# Official Journal L 419/2021

| | ISSN 1977-0677 |
| --- | --- |
| Official Journal
  of the European Union | L 419 |
| | |
| English edition | Legislation | Volume 6424 November 2021 |

ISSN 1977-0677

Official Journal

of the European Union

L 419

English edition

Legislation

Volume 6424 November 2021

---

| Contents | | II   Non-legislative acts | page |
| --- | --- | --- | --- |
| | | DECISIONS |
| | * | Decision (EU) 2021/2040 of the European Central Bank of 11 November 2021 amending Decision (EU) 2016/2247 on the annual accounts of the European Central Bank (ECB/2021/52) | 1 |
| | | GUIDELINES |
| | * | Guideline (EU) 2021/2041 of the European Central Bank of 11 November 2021 amending Guideline (EU) 2016/2249 on the legal framework for accounting and financial reporting in the European System of Central Banks (ECB/2021/51) | 14 |
| | | ACTS ADOPTED BY BODIES CREATED BY INTERNATIONAL AGREEMENTS |
| | * | Decision No 2/2021 of the Joint Committee established by the Common Aviation Area Agreement between the European Union and its Member States and the Republic of Moldova of 2 June 2021 replacing Annex III to the Common Aviation Area Agreement between the European Union and its Member States and the Republic of Moldova [2021/2042] | 34 |

Contents

II   Non-legislative acts

page

DECISIONS

*

Decision (EU) 2021/2040 of the European Central Bank of 11 November 2021 amending Decision (EU) 2016/2247 on the annual accounts of the European Central Bank (ECB/2021/52)

(ECB/2021/52)

1

GUIDELINES

*

Guideline (EU) 2021/2041 of the European Central Bank of 11 November 2021 amending Guideline (EU) 2016/2249 on the legal framework for accounting and financial reporting in the European System of Central Banks (ECB/2021/51)

(ECB/2021/51)

14

ACTS ADOPTED BY BODIES CREATED BY INTERNATIONAL AGREEMENTS

*

Decision No 2/2021 of the Joint Committee established by the Common Aviation Area Agreement between the European Union and its Member States and the Republic of Moldova of 2 June 2021 replacing Annex III to the Common Aviation Area Agreement between the European Union and its Member States and the Republic of Moldova [2021/2042]

34

| EN | Acts whose titles are printed in light type are those relating to day-to-day management of agricultural matters, and are generally valid for a limited period.
  The titles of all other Acts are printed in bold type and preceded by an asterisk. |
| --- | --- |

EN

Acts whose titles are printed in light type are those relating to day-to-day management of agricultural matters, and are generally valid for a limited period.

The titles of all other Acts are printed in bold type and preceded by an asterisk.

---

II Non-legislative acts

DECISIONS

| 24.11.2021 | EN | Official Journal of the European Union | L 419/1 |
| --- | --- | --- | --- |

24.11.2021

EN

Official Journal of the European Union

L 419/1

---

DECISION (EU) 2021/2040 OF THE EUROPEAN CENTRAL BANK

of 11 November 2021

amending Decision (EU) 2016/2247 on the annual accounts of the European Central Bank (ECB/2021/52)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 26.2 thereof,

Whereas:

| (1) | Decision (EU) 2016/2247 of the European Central Bank (ECB/2016/35) (1) lays down the rules for drawing up the annual accounts of the European Central Bank (ECB). |
| --- | --- |

(1)

Decision (EU) 2016/2247 of the European Central Bank (ECB/2016/35) (1) lays down the rules for drawing up the annual accounts of the European Central Bank (ECB).

| (2) | Technical amendments to Annex I are required for the purpose of: (a) ensuring consistency across the Eurosystem with regard to the financial reporting of balances with, and securities issued by, international organisations; (b) allowing the classification of defaulted securities as part of sundry items on the asset side of the balance sheet; and (c) clarifying the classification of funds and accounts of credit and financial institutions on the liability side of the balance sheet. |
| --- | --- |

(2)

Technical amendments to Annex I are required for the purpose of: (a) ensuring consistency across the Eurosystem with regard to the financial reporting of balances with, and securities issued by, international organisations; (b) allowing the classification of defaulted securities as part of sundry items on the asset side of the balance sheet; and (c) clarifying the classification of funds and accounts of credit and financial institutions on the liability side of the balance sheet.

| (3) | Therefore, Decision (EU) 2016/2247 (ECB/2016/35) should be amended accordingly, |
| --- | --- |

(3)

Therefore, Decision (EU) 2016/2247 (ECB/2016/35) should be amended accordingly,

HAS ADOPTED THIS DECISION:

Article 1

Amendment

Annex I to Decision (EU) 2016/2247 (ECB/2016/35) is replaced by the Annex to this Decision.

Article 2

Entry into force

This Decision shall enter into force on 31 December 2021.

Done at Frankfurt am Main, 11 November 2021.

The President of the ECB

Christine LAGARDE

---

(1)  Decision (EU) 2016/2247 of the European Central Bank of 3 November 2016 on the annual accounts of the European Central Bank (ECB/2016/35) (OJ L 347, 20.12.2016, p. 1).

1

---

ANNEX

Annex I to Decision (EU) 2016/2247 (ECB/2016/35) is replaced by the following:

‘ANNEX I

COMPOSITION AND VALUATION RULES FOR THE BALANCE SHEET

ASSETS

| | Balance sheet item (1) | 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 1 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 central banks outside the euro area denominated in foreign currency | |
| 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’ |

Balance sheet item (1)

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 1 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 central banks outside the euro area denominated in foreign currency

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, translated at the foreign exchange market rate |
| --- | --- |

(a)

Drawing rights within the reserve tranche (net)

Nominal value, translated at the foreign exchange market rate

| (b) | Special drawing rights (SDRs)

  Holdings of SDRs (gross) |
| --- | --- |

(b)

Special drawing rights (SDRs)

Holdings of SDRs (gross)

| (b) | SDRs

  Nominal value, translated at the foreign exchange market rate |
| --- | --- |

(b)

SDRs

Nominal value, translated at the foreign exchange market rate

| (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

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

| (c) | Other claims

  Nominal value, translated at the foreign exchange market rate |
| --- | --- |

(c)

Other claims

Nominal value, translated at the foreign exchange market rate

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 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, translated at the foreign exchange market rate |
| --- | --- |

(a)

Balances with banks outside the euro area

Nominal value, translated at the foreign exchange market rate

| (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 shares, investment funds held as part of the foreign reserves, all issued by non-euro area residents |
| --- | --- |

(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 shares, investment funds held as part of the foreign reserves, all issued by non-euro area residents

| (b) | (i) | Marketable debt securities other than held-to-maturity

  Market price and foreign exchange market rate. Any premiums or discounts are amortised |
| --- | --- | --- |

(b)

(i)

Marketable debt securities other than held-to-maturity

Market price and foreign exchange market rate. Any premiums or discounts are amortised

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

  Cost subject to impairment and foreign exchange market rate. Any premiums or discounts are amortised |
| --- | --- |

(ii)

Marketable debt securities classified as held-to-maturity

Cost subject to impairment and foreign exchange market rate. Any premiums or discounts are amortised

| (iii) | Non-marketable debt securities

  Cost subject to impairment and foreign exchange market rate. Any premiums or discounts are amortised |
| --- | --- |

(iii)

Non-marketable debt securities

Cost subject to impairment and foreign exchange market rate. Any premiums or discounts are amortised

| (iv) | Marketable equity shares

  Market price and foreign exchange market rate |
| --- | --- |

(iv)

Marketable equity shares

Market price and foreign exchange market rate

| (v) | Marketable investment funds

  Market price and foreign exchange market rate |
| --- | --- |

(v)

Marketable investment funds

Market price and foreign exchange market rate

| (c) | External loans (deposits) to non-euro area residents other than those under asset item 11.3 ‘Other financial assets’ |
| --- | --- |

(c)

External loans (deposits) to non-euro area residents 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 |
| --- | --- |

(c)

External loans

Deposits at nominal value, translated at the foreign exchange market rate

| (d) | Other external assets

  Non-euro area banknotes and coins |
| --- | --- |

(d)

Other external assets

Non-euro area banknotes and coins

| (d) | Other external assets

  Nominal value, translated at the foreign exchange market rate |
| --- | --- |

(d)

Other external assets

Nominal value, translated at the foreign exchange market rate

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 shares, investment funds, held as part of the foreign reserves, all issued by euro area residents |
| --- | --- |

(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 shares, investment funds, held as part of the foreign reserves, all issued by euro area residents

| (a) | (i) | Marketable debt securities other than held-to-maturity |
| --- | --- | --- |

(a)

(i)

Marketable debt securities other than held-to-maturity

Market price and foreign exchange market rate. Any premiums or discounts are amortised

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

  Cost subject to impairment and foreign exchange market rate. Any premiums or discounts are amortised |
| --- | --- |

(ii)

Marketable debt securities classified as held-to-maturity

Cost subject to impairment and foreign exchange market rate. Any premiums or discounts are amortised

| (iii) | Non-marketable debt securities

  Cost subject to impairment and foreign exchange market rate. Any premiums or discounts are amortised |
| --- | --- |

(iii)

Non-marketable debt securities

Cost subject to impairment and foreign exchange market rate. Any premiums or discounts are amortised

| (iv) | Marketable equity shares

  Market price and foreign exchange market rate |
| --- | --- |

(iv)

Marketable equity shares

Market price and foreign exchange market rate

| (v) | Marketable investment funds

  Market price and foreign exchange market rate |
| --- | --- |

(v)

Marketable investment funds

Market price and foreign exchange market rate

| (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 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 |
| --- | --- |

(b)

Other claims

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

4

Claims on non-euro area residents denominated in euro

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 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 |
| --- | --- |

(a)

Balances with banks outside the euro area

Nominal value

| (b) | Securities issued by entities outside the euro area other than those under asset item 11.3 ‘Other financial assets’ or asset item 7.1 ‘Securities held for monetary policy purposes’

  Equity shares, investment funds, notes and bonds, bills, zero bonds, money market paper, all issued by non-euro area residents |
| --- | --- |

(b)

Securities issued by entities outside the euro area other than those under asset item 11.3 ‘Other financial assets’ or asset item 7.1 ‘Securities held for monetary policy purposes’

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

| (b) | (i) | Marketable debt securities other than held-to-maturity

  Market price. Any premiums or discounts are amortised |
| --- | --- | --- |

(b)

(i)

Marketable debt securities other than held-to-maturity

Market price. Any premiums or discounts are amortised

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

  Cost subject to impairment. Any premiums or discounts are amortised |
| --- | --- |

(ii)

