2006/888/EC: Decision of the European Central Bank of 10 November 2006 on the annual accounts of the European Central Bank (ECB/2006/17)
Date: 2006-11-10
Institutions: European Central Bank
Subjects: European Central Bank, account, balance sheet, financial regulation, standardised accounting system

L 348/38

EN

Official Journal of the European Union

11.12.2006

DECISION OF THE EUROPEAN CENTRAL BANK

of 10 November 2006

on the annual accounts of the European Central Bank

(ECB/2006/17)

(2006/888/EC)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

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

Whereas:

(1)

Decision ECB/2002/11 of 5 December 2002 on the
annual accounts of the European Central Bank (1) (ECB)
requires significant amendment. From 1 January 2007 the
European System of Central Banks (ESCB) will use the eco-
nomic approach as defined in Guideline ECB/2006/16 of
10 November 2006 on the legal framework for account-
ing and financial reporting in the European System of Cen-
tral Banks (2) to record foreign exchange transactions,
financial instruments denominated in foreign currency and
related accruals. It is desirable for reasons of clarity to
recast the Decision in a single text.

(2)

Decisions ECB/2002/11, ECB/2005/12 and ECB/2006/3
which are replaced by this Decision should be repealed,

HAS DECIDED AS FOLLOWS:

CHAPTER I

GENERAL PROVISIONS

Article 1

Definitions

Article 2

Scope of application

The rules set out in this Decision shall apply to the annual
accounts of the ECB comprising the balance sheet, items recorded
in the books of the ECB off-balance sheet, the profit and loss
account and the notes to the annual accounts of the ECB.

Article 3

Basic accounting assumptions

The basic accounting assumptions defined in Article 3 of Guide-
line ECB/2006/16 shall also apply for the purposes of this
Decision.

Article 4

Recognition of assets and liabilities

A financial or other asset/liability shall only be recognised in the
balance sheet of the ECB in accordance with Article 4 of Guide-
line ECB/2006/16.

Article 5

Economic and cash/settlement approaches

Article 5 of Guideline ECB/2006/16 shall apply to this Decision.

CHAPTER II

For the purposes of this Decision, ‘Eurosystem’ and ‘national
1.
central banks’ (NCBs) shall have the same meaning as in Article 1
of Guideline ECB/2006/16.

COMPOSITION AND VALUATION RULES FOR THE BALANCE
SHEET

Other technical terms used in this Decision shall have the

2.
same meaning as in Annex II to Guideline ECB/2006/16.

Article 6

Composition of the balance sheet

(1) OJ L 58, 3.3.2003, p. 38. Decision as last amended by Decision

ECB/2006/3 (OJ L 89, 28.3.2006, p. 56).

(2) See page … of this Official Journal.

The composition of the balance sheet shall be based on the struc-
ture set out in Annex I.

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Article 7

Provision for foreign exchange rate, interest rate and gold
price risks

Taking into due consideration the nature of the ECB’s activities,
the Governing Council may establish a provision for foreign
exchange rate, interest rate and gold price risks in the balance
sheet of the ECB. The Governing Council shall decide on the size
and use of the provision on the basis of a reasoned estimate of
the ECB’s risk exposures.

Article 8

Balance sheet valuation rules

1.
Current market rates and prices shall be used for balance
sheet valuation purposes unless specified otherwise in Annex I.

CHAPTER III

INCOME RECOGNITION

Article 11

Income recognition

Article 11(1), (2), (3), (5) and (7) of Guideline ECB/2006/16

1.
shall apply to income recognition.

Holdings on special revaluation accounts stemming from
2.
contributions according to Article 49.2 of the Statute with
respect to central banks of Member States for which the deroga-
tion has been abrogated shall be used to offset unrealised losses
when exceeding previous revaluation gains registered in the cor-
responding standard revaluation account as laid down by
Article 11(1)(c) of Guideline ECB/2006/16, prior to the offset-
ting of such losses in accordance with Article 33.2 of the Stat-
ute. The holdings on special revaluation accounts for gold, for
currencies and for securities shall be reduced pro rata in the event
of a reduction in the holdings of the relevant assets.

