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 Mandatory

(b) Banknotes denominated in national euro area currency units during the cash changeover year (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) 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) Nominal value Mandatory

(c) other intra-Eurosystem liabilities denominated in euro that may arise, including the interim distribution of ECB income (*2) (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) Nominal value or (repo) cost Recommended

(b) Customer gold deposits (b) Market value Mandatory

(c) Net pension liabilities (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) Cost/nominal/discounted value Recommended

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