Marketable debt securities classified as held-to-maturity

Cost subject to impairment. Any premiums or discounts are amortised

| (iii) | Non-marketable debt securities

  Cost subject to impairment. Any premiums or discounts are amortised |
| --- | --- |

(iii)

Non-marketable debt securities

Cost subject to impairment. Any premiums or discounts are amortised

| (iv) | Marketable equity shares

  Market price |
| --- | --- |

(iv)

Marketable equity shares

Market price

| (v) | Marketable investment funds

  Market price |
| --- | --- |

(v)

Marketable investment funds

Market price

| (c) | Loans to non-euro area residents other than those under asset item 11.3 ‘Other financial assets’ |
| --- | --- |

(c)

Loans to non-euro area residents other than those under asset item 11.3 ‘Other financial assets’

| (c) | Loans outside the euro area

  Deposits at nominal value |
| --- | --- |

(c)

Loans outside the euro area

Deposits at nominal value

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) (2)

5.1

Main refinancing operations

Regular liquidity-providing reverse transactions with a weekly frequency and normally a maturity of 1 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

| (a) | Marketable debt securities

  Accounted for depending on monetary policy considerations:






  (i) | Market price. Any premiums or discounts are amortised |
| --- | --- | --- |

(a)

Marketable debt securities

Accounted for depending on monetary policy considerations:

(i)

Market price. Any premiums or discounts are amortised

| (ii) | 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 |
| --- | --- |

(ii)

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

| (b) | Non-marketable debt securities

  Cost subject to impairment. Any premiums or discounts are amortised |
| --- | --- |

(b)

Non-marketable debt securities

Cost subject to impairment. Any premiums or discounts are amortised

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

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

  Market price. Any premiums or discounts are amortised |
| --- | --- |

(a)

Marketable debt securities other than held-to-maturity

Market price. Any premiums or discounts are amortised

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

  Cost subject to impairment. Any premiums or discounts are amortised |
| --- | --- |

(b)

Marketable debt securities classified as held-to-maturity

Cost subject to impairment. Any premiums or discounts are amortised

| (c) | Non-marketable debt securities

  Cost subject to impairment. Any premiums or discounts are amortised |
| --- | --- |

(c)

Non-marketable debt securities

Cost subject to impairment. Any premiums or discounts are amortised

| (d) | Marketable equity shares

  Market price |
| --- | --- |

(d)

Marketable equity shares

Market price

| (e) | Marketable investment funds

  Market price |
| --- | --- |

(e)

Marketable investment funds

Market price

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 (3)

Nominal value

9.3

Other claims within the Eurosystem (net)

Net position of the following sub-items:

| (a) | net claims arising from balances of TARGET2 accounts and correspondent accounts of NCBs, i.e. the net figure of claims and liabilities. See also liability item 10.2 ‘Other liabilities within the Eurosystem (net)’ |
| --- | --- |

(a)

net claims arising from balances of TARGET2 accounts and correspondent accounts of NCBs, i.e. the net figure of claims and liabilities. See also liability item 10.2 ‘Other liabilities within the Eurosystem (net)’

| (a) | Nominal value |
| --- | --- |

(a)

Nominal value

| (b) | other intra-Eurosystem claims denominated in euro that may arise, including the interim distribution of ECB income to NCBs |
| --- | --- |

(b)

other intra-Eurosystem claims denominated in euro that may arise, including the interim distribution of ECB income to NCBs

| (b) | Nominal value |
| --- | --- |

(b)

Nominal value

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

| — | Participating interests and investments in subsidiaries, equitiy shares and investment funds held for strategic/policy reasons |
| --- | --- |

—

Participating interests and investments in subsidiaries, equitiy shares and investment funds held for strategic/policy reasons

| — | Securities including equity shares and investment funds, and other financial instruments and balances including fixed-term deposits and current accounts held as an earmarked portfolio |
| --- | --- |

—

Securities including equity shares and investment funds, and other financial instruments and balances including fixed-term deposits and current accounts held as an earmarked portfolio

| — | Reverse repo transactions with financial institutions in connection with the management of securities portfolios under this asset item |
| --- | --- |

—

Reverse repo transactions with financial institutions in connection with the management of securities portfolios under this asset item

| — | Euro denominated reverse repo transactions with euro area financial institutions other than credit institutions in connection with the management of securities portfolios other than those held under this item |
| --- | --- |

—

Euro denominated reverse repo transactions with euro area financial institutions other than credit institutions in connection with the management of securities portfolios other than those held under this item

| (a) | Marketable equity shares

  Market price |
| --- | --- |

(a)

Marketable equity shares

Market price

| (b) | Marketable investment funds

  Market price |
| --- | --- |

(b)

Marketable investment funds

Market price

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

  Cost subject to impairment |
| --- | --- |

(c)

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

Cost subject to impairment

| (d) | Investment in subsidiaries or significant interests

  Net asset value |
| --- | --- |

(d)

Investment in subsidiaries or significant interests

Net asset value

| (e) | Marketable debt securities other than held-to-maturity

  Market price. Premiums/discounts are amortised |
| --- | --- |

(e)

Marketable debt securities other than held-to-maturity

Market price. Premiums/discounts are amortised

| (f) | Marketable debt securities classified as held-to-maturity or held as a permanent investment

  Cost subject to impairment. Any premiums or discounts are amortised |
| --- | --- |

(f)

Marketable debt securities classified as held-to-maturity or held as a permanent investment

Cost subject to impairment. Any premiums or discounts are amortised

| (g) | Non-marketable debt securities

  Cost subject to impairment |
| --- | --- |

(g)

Non-marketable debt securities

Cost subject to impairment

| (h) | Balances with banks and loans

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

(h)

Balances with banks and loans

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

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

| (a) | Advances, loans and other minor items. Loans on a trust basis |
| --- | --- |

(a)

Advances, loans and other minor items. Loans on a trust basis

| (a) | Nominal value or cost |
| --- | --- |

(a)

Nominal value or cost

| (b) | Investments related to customer gold deposits |
| --- | --- |

(b)

Investments related to customer gold deposits

| (b) | Market value |
| --- | --- |

(b)

Market value

| (c) | Net pension assets |
| --- | --- |

(c)

Net pension assets

| (c) | As per Article 25(2) |
| --- | --- |

(c)

As per Article 25(2)

| (d) | Outstanding claims and securities arising from the default of eligible counterparties or issuers in the context of Eurosystem monetary policy operations |
| --- | --- |

(d)

Outstanding claims and securities arising from the default of eligible counterparties or issuers in the context of Eurosystem monetary policy operations

| (d) | Nominal/recoverable value (before/after settlement of losses) |
| --- | --- |

(d)

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

| (e) | 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 |
| --- | --- |

(e)

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

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

(e)

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

12

Loss for the year

Nominal value

LIABILITIES

| | Balance sheet item (4) | 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’) except for credit institutions exempt from minimum reserve requirements. This item contains primarily accounts used in order to hold minimum reserves and excludes funds of credit institutions that are not freely disposable. | 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. Funds of credit institutions that are not freely disposable, and accounts of credit institutions exempt from minimum reserve requirements. | 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 not subject to minimum reserve requirements (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. 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:






  (a) | net liabilities arising from balances of TARGET2 accounts and correspondent accounts of NCBs, i.e. the net figure of claims and liabilities. See also asset item 9.3 ‘Other claims within the Eurosystem (net)’ |

Balance sheet item (4)

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’) except for credit institutions exempt from minimum reserve requirements. This item contains primarily accounts used in order to hold minimum reserves and excludes funds of credit institutions that are not freely disposable.

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. Funds of credit institutions that are not freely disposable, and accounts of credit institutions exempt from minimum reserve requirements.

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 not subject to minimum reserve requirements (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. 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:

(a)

net liabilities arising from balances of TARGET2 accounts and correspondent accounts of NCBs, i.e. the net figure of claims and liabilities. See also asset item 9.3 ‘Other claims within the Eurosystem (net)’

| (a) | Nominal value |
| --- | --- |

(a)

Nominal value

| (b) | other intra-Eurosystem liabilities denominated in euro that may arise, including the interim distribution of ECB income to NCBs |
| --- | --- |

(b)

other intra-Eurosystem liabilities denominated in euro that may arise, including the interim distribution of ECB income to NCBs

| (b) | Nominal value |
| --- | --- |

(b)

Nominal value

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

| (a) | Taxation suspense accounts. Foreign currency credit or guarantee cover accounts. Repo transactions with financial institutions for the management of securities portfolios under asset item 11.3 ‘Other financial assets’. Compulsory deposits other than reserve deposits. Other minor items. Liabilities on a trust basis |
| --- | --- |

(a)

Taxation suspense accounts. Foreign currency credit or guarantee cover accounts. Repo transactions with financial institutions for the management of securities portfolios under asset item 11.3 ‘Other financial assets’. Compulsory deposits other than reserve deposits. Other minor items. Liabilities on a trust basis

| (a) | Nominal value or (repo) cost |
| --- | --- |

(a)

Nominal value or (repo) cost

| (b) | Customer gold deposits |
| --- | --- |

(b)

Customer gold deposits

| (b) | Market value |
| --- | --- |

(b)

Market value

| (c) | Net pension liabilities |
| --- | --- |

(c)

Net pension liabilities

| (c) | As per Article 25(2) |
| --- | --- |

(c)

As per Article 25(2)

13

Provisions

| (a) | For financial risks, and for other purposes, e.g. expected future expenses 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 |
| --- | --- |

(a)

For financial risks, and for other purposes, e.g. expected future expenses 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

| (a) | Cost/nominal value |
| --- | --- |

(a)

Cost/nominal value

| (b) | For counterparty or credit risks arising from monetary policy operations |
| --- | --- |

(b)

For counterparty or credit risks arising from monetary policy operations

| (b) | Nominal value (based on a valuation at year-end by the Governing Council) |
| --- | --- |

(b)

Nominal value (based on a valuation at year-end by the Governing Council)

14

Revaluation accounts

| (a) | 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.
  Special revaluation accounts stemming from 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. See Article 14(2) |
| --- | --- |

(a)

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.

