheet item.

For the NCBs: net liability related to the application of the banknote allocation key, i.e. including the ECB’s banknote issue related intra-Eurosystem balances, the compensatory amount and its balancing accounting entry as defined by Decision ECB/2010/23

Nominal value

Mandatory

—

10.4

Other liabilities within the Eurosystem (net)+)

Net position of the following sub-items:

Mandatory

Mandatory

Mandatory

10

11

Items in course of settlement

Settlement account balances (liabilities), including the float of giro transfers

Nominal value

Mandatory

10

12

Other liabilities

10

12.1

Off-balance-sheet instruments revaluation differences

Valuation results of foreign exchange forwards, foreign exchange swaps, interest rate swaps, forward rate agreements, forward transactions in securities, foreign exchange spot transactions from trade date to settlement date

Net position between forward and spot, at the foreign exchange market rate

Mandatory

10

12.2

Accruals and income collected in advance

Expenditure falling due in a future period but relating to the reported period. Income received in the reported period but relating to a future period

Nominal value, foreign exchange translated at market rate

Mandatory

10

12.3

Sundry

Taxation suspense accounts. Foreign currency credit or guarantee cover accounts. Repo transactions with credit institutions in connection with simultaneous reverse repo transactions for the management of securities portfolios under asset item 11.3 “Other financial assets”. Compulsory deposits other than reserve deposits. Other minor items. Current income (net accumulated profit), profit of the previous year before distribution. Liabilities on a trust basis. Customer gold deposits. Coins in circulation in the event that an NCB is the legal issuer. Banknotes in circulation denominated in national euro area currency units that have ceased to be legal tender but are still in circulation after the cash changeover year, if not shown under liability item “Provisions”. Net pension liabilities

Nominal value or (repo) cost

Recommended

Customer gold deposits

Market value

Customer gold deposits: mandatory

10

13

Provisions

Recommended

Mandatory

11

14

Revaluation accounts

Revaluation accounts related to price movements for gold, for every type of euro-denominated securities, for every type of foreign currency-denominated securities, for options; market valuation differences related to interest rate risk derivatives; revaluation accounts related to foreign exchange rate movements for every currency net position held, including foreign exchange swaps/forwards and SDRs

The contributions from NCBs in accordance with Article 48.2 of the Statute of the ESCB to the ECB are consolidated with the respective amounts disclosed under asset item 9.1 “Participating interest in the ECB”+)

Revaluation difference between average cost and market value, foreign exchange translated at market rate

Mandatory

12

15

Capital and reserves

12

15.1

Capital

Paid-up capital — the ECB’s capital is consolidated with the capital shares of the NCBs

Nominal value

Mandatory

12

15.2

Reserves

Legal reserves and other reserves. Retained earnings

The contributions from NCBs to the ECB in accordance with Article 48.2 of the Statute of the ESCB are consolidated with the respective amounts disclosed under asset item 9.1 “Participating interest in the ECB”+)

Nominal value

Mandatory

10

16

Profit for the year

Nominal value

Mandatory