Balance sheet item

Categorisation of contents of balance sheet items

Valuation principle

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

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

Receivables from the International Monetary Fund (IMF)

2.2

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

3

Claims on euro area residents denominated in foreign currency

4

Claims on non-euro area residents denominated in euro

4.1

Balances with banks, security investments and loans

4.2

Claims arising from the credit facility under the Exchange Rate Mechanism (ERM) II

Lending in accordance with the ERM II conditions

Nominal value

5

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

Items 5.1 to 5.5: transactions in accordance with the respective monetary policy instruments described in Guideline (EU) 2015/510 of the European Central Bank (ECB/2014/60) (*)

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

5.2

Longer-term refinancing operations

Regular liquidity-providing reverse transactions normally with a monthly frequency, with a maturity longer than that of the main refinancing operations

Nominal value or repo cost

5.3

Fine-tuning reverse operations

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

Nominal value or repo cost

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

5.5

Marginal lending facility

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

Nominal value or repo cost

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

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

Nominal value or cost

7

Securities of euro area residents denominated in euro

7.1

Securities held for monetary policy purposes

Securities held for monetary policy purposes (including securities purchased for monetary policy purposes issued by supranational or international organisations, or multilateral development banks, irrespective of their geographical location). European Central Bank (ECB) debt certificates purchased for fine-tuning purposes

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 Economic and Monetary Union (EMU), denominated in euro. Equity shares and investment funds

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

9

Intra-Eurosystem claims

9.1

Claims related to the issuance of ECB debt certificates

Intra-Eurosystem claims vis-à-vis national central banks (NCBs), arising from the issuance of ECB debt certificates

Cost

9.2

Claims related to the allocation of euro banknotes within the Eurosystem

Claims related to the ECB’s banknote issue, in accordance with Decision ECB/2010/29 of the European Central Bank (**)

Nominal value

9.3

Other claims within the Eurosystem (net)

Net position of the following sub-items:

10

Items in course of settlement

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

Nominal value

11

Other assets

11.1

Coins of euro area

Euro coins

Nominal value

11.2

Tangible and intangible fixed assets

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

Cost less depreciation

Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. The useful life is the period over which a fixed asset is expected to be available for use by the entity. Useful lives of individual material fixed assets may be reviewed on a systematic basis, if expectations differ from previous estimates. Major assets may comprise components with different useful lives. The lives of such components should be assessed individually

The cost of intangible assets includes the price for the acquisition of the intangible asset. Other direct or indirect costs are to be expensed

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

11.3

Other financial assets

11.4

Off-balance-sheet instruments revaluation differences

Valuation results of foreign exchange forwards, foreign exchange swaps, interest rate swaps (unless daily variation margin applies), 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

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

11.6

Sundry

12

Loss for the year

Nominal value

Balance sheet item

Categorisation of contents of balance sheet items

Valuation principle

1

Banknotes in circulation

Euro banknotes issued by the ECB, in accordance with Decision ECB/2010/29

Nominal value

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 Guideline (EU) 2015/510 (ECB/2014/60)

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 European System of Central Banks and of the European Central Bank (the ‘Statute of the ESCB’). This item contains primarily accounts used in order to hold minimum reserves

Nominal value

2.2

Deposit facility

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

Nominal value

2.3

Fixed-term deposits

Collection for liquidity absorption purposes owing to fine-tuning operations

Nominal value

2.4

Fine-tuning reverse operations

Monetary policy-related transactions with the aim of liquidity absorption

Nominal value or repo cost

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

3

Other liabilities to euro area credit institutions denominated in euro

Repo transactions with credit institutions 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

Nominal value or repo cost

4

ECB debt certificates issued

Debt certificates as described in Guideline (EU) 2015/510 (ECB/2014/60). Discount paper, issued with the aim of liquidity absorption

Cost

Any discounts are amortised

5

Liabilities to other euro area residents denominated in euro

5.1

General government

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

Nominal value

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); repo transactions with financial institutions other than credit institutions for the management of securities other than those under asset item 11.3 ‘Other financial assets’; fixed-term deposits, deposits repayable on demand

Nominal value

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 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

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, translated at year-end foreign exchange market rate

8

Liabilities to non-euro area residents denominated in foreign currency

8.1

Deposits, balances and other liabilities

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

Nominal value, translated at the year-end foreign exchange market rate

8.2

Liabilities arising from the credit facility under ERM II

Borrowing in accordance with the ERM II conditions

Nominal value, translated at the year-end foreign exchange market rate

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, translated at the year-end foreign exchange market rate

10

Intra-Eurosystem liabilities

10.1

Liabilities equivalent to the transfer of foreign reserves

ECB balance sheet item, denominated in euro

Nominal value

10.2

Other liabilities within the Eurosystem (net)

Net position of the following sub-items:

11

Items in course of settlement

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

Nominal value

12

Other liabilities

12.1

Off-balance-sheet instruments revaluation differences

Valuation results of foreign exchange forwards, foreign exchange swaps, interest rate swaps (unless daily variation margin applies), 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

12.2

Accruals and income collected in advance

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

Nominal value, foreign exchange translated at market rate

12.3

Sundry

13

Provisions

14

Revaluation accounts

15

Capital and reserves

15.1

Capital

Paid-up capital

Nominal value

15.2

Reserves

Legal reserves, in accordance with Article 33 of the Statute of the ESCB, and contributions in accordance with Article 48.2 of the Statute of the ESCB with respect to central banks of Member States whose derogations have been abrogated

Nominal value

16

Profit for the year

Nominal value

Profit and loss account for the year ending 31 December …

Reporting year

Previous year

1.1.1.

Interest income on foreign reserve assets

1.1.2.

Interest income arising from the allocation of euro banknotes within the Eurosystem

1.1.3.

Other interest income

1.1.

Interest income

1.2.1.

Remuneration of NCBs’ claims in respect of foreign reserves transferred

1.2.2.

Other interest expense

1.2.

Interest expense

1

Net interest income

2.1.

Realised gains/losses arising from financial operations

2.2.

Write-downs on financial assets and positions

2.3.

Transfer to/from provisions for financial risks

2

Net result of financial operations, write downs and risk provisions

3.1.

Fees and commissions income

3.2.

Fees and commissions expense

3

Net income/expense from fees and commissions (2)

4

Income from equity shares and participating interests

5

Other income

Total net income

6

Staff costs (3)

7

Administrative expenses (3)

8

Depreciation of tangible and intangible fixed assets

9

Banknote production services (4)

10

Other expenses

(Loss)/profit for the year