Special revaluation accounts stemming from 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. See Article 14(2)

| (a) | Revaluation difference between average cost and market value, foreign exchange translated at market rate |
| --- | --- |

(a)

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

| (b) | Remeasurement results of the net defined benefit liability (asset) in respect of post-employment benefits, which are the net position of the following sub-items:






  (i) | Actuarial gains and losses in the present value of the defined benefit obligation |
| --- | --- | --- |

(b)

Remeasurement results of the net defined benefit liability (asset) in respect of post-employment benefits, which are the net position of the following sub-items:

(i)

Actuarial gains and losses in the present value of the defined benefit obligation

| (ii) | Return on plan assets, excluding amounts included in net interest on the net defined benefit liability (asset) |
| --- | --- |

(ii)

Return on plan assets, excluding amounts included in net interest on the net defined benefit liability (asset)

| (iii) | Any change in the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability (asset) |
| --- | --- |

(iii)

Any change in the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability (asset)

| (b) | As per Article 25(2) |
| --- | --- |

(b)

As per Article 25(2)

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

---

(1)  With the exception of asset item 7.1, the allocation of balances to those balance sheet items that refer to residency and/or economic sector is based on the classification for statistical purposes.

1

(2)  Guideline (EU) 2015/510 of the European Central Bank of 19 December 2014 on the implementation of the Eurosystem monetary policy framework (ECB/2014/60) (OJ L 91, 2.4.2015, p. 3).

2

(3)  Decision ECB/2010/29 of the European Central Bank of 13 December 2010 on the issue of euro banknotes (OJ L 35, 9.2.2011, p. 26)

3

(4)  The allocation of balances to those balance sheet items that refer to residency and/or economic sector is based on the classification for statistical purposes.

4

---

GUIDELINES

| 24.11.2021 | EN | Official Journal of the European Union | L 419/14 |
| --- | --- | --- | --- |

24.11.2021

EN

Official Journal of the European Union

L 419/14

---

GUIDELINE (EU) 2021/2041 OF THE EUROPEAN CENTRAL BANK

of 11 November 2021

amending Guideline (EU) 2016/2249 on the legal framework for accounting and financial reporting in the European System of Central Banks (ECB/2021/51)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Articles 12.1, 14.3 and 26.4 thereof,

Having regard to the contribution of the General Council of the European Central Bank (ECB) pursuant to the second and third indents of Article 46.2 of the Statute of the European System of Central Banks and of the European Central Bank,

Whereas:

| (1) | Guideline (EU) 2016/2249 of the European Central Bank (ECB/2016/34) (1) lays down the rules for standardising the accounting and financial reporting of operations undertaken by the national central banks of Member States whose currency is the euro. |
| --- | --- |

(1)

Guideline (EU) 2016/2249 of the European Central Bank (ECB/2016/34) (1) lays down the rules for standardising the accounting and financial reporting of operations undertaken by the national central banks of Member States whose currency is the euro.

| (2) | It is necessary to clarify with regard to the economic and cash/settlement approaches that the indexation amount payable at maturity should be part of the carrying amount of index-linked bonds at quarter end. |
| --- | --- |

(2)

It is necessary to clarify with regard to the economic and cash/settlement approaches that the indexation amount payable at maturity should be part of the carrying amount of index-linked bonds at quarter end.

| (3) | Additional technical amendments to Annex IV are required for the purpose of: (a) ensuring consistency across the Eurosystem with regard to the financial reporting of balances with, and securities issued by, international organisations; (b) allowing for the classification of defaulted securities as part of sundry items on the asset side of the balance sheet; and (c) clarifying the classification of funds and accounts of credit and financial institutions on the liability side of the balance sheet. |
| --- | --- |

(3)

Additional technical amendments to Annex IV are required for the purpose of: (a) ensuring consistency across the Eurosystem with regard to the financial reporting of balances with, and securities issued by, international organisations; (b) allowing for the classification of defaulted securities as part of sundry items on the asset side of the balance sheet; and (c) clarifying the classification of funds and accounts of credit and financial institutions on the liability side of the balance sheet.

| (4) | Therefore, Guideline (EU) 2016/2249 (ECB/2016/34) should be amended accordingly, |
| --- | --- |

(4)

Therefore, Guideline (EU) 2016/2249 (ECB/2016/34) should be amended accordingly,

HAS ADOPTED THIS GUIDELINE:

Article 1

Amendments

Guideline (EU) 2016/2249 (ECB/2016/34) is amended as follows:

| (1) | in Article 5, paragraph 4 is replaced by the following:

  ‘4.   With the exception of quarter-end and year-end accounting adjustments and of items disclosed under “Other assets” and “Other liabilities”, amounts presented as part of the daily financial reporting for Eurosystem financial reporting purposes shall only show cash movements in balance sheet items. At quarter-end and year-end, the amortisation and any indexation amount payable at maturity as part of the principal amount of index-linked bonds, shall also be included in the carrying value of securities.’; |
| --- | --- |

(1)

in Article 5, paragraph 4 is replaced by the following:

‘4.   With the exception of quarter-end and year-end accounting adjustments and of items disclosed under “Other assets” and “Other liabilities”, amounts presented as part of the daily financial reporting for Eurosystem financial reporting purposes shall only show cash movements in balance sheet items. At quarter-end and year-end, the amortisation and any indexation amount payable at maturity as part of the principal amount of index-linked bonds, shall also be included in the carrying value of securities.’;

| (2) | Annex IV is replaced by the Annex to this Guideline. |
| --- | --- |

(2)

Annex IV is replaced by the Annex to this Guideline.

Article 2

Taking effect and implementation

1.   This Guideline shall take effect on the day of its notification to the national central banks of the Member States whose currency is the euro.

2.   The national central banks of the Member States whose currency is the euro shall comply with this Guideline from 31 December 2021.

Article 3

Addressees

This Guideline is addressed to all Eurosystem central banks.

Done at Frankfurt am Main, 11 November 2021.

For the Governing Council of the ECB

The President of the ECB

Christine LAGARDE

---

(1)  Guideline (EU) 2016/2249 of the European Central Bank of 3 November 2016 on the legal framework for accounting and financial reporting in the European System of Central Banks (ECB/2016/34) (OJ L 347, 20.12.2016, p. 37
  ).

1

).

---

ANNEX

Annex IV to Guideline (EU) 2016/2249 (ECB/2016/34) is replaced by the following:

‘ANNEX IV

COMPOSITION AND VALUATION RULES FOR THE BALANCE SHEET
   (1)

ASSETS

| Balance sheet item (2)
   (6) | 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 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” |

Balance sheet item (2)
   (6)

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 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, translated at the foreign exchange market rate |
| --- | --- |

(a)

Drawing rights within the reserve tranche (net)

Nominal value, translated at the foreign exchange market rate

Mandatory

| (b) | Special Drawing Rights (SDRs)

  Holdings of SDRs (gross) |
| --- | --- |

(b)

Special Drawing Rights (SDRs)

Holdings of SDRs (gross)

| (b) | SDRs

  Nominal value, translated at the foreign exchange market rate |
| --- | --- |

(b)

SDRs

Nominal value, translated 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

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

| (c) | Other claims

  Nominal value, translated at the foreign exchange market rate |
| --- | --- |

(c)

Other claims

Nominal value, translated 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 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, translated at the foreign exchange market rate |
| --- | --- |

(a)

Balances with banks outside the euro area

Nominal value, translated 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 shares, investment funds held as part of the foreign reserves, all issued by non-euro area residents |
| --- | --- |

(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 shares, investment funds held as part of the foreign reserves, all issued by non-euro area residents

| (b) | |
| --- | --- |

(b)

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

  Market price and foreign exchange market rate. Any premiums or discounts are amortised |
| --- | --- |

(i)

Marketable debt securities other than held-to-maturity

Market price and foreign exchange market rate. Any premiums or discounts are amortised

Mandatory

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

  Cost subject to impairment and foreign exchange market rate. Any premiums or discounts are amortised |
| --- | --- |

(ii)

Marketable debt 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 debt securities

  Cost subject to impairment and foreign exchange market rate. Any premiums or discounts are amortised |
| --- | --- |

(iii)

Non-marketable debt securities

Cost subject to impairment and foreign exchange market rate. Any premiums or discounts are amortised

Mandatory

| (iv) | Marketable equity shares

  Market price and foreign exchange market rate |
| --- | --- |

(iv)

Marketable equity shares

Market price and foreign exchange market rate

Mandatory

| (v) | Marketable investment funds

  Market price and foreign exchange market rate |
| --- | --- |

(v)

Marketable investment funds

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) 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 |
| --- | --- |

(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

Non-euro area banknotes and coins

| (d) | Other external assets

  Nominal value, translated at the foreign exchange market rate |
| --- | --- |

(d)

Other external assets

Nominal value, translated 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 shares, investment funds held as part of the foreign reserves, all issued by euro area residents |
| --- | --- |

(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 shares, investment funds held as part of the foreign reserves, all issued by euro area residents

| (a) | |
| --- | --- |

(a)

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

  Market price and foreign exchange market rate. Any premiums or discounts are amortised |
| --- | --- |

(i)

Marketable debt securities other than held-to-maturity

Market price and foreign exchange market rate. Any premiums or discounts are amortised

Mandatory

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

  Cost subject to impairment and foreign exchange market rate. Any premiums or discounts are amortised |
| --- | --- |

(ii)

Marketable debt 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 debt securities

  Cost subject to impairment and foreign exchange market rate. Any premiums or discounts are amortised |
| --- | --- |

(iii)

Non-marketable debt securities

Cost subject to impairment and foreign exchange market rate. Any premiums or discounts are amortised

Mandatory

| (iv) | Marketable equity shares

  Market price and foreign exchange market rate |
| --- | --- |

(iv)

Marketable equity shares

Market price and foreign exchange market rate

Mandatory

| (v) | Marketable investment funds

  Market price and foreign exchange market rate |
| --- | --- |

(v)

Marketable investment funds

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 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 |
| --- | --- |

(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 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 |
| --- | --- |

(a)

Balances with banks outside the euro area

Nominal value

Mandatory

| (b) | Securities issued by entities outside the euro area other than those under asset item 11.3 “Other financial assets” or asset item 7.1 “Securities held for monetary policy purposes”

  Equity shares, investment funds, notes and bonds, bills, zero bonds, money market paper, all issued by non-euro area residents |
| --- | --- |

(b)

Securities issued by entities outside the euro area other than those under asset item 11.3 “Other financial assets” or asset item 7.1 “Securities held for monetary policy purposes”

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

| (b) | |
| --- | --- |

(b)

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

  Market price. Any premiums or discounts are amortised |
| --- | --- |

(i)

Marketable debt securities other than held-to-maturity

Market price. Any premiums or discounts are amortised

Mandatory

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

  Cost subject to impairment. Any premiums or discounts are amortised |
| --- | --- |

(ii)

Marketable debt securities classified as held-to-maturity

Cost subject to impairment. Any premiums or discounts are amortised

Mandatory

| (iii) | Non-marketable debt securities

  Cost subject to impairment. Any premiums or discounts are amortised |
| --- | --- |

(iii)

Non-marketable debt securities

Cost subject to impairment. Any premiums or discounts are amortised

Mandatory

| (iv) | Marketable equity shares

  Market price |
| --- | --- |

(iv)

Marketable equity shares

Market price

Mandatory

| (v) | Marketable investment funds

  Market price |
| --- | --- |

(v)

Marketable investment funds

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 other than those under asset item 11.3 “Other financial assets”

| (c) | Loans outside the euro area

  Deposits at nominal value |
| --- | --- |

(c)

Loans outside the euro area

Deposits at nominal value

Mandatory

4.2

4.2

Claims arising from the credit facility under Exchange Rate Mechanism (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 Guideline (EU) 2015/510 of the European Central Bank (ECB/2014/60) (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 normally with a monthly frequency, with a maturity longer than that of the main refinancing operations

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 in the form of collateralised loans. 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 held for monetary policy purposes (including securities purchased for monetary policy purposes that are 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

| (a) | Marketable debt securities

  Accounted for depending on monetary policy considerations:






  (i) | Market price
  Any premiums or discounts are amortised |
| --- | --- | --- |

(a)

Marketable debt securities

Accounted for depending on monetary policy considerations:

(i)

Market price

Any premiums or discounts are amortised

| (ii) | 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 |
| --- | --- |

(ii)

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

| (b) | Non-marketable debt securities

  Cost subject to impairment. Any premiums or discounts are amortised |
| --- | --- |

(b)

Non-marketable debt 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 economic and monetary union (EMU), denominated in euro. Equity shares and investment funds

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

  Market price. Any premiums or discounts are amortised |
| --- | --- |

(a)

Marketable debt securities other than held-to-maturity

Market price. Any premiums or discounts are amortised

Mandatory

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

  Cost subject to impairment. Any premiums or discounts are amortised |
| --- | --- |

(b)

Marketable debt securities classified as held-to-maturity

Cost subject to impairment. Any premiums or discounts are amortised

Mandatory

| (c) | Non-marketable debt securities

  Cost subject to impairment. Any premiums or discounts are amortised |
| --- | --- |

(c)

Non-marketable debt securities

Cost subject to impairment. Any premiums or discounts are amortised

Mandatory

| (d) | Marketable equity shares

  Market price |
| --- | --- |

(d)

Marketable equity shares

Market price

Mandatory

| (e) | Marketable investment funds

  Market price |
| --- | --- |

(e)

Marketable investment funds

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 (EU) 2016/2248 of the European Central Bank (ECB/2016/36) (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:

| (a) | net claims arising from balances of TARGET2 accounts and correspondent accounts of NCBs, i.e. the net figure of claims and liabilities – see also liability item 10.4 “Other liabilities within the Eurosystem (net)” |
| --- | --- |

(a)

net claims arising from balances of TARGET2 accounts and correspondent accounts of NCBs, i.e. the net figure of claims and liabilities – see also liability item 10.4 “Other liabilities within the Eurosystem (net)”

| (a) | Nominal value |
| --- | --- |

(a)

Nominal value

Mandatory

| (b) | claim due to the difference between monetary income to be pooled and redistributed. Only relevant for the period between booking of monetary income as part of the year-end procedures, and its settlement on the last working day in January each year |
| --- | --- |

(b)

claim due to the difference between monetary income to be pooled and redistributed. Only relevant for the period between booking of monetary income as part of the year-end procedures, and its settlement on the last working day in January each year

| (b) | Nominal value |
| --- | --- |

(b)

Nominal value

Mandatory

| (c) | other intra-Eurosystem claims denominated in euro that may arise, including the interim distribution of ECB income (*1) |
| --- | --- |

(c)

other intra-Eurosystem claims denominated in euro that may arise, including the interim distribution of ECB income (*1)

| (c) | Nominal value |
| --- | --- |

(c)

Nominal value

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

Recommended

Depreciation rates:

| — | computers and related hardware/software and motor vehicles: 4 years |
| --- | --- |

—

computers and related hardware/software and motor vehicles: 4 years

| — | equipment, furniture and plant in building: 10 years |
| --- | --- |

—

equipment, furniture and plant in building: 10 years

| — | building and capitalised major refurbishment expenditure: 25 years |
| --- | --- |

—

building and capitalised major refurbishment expenditure: 25 years

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

9

11.3

Other financial assets

| — | Participating interests and investments in subsidiaries; equity shares and investment funds held for strategic/policy reasons |
| --- | --- |

—

Participating interests and investments in subsidiaries; equity shares and investment funds held for strategic/policy reasons

| — | Securities, including equity shares and investment funds, and other financial instruments and balances, e.g. fixed-term deposits and current accounts, held as an earmarked portfolio |
| --- | --- |

—

Securities, including equity shares and investment funds, and other financial instruments and balances, e.g. fixed-term deposits and current accounts, held as an earmarked portfolio

| — | Reverse repo transactions with financial institutions in connection with the management of securities portfolios under this asset item |
| --- | --- |

—

Reverse repo transactions with financial institutions in connection with the management of securities portfolios under this asset item

| — | Euro denominated reverse repo transactions with euro area financial institutions other than credit institutions in connection with the management of securities portfolios other than those held under this item |
| --- | --- |

—

Euro denominated reverse repo transactions with euro area financial institutions other than credit institutions in connection with the management of securities portfolios other than those held under this item

| (a) | Marketable equity shares

  Market price |
| --- | --- |

(a)

Marketable equity shares

Market price

Recommended

| (b) | Marketable investment funds

  Market price |
| --- | --- |

(b)

Marketable investment funds

Market price

Recommended

| (c) | Participating interests and non-marketable equity shares, and any other equity instruments held as permanent investments

  Cost subject to impairment |
| --- | --- |

(c)

Participating interests and non-marketable equity shares, and any other equity instruments held as permanent investments

Cost subject to impairment

Recommended

| (d) | Investment in subsidiaries or significant interests

  Net asset value |
| --- | --- |

(d)

Investment in subsidiaries or significant interests

Net asset value

Recommended

| (e) | Marketable debt securities other than held-to-maturity

  Market price. Any premiums or discounts are amortised |
| --- | --- |

(e)

Marketable debt securities other than held-to-maturity

Market price. Any premiums or discounts are amortised

Recommended

| (f) | Marketable debt securities classified as held-to-maturity or held as a permanent investment

  Cost subject to impairment. Any premiums or discounts are amortised |
| --- | --- |

(f)

Marketable debt securities classified as held-to-maturity or held as a permanent investment

Cost subject to impairment. Any premiums or discounts are amortised

Recommended

| (g) | Non-marketable debt securities

  Cost subject to impairment. Any premiums or discounts are amortised |
| --- | --- |

(g)

Non-marketable debt securities

Cost subject to impairment. Any premiums or discounts are amortised

Recommended

| (h) | Balances with banks and loans

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

(h)

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 (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

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

| (a) | Advances, loans and other minor items. Loans on a trust basis. Coins denominated in national euro area currency units. Current expense (net accumulated loss), loss of the previous year before coverage |
| --- | --- |

(a)

Advances, loans and other minor items. Loans on a trust basis. Coins denominated in national euro area currency units. Current expense (net accumulated loss), loss of the previous year before coverage

| (a) | Nominal value or cost |
| --- | --- |

(a)

Nominal value or cost

Recommended

| (b) | Revaluation suspense accounts (only a balance sheet item during the year: unrealised losses at revaluation dates during the year, which are not covered by the relevant revaluation accounts under the liability item “Revaluation accounts”) |
| --- | --- |

(b)

Revaluation suspense accounts (only a balance sheet item during the year: unrealised losses at revaluation dates during the year, which are not covered by the relevant revaluation accounts under the liability item “Revaluation accounts”)

| (b) | Revaluation difference between average cost and market value, foreign exchange translated at market rate |
| --- | --- |

(b)

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

Mandatory

| (c) | Investments related to customer gold deposits |
| --- | --- |

(c)

Investments related to customer gold deposits

| (c) | Market value |
| --- | --- |

(c)

Market value

Mandatory

| (d) | Net pension assets |
| --- | --- |

(d)

Net pension assets

| (d) | As per Article 28(2) |
| --- | --- |

(d)

As per Article 28(2)

Recommended

| (e) | Outstanding claims and securities arising from the default of eligible counterparties or issuers in the context of Eurosystem monetary policy operations |
| --- | --- |

(e)

Outstanding claims and securities arising from the default of eligible counterparties or issuers in the context of Eurosystem monetary policy operations

| (e) | Nominal/recoverable value (before/after settlement of losses) |
| --- | --- |

(e)

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

Mandatory

| (f) | 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 |
| --- | --- |

(f)

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

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

(f)

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

LIABILITIES

| Balance sheet item (7)
   (9) | Categorisation of contents of balance sheet items | Valuation principle | Scope of application (8) |
| --- | --- | --- | --- |
| 1 | 1 | Banknotes in circulation
   (*2) | (a) | Euro banknotes, plus/minus adjustments relating to the application of the banknote allocation key in accordance with Decision (EU) 2016/2248 (ECB/2016/36) and Decision ECB/2010/29 |

Balance sheet item (7)
   (9)

Categorisation of contents of balance sheet items

Valuation principle

Scope of application (8)

1

1

Banknotes in circulation
   (*2)

(a)

Euro banknotes, plus/minus adjustments relating to the application of the banknote allocation key in accordance with Decision (EU) 2016/2248 (ECB/2016/36) and Decision ECB/2010/29

| (a) | Nominal value |
| --- | --- |

(a)

Nominal value

Mandatory

| (b) | Banknotes denominated in national euro area currency units during the cash changeover year |
| --- | --- |

(b)

Banknotes denominated in national euro area currency units during the cash changeover year

| (b) | Nominal value |
| --- | --- |

(b)

Nominal value

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

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, except for credit institutions exempt from minimum reserve requirements. This item contains primarily accounts used in order to hold minimum reserves and excludes funds of credit institutions that are not freely disposable

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 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. Funds of credit institutions that are not freely disposable, and accounts of credit institutions exempt from minimum reserve requirements. 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 Guideline (EU) 2015/510 (ECB/2014/60). 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 not subject to minimum reserve requirements (see liability item 2.1 “Current accounts”); 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

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. 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, translated 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, translated 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, translated 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, translated 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 (EU) 2016/2248 (ECB/2016/36)

Nominal value

Mandatory

-

10.4

Other liabilities within the Eurosystem (net)(+)

Net position of the following sub-items:

| (a) | net liabilities arising from balances of TARGET2 accounts and correspondent accounts of NCBs, i.e. the net figure of claims and liabilities - see also asset item 9.5 “Other claims within the Eurosystem (net)” |
| --- | --- |

(a)

net liabilities arising from balances of TARGET2 accounts and correspondent accounts of NCBs, i.e. the net figure of claims and liabilities - see also asset item 9.5 “Other claims within the Eurosystem (net)”

| (a) | Nominal value |
| --- | --- |

(a)

Nominal value

Mandatory

| (b) | liability due to the difference between monetary income to be pooled and redistributed. Only relevant for the period between booking of monetary income as part of the year-end procedures, and its settlement at the last working day in January each year |
| --- | --- |

(b)

liability due to the difference between monetary income to be pooled and redistributed. Only relevant for the period between booking of monetary income as part of the year-end procedures, and its settlement at the last working day in January each year

| (b) | Nominal value |
| --- | --- |

(b)

Nominal value

Mandatory

| (c) | other intra-Eurosystem liabilities denominated in euro that may arise, including the interim distribution of ECB income (*2) |
| --- | --- |

(c)

other intra-Eurosystem liabilities denominated in euro that may arise, including the interim distribution of ECB income (*2)

| (c) | Nominal value |
| --- | --- |

(c)

Nominal value

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 (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

Mandatory

10

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

Mandatory

10

12.3

Sundry

| (a) | Taxation suspense accounts. Foreign currency credit or guarantee cover accounts. Repo transactions with financial institutions 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. Coins in circulation if 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 the liability item “Provisions” |
| --- | --- |

(a)

Taxation suspense accounts. Foreign currency credit or guarantee cover accounts. Repo transactions with financial institutions 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. Coins in circulation if 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 the liability item “Provisions”

| (a) | Nominal value or (repo) cost |
| --- | --- |

(a)

Nominal value or (repo) cost

Recommended

| (b) | Customer gold deposits |
| --- | --- |

(b)

Customer gold deposits

| (b) | Market value |
| --- | --- |

(b)

Market value

Mandatory

| (c) | Net pension liabilities |
| --- | --- |

(c)

Net pension liabilities

| (c) | As per Article 28(2) |
| --- | --- |

(c)

As per Article 28(2)

Recommended

10

13

Provisions

| (a) | For pensions, for financial risks, and for other purposes, e.g. expected future expenses, provisions for national euro area currency units that have ceased to be legal tender but are still in circulation after the cash changeover year if these banknotes are not shown under liability item 12.3 “Other liabilities/sundry”
  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”(+) |
| --- | --- |

(a)

For pensions, for financial risks, and for other purposes, e.g. expected future expenses, provisions for national euro area currency units that have ceased to be legal tender but are still in circulation after the cash changeover year if these banknotes are not shown under liability item 12.3 “Other liabilities/sundry”

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”(+)

| (a) | Cost/nominal/discounted value |
| --- | --- |

(a)

Cost/nominal/discounted value

Recommended

| (b) | For counterparty or credit risks arising from monetary policy operations |
| --- | --- |

(b)

For counterparty or credit risks arising from monetary policy operations

| (b) | Nominal value |
| --- | --- |

(b)

Nominal value

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

---

(*1)  Items to be harmonised.

*1

(1)  Disclosure relating to euro banknotes in circulation, remuneration of net intra-Eurosystem claims/liabilities resulting from the allocation of euro banknotes within the Eurosystem, and monetary income should be harmonised in NCBs’ published annual financial statements. The items to be harmonised are indicated with an asterisk in Annexes IV, VIII and IX.

1

(2)  The numbering in the first column relates to the balance sheet formats given in Annexes V, VI and VII (weekly financial statements and consolidated annual balance sheet of the Eurosystem). The numbering in the second column relates to the balance sheet format given in Annex VIII (annual balance sheet of a central bank). The items marked with a ‘(+)’ are consolidated in the Eurosystem’s weekly financial statements.

2

(3)  The composition and valuation rules listed in this Annex are considered mandatory for the ECB’s accounts and for all material assets and liabilities in NCBs’ accounts for Eurosystem purposes, i.e. material to the Eurosystem’s operation.

3

(4)  Guideline (EU) 2015/510 of the European Central Bank of 19 December 2014 on the implementation of the Eurosystem monetary policy framework (ECB/2014/60) (OJ L 91, 2.4.2015, p. 3).

4

(5)  Decision (EU) 2016/2248 of the European Central Bank of 3 November 2016 on the allocation of monetary income of the national central banks of Member States whose currency is the euro (ECB/2016/36) (OJ L 347, 20.12.2016, p. 26).

5

(6)  With the exception of asset item 7.1, the allocation of balances to those balance sheet items that refer to residency and/or economic sector is based on the classification for statistical purposes.

6

(*2)  Items to be harmonised. See recital 5.

*2

(7)  The numbering in the first column relates to the balance sheet formats given in Annexes V, VI and VII (weekly financial statements and consolidated annual balance sheet of the Eurosystem). The numbering in the second column relates to the balance sheet format given in Annex VIII (annual balance sheet of a central bank). The items marked with a ‘(+)’ are consolidated in the Eurosystem’s weekly financial statements.

7

(8)  The composition and valuation rules listed in this Annex are considered mandatory for the ECB’s accounts and for all material assets and liabilities in NCBs’ accounts for Eurosystem purposes, i.e. material to the Eurosystem’s operation.

8

(9)  The allocation of balances to those balance sheet items that refer to residency and/or economic sector is based on the classification for statistical purposes.

9

---

ACTS ADOPTED BY BODIES CREATED BY INTERNATIONAL AGREEMENTS

| 24.11.2021 | EN | Official Journal of the European Union | L 419/34 |
| --- | --- | --- | --- |

24.11.2021

EN

Official Journal of the European Union

L 419/34

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DECISION No 2/2021 OF THE JOINT COMMITTEE ESTABLISHED BY THE COMMON AVIATION AREA AGREEMENT BETWEEN THE EUROPEAN UNION AND ITS MEMBER STATES AND THE REPUBLIC OF MOLDOVA

of 2 June 2021

replacing Annex III to the Common Aviation Area Agreement between the European Union and its Member States and the Republic of Moldova [2021/2042]

THE JOINT COMMITTEE,

Having regard to the Common Aviation Area Agreement between the European Union and its Member States and the Republic of Moldova, and in particular Article 26(7) thereof,

HAS DECIDED AS FOLLOWS:

Sole Article

Annex III to the Common Aviation Area Agreement between the European Union and its Member States and the Republic of Moldova is replaced by the text in the Annex to this Decision as from the date of adoption of this Decision.

Done at Brussels and Chisinau, via correspondence,

For the Joint Committee,

The Head of the European Union Delegation

Klaus GEIL

Date: 2 June 2021

The Head of the Republic of Moldova Delegation

Andrei SPINU

Date: 25 October 2021

---

ANNEX

‘ANNEX III

(Subject to regular update)

RULES APPLICABLE TO CIVIL AVIATION

The “applicable provisions” of the following acts shall be applicable in accordance with this Agreement unless otherwise specified in Annex II to this Agreement (Transitional provisions). Where necessary, specific adaptations for each individual act are set out hereafter:

A.   Market access and ancillary issues

Regulation (EC) No 1008/2008 of the European Parliament and of the Council of 24 September 2008 on common rules for the operation of air services in the Community (recast) (OJ L 293, 31.10.2008, p. 3), as amended by:

Regulation (EU) 2018/1139 of the European Parliament and of the Council of 4 July 2018 (OJ L 212, 22.8.2018, p. 1).

Applicable provisions: Article 2, Article 23(1), Article 24, Annex I, Chapter II in accordance with paragraph 6 of Annex II to the Agreement.

Council Regulation (EEC) No 95/93 of 18 January 1993 on common rules for the allocation of slots at Community airports (OJ L 14, 22.1.1993, p. 1), as amended by:

Regulation (EC) No 894/2002 of the European Parliament and of the Council of 27 May 2002 (OJ L 142, 31.5.2002, p. 3),

Regulation (EC) No 1554/2003 of the European Parliament and of the Council of 22 July 2003 (OJ L 221, 4.9.2003, p. 1),

Regulation (EC) No 793/2004 of the European Parliament and of the Council of 21 April 2004 (OJ L 138, 30.4.2004, p. 50),

Regulation (EC) No 545/2009 of the European Parliament and of the Council of 18 June 2009 (OJ L 167, 29.6.2009, p. 24),

Regulation (EU) 2020/459 of the European Parliament and of the Council of 30 March 2020 (OJ L 99, 31.3.2020, p. 1).

Applicable provisions: Articles 1 to 12, 14, 14a(2); as regards the application of Article 12(2), the term “the Commission” shall read “the Joint Committee”.

Council Directive 96/67/EC of 15 October 1996 on access to the ground-handling market at Community airports (OJ L 272, 25.10.1996, p. 36).

Applicable provisions: Articles 1 to 9, 11 to 21, Annex; as regards the application of Article 20(2), the term “the Commission” shall read “the Joint Committee”.

Regulation (EC) No 785/2004 of the European Parliament and of the Council of 21 April 2004 on insurance requirements for air carriers and aircraft operators (OJ L 138, 30.4.2004, p. 1), as amended by:

Commission Regulation (EU) No 285/2010 of 6 April 2010 (OJ L 87, 7.4.2010, p. 19),

Commission Delegated Regulation (EU) 2020/1118 of 27 April 2020 (OJ L 243, 29.7.2020, p. 1).

Applicable provisions: Articles 1 to 8.

Directive 2009/12/EC of the European Parliament and of the Council of 11 March 2009 on airport charges (OJ L 70, 14.3.2009, p. 11).

Applicable provisions: Articles 1 to 11.

B.   Air traffic management

Regulation (EC) No 549/2004 of the European Parliament and of the Council of 10 March 2004 laying down the framework for the creation of the Single European Sky (the Framework Regulation) (OJ L 96, 31.3.2004, p. 1), as amended by:

Regulation (EC) No 1070/2009 of the European Parliament and of the Council of 21 October 2009 (OJ L 300, 14.11.2009, p. 34). Applicable provisions: Article 1, with the exception of Article 1(4).

Applicable provisions: Articles 1 to 4, 6, 9 to 13.

Regulation (EC) No 550/2004 of the European Parliament and of the Council of 10 March 2004 on the provision of air navigation services in the Single European Sky (the Service Provision Regulation) (OJ L 96, 31.3.2004, p. 10), as amended by:

Regulation (EC) No 1070/2009 of the European Parliament and of the Council of 21 October 2009 (OJ L 300, 14.11.2009, p. 34). Applicable provisions: Article 2.

Applicable provisions: Articles 1 to 18, Annex I.

Regulation (EC) No 551/2004 of the European Parliament and of the Council of 10 March 2004 on the organisation and use of the airspace in the Single European Sky (the Airspace Regulation) (OJ L 96, 31.3.2004, p. 20), as amended by:

Regulation (EC) No 1070/2009 of the European Parliament and of the Council of 21 October 2009 (OJ L 300, 14.11.2009, p. 34). Applicable provisions: Article 3.

Applicable provisions: Articles 1 to 9.

Regulation (EC) No 552/2004 of the European Parliament and of the Council of 10 March 2004 on the interoperability of the European Air Traffic Management network (the Interoperability Regulation) (OJ L 96, 31.3.2004, p. 26), as amended by:

Regulation (EC) No 1070/2009 of the European Parliament and of the Council of 21 October 2009 (OJ L 300, 14.11.2009, p. 34). Applicable provisions: Article 4.

Applicable provisions: Articles 1 to 10, Annexes I to V.

Performance and charging

Commission Implementing Regulation (EU) 2019/317 of 11 February 2019 laying down a performance and charging scheme in the single European sky and repealing Implementing Regulations (EU) No 390/2013 and (EU) No 391/2013 (OJ L 56, 25.2.2019, p. 1).

Applicable provisions: scope and application to be discussed.

Network functions

Commission Implementing Regulation (EU) 2019/123 of 24 January 2019 laying down detailed rules for the implementation of air traffic management (ATM) network functions and repealing Commission Regulation (EU) No 677/2011 (OJ L 28, 31.1.2019, p. 1).

Commission Regulation (EU) No 255/2010 of 25 March 2010 laying down common rules on air traffic flow management (OJ L 80, 26.3.2010, p. 10), as amended by:

Commission Implementing Regulation (EU) No 923/2012 of 26 September 2012 (OJ L 281, 13.10.2012, p. 1),

Commission Implementing Regulation (EU) 2016/1006 of 22 June 2016 (OJ L 165, 23.6.2016, p. 8),

Commission Implementing Regulation (EU) 2017/2159 of 20 November 2017 (OJ L 304, 21.11.2017, p. 45).

Applicable provisions: Articles 1 to 15, Annexes.

Interoperability

Commission Regulation (EC) No 1032/2006 of 6 July 2006 laying down requirements for automatic systems for the exchange of flight data for the purpose of notification, coordination and transfer of flights between air traffic control units (OJ L 186, 7.7.2006, p. 27), as amended by:

Commission Regulation (EC) No 30/2009 of 16 January 2009 (OJ L 13, 17.1.2009, p. 20).

Applicable provisions: Articles 1 to 9, Annexes I to V.

Commission Regulation (EC) No 1033/2006 of 4 July 2006 laying down the requirements on procedures for flight plans in the pre-flight phase for the Single European Sky (OJ L 186, 7.7.2006, p. 46), as amended by:

Commission Regulation (EU) No 929/2010 of 18 October 2010 (OJ L 273, 19.10.2010, p. 4),

Commission Implementing Regulation (EU) No 923/2012 of 26 September 2012 (OJ L 281, 13.10.2012, p. 1),

Commission Implementing Regulation (EU) No 428/2013 of 8 May 2013 (OJ L 127, 9.5.2013, p. 23),

Commission Implementing Regulation (EU) 2016/2120 of 2 December 2016 (OJ L 329, 3.12.2016, p. 70),

Commission Implementing Regulation (EU) 2018/139 of 29 January 2018 (OJ L 25, 30.1.2018, p. 4).

Applicable provisions: Articles 1 to 5, Annex.

Commission Regulation (EC) No 633/2007 of 7 June 2007 laying down requirements for the application of a flight message transfer protocol used for the purpose of notification, coordination and transfer of flights between air traffic control units (OJ L 146, 8.6.2007, p. 7), as amended by:

Commission Regulation (EU) No 283/2011 of 22 March 2011 (OJ L 77, 23.3.2011, p. 23).

Applicable provisions: Articles 1 to 6, Annexes I to IV.

Commission Regulation (EC) No 29/2009 of 16 January 2009 laying down requirements on data link services for the Single European Sky (OJ L 13, 17.1.2009, p. 3), as amended by:

Commission Implementing Regulation (EU) 2015/310 of 26 February 2015 (OJ L 56, 27.2.2015, p. 30),

Commission Implementing Regulation (EU) 2019/1170 of 8 July 2019 (OJ L 183 9.7.2019, p. 6),

Commission Implementing Decision (EU) 2019/2012 of 29 November 2019 (OJ L 312, 3.12.2019, p. 95).

Commission Implementing Regulation (EU) 2020/208 of 14 February 2020 (OJ L 43, 17.2.2020, p. 72).

Applicable provisions: Articles 1 to 14, Annexes I to III.

Commission Regulation (EC) No 262/2009 of 30 March 2009 laying down requirements for the coordinated allocation and use of Mode S interrogator codes for the Single European Sky (OJ L 84, 31.3.2009, p. 20), as amended by:

Commission Implementing Regulation (EU) 2016/2345 of 14 December 2016 (OJ L 348, 21.12.2016, p. 11).

Applicable provisions: Articles 1 to 12, Annexes I to VI.

Commission Regulation (EU) No 73/2010 of 26 January 2010 laying down requirements on the quality of aeronautical data and aeronautical information for the Single European Sky (OJ L 23, 27.1.2010, p. 6), as amended by:

Commission Implementing Regulation (EU) No 1029/2014 of 26 September 2014 (OJ L 284, 30.9.2014, p. 9),

and repealed with effect from 27 January 2022 by Commission Implementing Regulation (EU) 2020/469.

Applicable provisions: Articles 1 to 13, Annexes I to X.

Commission Implementing Regulation (EU) No 1206/2011 of 22 November 2011 laying down requirements on aircraft identification for surveillance for the single European sky (OJ L 305, 23.11.2011, p. 23), as amended by:

Commission Implementing Regulation (EU) 2020/587 of 29 April 2020, OJ L 138, 30.4.2020, p. 1).

Applicable provisions: Articles 1 to 11, Annexes I to VII.

Commission Implementing Regulation (EU) No 1207/2011 of 22 November 2011 laying down requirements for the performance and the interoperability of surveillance for the single European sky (OJ L 305, 23.11.2011, p. 35), as amended by:

Commission Implementing Regulation (EU) No 1028/2014 of 26 September 2014 (OJ L 284, 30.9.2014, p. 7),

Commission Implementing Regulation (EU) 2017/386 of 6 March 2017 (OJ L 59, 7.3.2017, p. 34),

Commission Implementing Regulation (EU) 2020/587 of 29 April 2020 (OJ L 138, 30.4.2020, p. 1).

Applicable provisions: Articles 1 to 14, Annexes I to IX.

Commission Implementing Regulation (EU) No 1079/2012 of 16 November 2012 laying down requirements for voice channels spacing for the single European sky (OJ L 320, 17.11.2012, p. 14), as amended by:

Commission Implementing Regulation (EU) No 657/2013 of 10 July 2013 (OJ L 190, 11.7.2013, p. 37),

Commission Implementing Regulation (EU) 2016/2345 of 14 December 2016 (OJ L 348, 21.12.2016, p. 11),

Commission Implementing Regulation (EU) 2017/2160 of 20 November 2017 (OJ L 304, 21.11.2017, p. 47).

Applicable provisions: Articles 1 to 14, Annexes I to V.

SESAR

Council Regulation (EC) No 219/2007 of 27 February 2007 on the establishment of a Joint Undertaking to develop the new generation European air traffic management system (SESAR) (OJ L 64, 2.3.2007, p. 1), as amended by:

Council Regulation (EC) No 1361/2008 of 16 December 2008 (OJ L 352, 31.12.2008, p. 12),

Council Regulation (EU) No 721/2014 of 16 June 2014 (OJ L 192, 1.7.2014, p. 1).

Applicable provisions: scope and application to be discussed.

Commission Implementing Regulation (EU) No 409/2013 of 3 May 2013 on the definition of common projects, the establishment of governance and the identification of incentives supporting the implementation of the European Air Traffic Management Master Plan (OJ L 123, 4.5.2013, p. 1).

Applicable provisions: Articles 1 to 15.

Commission Implementing Regulation (EU) No 716/2014 of 27 June 2014 on the establishment of the Pilot Common Project supporting the implementation of the European Air Traffic Management Master Plan (OJ L 190, 28.6.2014, p. 19).

Airspace

Commission Regulation (EC) No 2150/2005 of 23 December 2005 laying down common rules for the flexible use of airspace (OJ L 342, 24.12.2005, p. 20).

Applicable provisions: Articles 1 to 9, Annex.

Commission Implementing Regulation (EU) No 923/2012 of 26 September 2012 laying down the common rules of the air and operational provisions regarding services and procedures in air navigation and amending Implementing Regulation (EU) No 1035/2011 and Regulations (EC) No 1265/2007, (EC) No 1794/2006, (EC) No 730/2006, (EC) No 1033/2006 and (EU) No 255/2010 (OJ L 281, 13.10.2012, p. 1), as amended by:

Commission Regulation (EU) 2015/340 of 20 February 2015 (OJ L 63, 6.3.2015, p. 1),

Commission Implementing Regulation (EU) 2016/1185 of 20 July 2016 (OJ L 196, 21.7.2016, p. 3),

Commission Implementing Regulation (EU) 2020/469 of 14 February 2020 (OJ L 104, 3.4.2020, p. 1), as amended by Commission Implementing Regulation (EU) 2020/1177 (OJ L 259, 10.8.2020, p. 12),

Commission Implementing Regulation (EU) 2020/886 of 26 June 2020 (OJ L 205, 29.6.2020, p. 14).

Applicable provisions: Articles 1 to 10, Annex, including its appendixes.

FAB

Commission Regulation (EU) No 176/2011 of 24 February 2011 on the information to be provided before the establishment and modification of a functional airspace block (OJ L 51, 25.2.2011, p. 2).

C.   Aviation safety

Basic regulation

Regulation (EU) 2018/1139 of the European Parliament and of the Council of 4 July 2018 on common rules in the field of civil aviation and establishing a European Union Aviation Safety Agency, and amending Regulations (EC) No 2111/2005, (EC) No 1008/2008, (EU) No 996/2010, (EU) No 376/2014 and Directives 2014/30/EU and 2014/53/EU of the European Parliament and of the Council, and repealing Regulations (EC) No 552/2004 and (EC) No 216/2008 of the European Parliament and of the Council and Council Regulation (EEC) No 3922/91 (OJ L 212, 22.8.2018, p. 1).

Applicable provisions: Articles 1 to 30, Articles 33 to 94, Article 95(2), Articles 96 to 112 and 114 to 131, Article 132 (2), relevant annexes.

Standardisation inspections

Commission Implementing Regulation (EU) No 628/2013 of 28 June 2013 on working methods of the European Aviation Safety Agency for conducting standardisation inspections and for monitoring the application of the rules of Regulation (EC) No 216/2008 of the European Parliament and of the Council and repealing Commission Regulation (EC) No 736/2006 (OJ L 179, 29.6.2013, p. 46).

Applicable provisions: Articles 1 to 26.

Aerodromes

Commission Regulation (EU) No 139/2014 of 12 February 2014 laying down requirements and administrative procedures related to aerodromes pursuant to Regulation (EC) No 216/2008 of the European Parliament and of the Council (OJ L 44, 14.2.2014, p. 1), as amended by:

Commission Regulation (EU) 2018/401 of 14 March 2018 (OJ L 72, 15.3.2018, p. 17).

Applicable provisions: Articles 1 to 10, Annexes I to IV.

ATM/ANS

Commission Regulation (EU) 2015/340 of 20 February 2015 laying down technical requirements and administrative procedures relating to air traffic controllers’ licences and certificates pursuant to Regulation (EC) No 216/2008 of the European Parliament and of the Council, amending Commission Implementing Regulation (EU) No 923/2012 and repealing Commission Regulation (EU) No 805/2011 (OJ L 63, 6.3.2015, p. 1).

Applicable provisions: Articles 1 to 10, Annexes I to IV.

Commission Implementing Regulation (EU) 2017/373 of 1 March 2017 laying down common requirements for providers of air traffic management/air navigation services and other air traffic management network functions and their oversight, repealing Regulation (EC) No 482/2008, Implementing Regulations (EU) No 1034/2011, (EU) No 1035/2011 and (EU) 2016/1377 and amending Regulation (EU) No 677/2011 (OJ L 62, 8.3.2017, p. 1), as amended by:

Commission Implementing Regulation (EU) 2020/469 of 14 February 2020 amending Regulation (EU) No 923/2012, Regulation (EU) No 139/2014 and Regulation (EU) 2017/373 as regards requirements for air traffic management/air navigation services, design of airspace structures and data quality, runway safety and repealing Regulation (EC) No 73/2010 (OJ L 104, 3.4.2020, p. 1), as amended by Commission Implementing Regulation (EU) 2020/1177 (OJ L 259, 10.8.2020, p. 12).

Applicable provisions: Articles 1 to 10, Annexes.

Air crew

Commission Regulation (EU) No 1178/2011 of 3 November 2011 laying down technical requirements and administrative procedures related to civil aviation aircrew pursuant to Regulation (EC) No 216/2008 of the European Parliament and of the Council (OJ L 311, 25.11.2011, p. 1), as amended by:

Commission Regulation (EU) No 290/2012 of 30 March 2012 (OJ L 100, 5.4.2012, p. 1),

Commission Regulation (EU) No 70/2014 of 27 January 2014 (OJ L 23, 28.1.2014, p. 25),

Commission Regulation (EU) No 245/2014 of 13 March 2014 (OJ L 74, 14.3.2014, p. 33),

Commission Regulation (EU) 2015/445 of 17 March 2015 (OJ L 74, 18.3.2015, p. 1),

Commission Regulation (EU) 2016/539 of 6 April 2016 (OJ L 91, 7.4.2016, p. 1),

Commission Regulation (EU) 2018/1065 of 27 July 2018 (OJ L 192, 30.7. 2018, p. 31),

Commission Regulation (EU) 2018/1119 of 31 July 2018 (OJ L 204, 13.8.2018, p. 13),

Commission Implementing Regulation (EU) 2018/1974 of 14 December 2018 (OJ L 326, 20.12.2018, p. 1),

Commission Implementing Regulation (EU) 2019/27 of 19 December 2018 (OJ L 8, 10.1.2019, p. 1),

Commission Implementing Regulation (EU) 2019/430 of 18 March 2019 (OJ L 75, 19.3.2019, p. 66),

Commission Implementing Regulation (EU) 2019/1747 of 15 October 2019 (OJ L 268, 22.10.2019, p. 23),

Commission Implementing Regulation (EU) 2020/359 of 4 March 2020 (OJ L 67, 5.3.2020, p. 82),

Commission Delegated Regulation (EU) 2020/723 of 4 March 2020 (OJ L 170, 2.6.2020, p. 1).

Applicable provisions: Articles 1 to 11, Annexes I to IV.

Airspace usage requirements

Commission Regulation (EU) No 1332/2011 of 16 December 2011 laying down common airspace usage requirements and operating procedures for airborne collision avoidance (OJ L 336, 20.12.2011, p. 20), as amended by:

Commission Regulation (EU) 2016/583 of 15 April 2016 (OJ L 101, 16.4.2016, p. 7).

Applicable provisions: Articles 1 to 3, Annex.

Commission Implementing Regulation (EU) 2018/1048 of 18 July 2018 laying down airspace usage requirements and operating procedures concerning performance-based navigation (OJ L 189, 26.7.2018, p. 3).

Applicable provisions: Articles 1 to 7, Annex.

Air operations

Commission Regulation (EU) No 965/2012 of 5 October 2012 laying down technical requirements and administrative procedures related to air operations pursuant to Regulation (EC) No 216/2008 of the European Parliament and of the Council (OJ L 296, 25.10.2012, p. 1), as amended by:

Commission Regulation (EU) No 800/2013 of 14 August 2013 (OJ L 227, 24.8.2013, p. 1),

Commission Regulation (EU) No 71/2014 of 27 January 2014 (OJ L 23, 28.1.2014, p. 27),

Commission Regulation (EU) No 83/2014 of 29 January 2014 (OJ L 28, 31.1.2014, p. 17,

Commission Regulation (EU) No 379/2014 of 7 April 2014 (OJ L 123, 24.4.2014, p. 1),

Commission Regulation (EU) 2015/140 of 29 January 2015 (OJ L 24, 30.1.2015, p. 5),

Commission Regulation (EU) 2015/640 of 23 April 2015 (OJ L 106, 24.4.2015, p. 18),

Commission Regulation (EU) 2015/1329 of 31 July 2015 (OJ L 206, 1.8.2015, p. 21),

Commission Regulation (EU) 2015/2338 of 11 December 2015 (OJ L 330, 16.12.2015, p. 1),

Commission Regulation (EU) 2016/1199 of 22 July 2016 (OJ L 198, 23.7.2016, p. 13),

Commission Regulation (EU) 2017/363 of 1 March 2017 (OJ L 55, 2.3.2017, p. 1),

Commission Regulation (EU) 2018/394 of 13 March 2018 (OJ L 71, 14.3.2018, p. 1),

Commission Regulation (EU) 2018/1042 of 23 July 2018 (OJ L 188, 25.7.2018, p. 3),

Commission Implementing Regulation (EU) 2018/1975 of 14 December 2018 (OJ L 326, 20.12.2018, p. 53),

Commission Implementing Regulation (EU) 2019/1384 of 24 July 2019 (OJ L 228, 4.9.2019, p. 106),

Commission Implementing Regulation (EU) 2019/1387 of 1 August 2019 (OJ L 229, 5.9.2019, p. 1).

Applicable provisions: Articles 1 to 9a, Annexes I to VIII.

Commission Implementing Regulation (EU) 2018/1976 of 14 December 2018 laying down detailed rules for the operation of sailplanes as well as for the flight crew licensing for sailplanes pursuant to Regulation (EU) 2018/1139 of the European Parliament and of the Council (OJ L 326, 20.12.2018, p. 64), as amended by:

Commission Implementing Regulation (EU) 2020/358 of 4 March 2020 (OJ L 67, 5.3.2020, p. 57).

Commission Regulation (EU) 2018/395 of 13 March 2018 laying down detailed rules for the operation of balloons pursuant to Regulation (EC) No 216/2008 of the European Parliament and of the Council (OJ L 71, 14.3.2018, p. 10), as amended by:

Commission Implementing Regulation (EU) 2020/357 of 4 March 2020 (OJ L 67, 5.3.2020, p. 34).

Initial airworthiness

Commission Regulation (EU) No 748/2012 of 3 August 2012 laying down implementing rules for the airworthiness and environmental certification of aircraft and related products, parts and appliances, as well as for the certification of design and production organisations (OJ L 224, 21.8.2012, p. 1), as amended by:

Commission Regulation (EU) No 7/2013 of 8 January 2013 (OJ L 4, 9.1.2013, p. 36),

Commission Regulation (EU) No 69/2014 of 27 January 2014 (OJ L 23, 28.1.2014, p. 12),

Commission Regulation (EU) 2015/1039 of 30 June 2015
  OJ L 167, 1.7.2015, p. 1),

Commission Regulation (EU) 2016/5 of 5 January 2016 (OJ L 3 6.1.2016, p. 3),

Commission Delegated Regulation (EU) 2019/897 of 12 March 2019 (OJ L 144, 3.6.2019, p. 1),

Commission Delegated Regulation (EU) 2020/570 of 28 January 2020 (OJ L 132, 27.4.2020, p. 1).

Applicable provisions: Articles 1 to 10, Annex I.

Continuing airworthiness

Commission Regulation (EU) No 1321/2014 of 26 November 2014 on the continuing airworthiness of aircraft and aeronautical products, parts and appliances, and on the approval of organisations and personnel involved in these tasks (OJ L 362 17.12.2014, p. 1), as amended by:

Commission Regulation (EU) 2015/1088 of 3 July 2015 (OJ L 176, 7.7.2015, p. 4),

Commission Regulation (EU) 2015/1536 of 16 September 2015 (OJ L 241, 17.9.2015, p. 16),

Commission Regulation (EU) 2018/1142 of 14 August 2018 (OJ L 207, 16.8.2018, p. 2),

Commission Implementing Regulation (EU) 2019/1383 of 8 July 2019 (OJ L 228, 4.9.2019, p. 1),

Commission Implementing Regulation (EU) 2019/1384 of 24 July 2019 (OJ L 228, 4.9.2019, p. 106),

Commission Implementing Regulation (EU) 2020/270 of 25 February 2020 (OJ L 56, 27.2.2020, p. 20).

Applicable provisions: Articles 1 to 6, Annexes I to IV.

Additional airworthiness specifications

Commission Regulation (EU) 2015/640 of 23 April 2015 on additional airworthiness specifications for a given type of operations and amending Regulation (EU) No 965/2012 (OJ L 106, 24.4.2015, p. 18), as amended by:

Commission Implementing Regulation (EU) 2019/133 of 28 January 2019 (OJ L 25, 29.1.2019, p. 14).

Applicable provisions: Articles 1 to 5, Annexes.

EU safety list

Regulation (EC) No 2111/2005 of the European Parliament and of the Council of 14 December 2005 on the establishment of a Community list of air carriers subject to an operating ban within the Community and on informing air transport passengers of the identity of the operating air carrier, and repealing Article 9 of Directive 2004/36/EC (OJ L 344, 27.12.2005, p. 15), as amended by:

Regulation (EC) No 596/2009 of the European Parliament and of the Council of 18 June 2009 (OJ L 188, 18.7.2009, p. 14),

Regulation (EU) 2018/1139 of the European Parliament and of the Council of 4 July 2018 (OJ L 212, 22.8.2018, p. 1),

Regulation (EU) 2019/1243 of the European Parliament and of the Council of 20 June 2019 (OJ L 198, 25.7.2019, p. 241).

Applicable provisions: Articles 1 to 13, Annex.

Commission Regulation (EC) No 473/2006 of 22 March 2006 laying down implementing rules for the Community list of air carriers which are subject to an operating ban within the Community referred to in Chapter II of Regulation (EC) No 2111/2005 of the European Parliament and of the Council (OJ L 84, 23.3.2006, p. 8).

Applicable provisions: Articles 1 to 6, Annexes A to C.

Commission Regulation (EC) No 474/2006 of 22 March 2006 establishing the Community list of air carriers which are subject to an operating ban within the Community referred to in Chapter II of Regulation (EC) No 2111/2005 of the European Parliament and of the Council (OJ L 84, 23.3.2006, p. 14), as regularly amended by Commission Implementing Regulations.

Applicable provisions: Articles 1 and 2, Annexes A and B.

Occurrence reporting

Regulation (EU) No 376/2014 of the European Parliament and of the Council of 3 April 2014 on the reporting, analysis and follow-up of occurrences in civil aviation, amending Regulation (EU) No 996/2010 of the European Parliament and of the Council and repealing Directive 2003/42/EC of the European Parliament and of the Council and Commission Regulations (EC) No 1321/2007 and (EC) No 1330/2007 (OJ L 122, 24.4.2014, p. 18), as amended by:

Regulation (EU) 2018/1139 of the European Parliament and of the Council of 4 July 2018 (OJ L 212, 22.8.2018, p. 1).

Applicable provisions: Articles 1 to 7, Article 9(3), Article 10(2) to (4), Article 11(1) and (7), Article 13 with the exception of paragraph 9, Articles 14 to 16, Article 21, Annexes I to III.

Commission Implementing Regulation (EU) 2015/1018 of 29 June 2015 laying down a list classifying occurrences in civil aviation to be mandatorily reported according to Regulation (EU) No 376/2014 of the European Parliament and of the Council (OJ L 163, 30.6.2015, p. 1).

Applicable provisions: Article 1, Annexes I to V.

Commission Implementing Decision (EU) 2019/1128 of 1 July 2019 on access rights to safety recommendations and responses stored in the European Central Repository and repealing Decision 2012/780/EU (OJ L 177, 2.7.2019, p. 112).

Accidents investigation

Regulation (EU) No 996/2010 of the European Parliament and of the Council of 20 October 2010 on the investigation and prevention of accidents and incidents in civil aviation and repealing Directive 94/56/EC (OJ L 295, 12.11.2010, p. 35), as amended by:

Regulation (EU) No 376/2014 of the European Parliament and of the Council of 3 April 2014 (OJ L 122, 24.4.2014, p. 18),

Regulation (EU) 2018/1139 of the European Parliament and of the Council of 4 July 2018 (OJ L 212, 22.8.2018, p. 1).

Applicable provisions: Articles 1 to 23 with the exception of Article 7(4) and of Article 19 (repealed by Regulation (EU) No 376/2014).

Ramp inspections

Commission Regulation (EC) No 351/2008 implementing Directive 2004/36/EC of 16 April 2008 of the European Parliament and of the Council as regards the prioritisation of ramp inspections on aircraft using Community airports (OJ L 109 19.4.2008, p. 7).

Applicable provisions: Articles 1 to 3.

Other

Commission Regulation (EC) No 768/2006 of 19 May 2006 implementing Directive 2004/36/EC of the European Parliament and of the Council as regards the collection and exchange of information on the safety of aircraft using Community airports and the management of the information system (OJ L 134, 20.5.2006, p. 16).

Applicable provisions: Articles 1 to 6.

D.   Aviation security

Regulation (EC) No 300/2008 of the European Parliament and of the Council of 11 March 2008 on common rules in the field of civil aviation security and repealing Regulation (EC) No 2320/2002 (OJ L 97, 9.4.2008, p. 72).

Applicable provisions: Articles 1 to 15, 18, 21, Annex.

Commission Regulation (EU) No 18/2010 of 8 January 2010 amending Regulation (EC) No 300/2008 of the European Parliament and of the Council as far as specifications for national quality control programmes in the field of civil aviation security are concerned (OJ L 7, 12.1.2010, p. 3).

Commission Regulation (EC) No 272/2009 of 2 April 2009 supplementing the common basic standards on civil aviation security laid down in the Annex to Regulation (EC) No 300/2008 of the European Parliament and of the Council (OJ L 91, 3.4.2009, p. 7), as amended by:

Commission Regulation (EU) No 297/2010 of 9 April 2010 (OJ L 90, 10.4.2010, p. 1),

Commission Regulation (EU) No 720/2011 of 22 July 2011 (OJ L 193, 23.7.2011, p. 19),

Commission Regulation (EU) No 1141/2011 of 10 November 2011 (OJ L 293, 11.11.2011, p. 22),

Commission Regulation (EU) No 245/2013 of 19 March 2013 (OJ L 77, 20.3.2013, p. 5).

Applicable provisions: Articles 1 and 2, Annex.

Commission Regulation (EU) No 1254/2009 of 18 December 2009 setting criteria to allow Member States to derogate from the common basic standards on civil aviation security and to adopt alternative security measures (OJ L 338, 19.12.2009, p. 17), as amended by:

Commission Regulation (EU) 2016/2096 of 30 November 2016 (OJ L 326, 1.12.2016, p. 7).

Commission Implementing Regulation (EU) 2015/1998 of 5 November 2015 laying down detailed measures for the implementation of the common basic standards on aviation security (OJ L 299, 14.11.2015, p. 1), as amended by:

Commission Implementing Regulation (EU) 2015/2426 of 18 December 2015 (OJ L 334, 22.12.2015, p. 5),

Commission Implementing Regulation (EU) 2017/815 of 12 May 2017 (OJ L 122, 13.5.2017, p. 1),

Commission Implementing Regulation (EU) 2018/55 of 9 January 2018 (OJ L 10, 13.1.2018, p. 5),

Commission Implementing Regulation (EU) 2019/103 of 23 January 2019 (OJ L 21, 24.1.2019, p. 13),

Commission Implementing Regulation (EU) 2019/413 of 14 March 2019 (OJ L 73, 15.3.2019, p. 98),

Commission Implementing Regulation (EU) 2019/1583 of 25 September 2019 (OJ L 246, 26.9.2019, p. 15),

Commission Implementing Regulation (EU) 2020/111 of 13 January 2020 (OJ L 21, 27.1.2020, p. 1).

Commission Implementing Decision C (2015) 8005 of 16 November 2015 laying down detailed measures for the implementation of the common basic standards on aviation security containing information, as referred to in point (a) of Article 18 of Regulation (EC) No 300/2008, and its amendments.

Applicable provisions: as referred to in point 3 of Annex II Transitional Provisions.

E.   Environment

Directive 2002/49/EC of the European Parliament and of the Council of 25 June 2002 relating to the assessment and management of environmental noise (OJ L 189, 18.7.2002, p. 12), as amended by:

Regulation (EC) No 1137/2008 of the European Parliament and of the Council of 22 October 2008 (OJ L 311, 21.11.2008, p. 1),

Commission Directive (EU) 2015/996 of 19 May 2015 (OJ L 168, 1.7.2015, p. 1).

Applicable provisions: Articles 1 to 12, Annexes I to VI.

Directive 2006/93/EC of the European Parliament and of the Council of 12 December 2006 on the regulation of the operation of aeroplanes covered by Part II, Chapter 3, Volume 1 of Annex 16 to the Convention on International Civil Aviation, second edition (1988) (codified version) (OJ L 374, 27.12.2006, p. 1).

Applicable provisions: Articles 1 to 5, Annexes I and II.

Regulation (EU) No 598/2014 of the European Parliament and of the Council of 16 April 2014 on the establishment of rules and procedures with regard to the introduction of noise-related operating restrictions at Union airports within a Balanced Approach and repealing Directive 2002/30/EC (OJ L 173, 12.6.2014, p. 65).

Applicable provisions: Articles 1 to 10, Annexes I and II.

F.   Social aspects

Council Directive 2000/79/EC of 27 November 2000 concerning the European Agreement on the Organisation of Working Time of Mobile Workers in Civil Aviation concluded by the Association of European Airlines (AEA), the European Transport Workers' Federation (ETF), the European Cockpit Association (ECA), the European Regions Airline Association (ERA) and the International Air Carrier Association (IACA) (OJ L 302, 1.12.2000, p. 57).

Applicable provisions: Articles 2 to 3, Annex.

Directive 2003/88/EC of the European Parliament and of the Council of 4 November 2003 concerning certain aspects of the organisation of working time (OJ L 299, 18.11.2003, p. 9).

As applicable to aviation.

G.   Consumer protection

Council Regulation (EC) No 2027/97 of 9 October 1997 on air carrier liability in respect of the carriage of passengers and their baggage by air (OJ L 285, 17.10.1997, p. 1), as amended by:

Regulation (EC) No 889/2002 of the European Parliament and of the Council of 13 May 2002 (OJ L 140, 30.5.2002, p. 2).

Applicable provisions: Articles 1 to 6, Annex.

Regulation (EC) No 261/2004 of the European Parliament and of the Council of 11 February 2004 establishing common rules on compensation and assistance to passengers in the event of denied boarding and of cancellation or long delay of flights, and repealing Regulation (EEC) No 295/91 (OJ L 46, 17.2.2004, p. 1).

Applicable provisions: Articles 1 to 16.

Regulation (EC) No 1107/2006 of the European Parliament and of the Council of 5 July 2006 concerning the right of disabled persons and persons with reduced mobility when travelling by air (OJ L 204, 26.7.2006, p. 1).

Applicable provisions: Articles 1 to 16, Annexes I and II.

H.   Other legislation

Regulation (EC) No 80/2009 of the European Parliament and of the Council of 14 January 2009 on a Code of Conduct for computerised reservation systems and repealing Council Regulation (EEC) No 2299/89 (OJ L 35, 4.2.2009, p. 47).

Applicable provisions: Articles 1 to 11, Annexes.

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