2.
The revaluation of gold, foreign currency instruments, secu-
rities and financial instruments both on-balance-sheet and off-
balance-sheet, shall be performed at the year-end at mid-market
rates and prices.

Article 12

Cost of transactions

3.
No distinction shall be made between price and currency
revaluation differences for gold, but a single gold revaluation dif-
ference shall be accounted for, based on the euro price per
defined unit of weight of gold derived from the euro/US dollar
exchange rate on the revaluation date. Revaluation shall take
place on a currency-by-currency basis for foreign exchange,
including on-balance-sheet and off-balance-sheet transactions,
and on a code-by-code basis i.e. same ISIN number/type for secu-
rities, except for those securities included in the item ‘Other finan-
cial assets’, which shall be treated as separate holdings.

Article 12 of Guideline ECB/2006/16 shall apply to this Decision.

CHAPTER IV

ACCOUNTING RULES FOR OFF-BALANCE-SHEET
INSTRUMENTS

Article 13

General rules

Article 9

Reverse transactions

Article 13 of Guideline ECB/2006/16 shall apply to this Decision.

Reverse transactions shall be accounted for in accordance with
Article 8 of Guideline ECB/2006/16.

Article 10

Marketable equity instruments

Article 14

Foreign exchange forward transactions

Foreign exchange forward transactions shall be accounted for in
accordance with Article 14 of Guideline ECB/2006/16.

Article 15

Foreign exchange swaps

Marketable equity instruments shall be accounted for in accor-
dance with Article 9 of Guideline ECB/2006/16. All points of
Article 9(3) shall apply to the ECB.

Foreign exchange swaps shall be accounted for in accordance
with Article 15 of Guideline ECB/2006/16.

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Article 16

Interest rate futures

The format of the ECB’s published profit and loss account

2.
shall comply with Annex III.

Interest rate futures shall be accounted for in accordance with
Article 16 of Guideline ECB/2006/16.

Article 17

Interest rate swaps

Interest rate swaps shall be accounted for in accordance with
Article 17 of Guideline ECB/2006/16. Unrealised losses taken to
the profit and loss account at the year-end shall be amortised in
subsequent years according to the straight-line method.

Article 18

Forward rate agreements

Forward rate agreements shall be accounted for in accordance
with Article 18 of Guideline ECB/2006/16.

Article 19

Forward transactions in securities

Forward transactions in securities shall be accounted for in accor-
dance with Method A in Article 19(1) of Guideline ECB/2006/16.

Article 20

Options

Options shall be accounted for in accordance with Article 20 of
Guideline ECB/2006/16.

CHAPTER V

ANNUAL PUBLISHED BALANCE SHEET AND PROFIT AND
LOSS ACCOUNT

CHAPTER VI

FINAL PROVISIONS

Article 22

Development, application and interpretation of rules

1.
The ESCB’s Accounting and Monetary Income Committee
(AMICO) shall report to the Governing Council, via the Execu-
tive Board, on the development, application and implementa-
tion of the ESCB’s accounting and financial reporting rules.

2.
In interpreting this Decision, account shall be taken of the
preparatory work, the accounting principles harmonised by Com-
munity law and generally accepted international accounting
standards.

3.
If a specific accounting treatment is not laid down in this
Decision and in the absence of a decision to the contrary by the
Governing Council, the ECB shall follow valuation principles in
accordance with International Accounting Standards as adopted
by the European Union relevant to the activities and accounts of
the ECB.

Article 23

Repeal

Decisions ECB/2002/11, ECB/2005/12 and ECB/2006/3 are
hereby repealed. References to the repealed Decisions shall be
construed as references to this Decision and shall be read in
accordance with the correlation table in Annex IV.

Article 24

Final provision

Article 21

Formats

This Decision shall enter into force on 1 January 2007.

Done at Frankfurt am Main, 10 November 2006.

The format for the ECB’s published annual balance sheet

1.
shall follow the format in Annex II.

The President of the ECB
Jean-Claude TRICHET

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ANNEX I

COMPOSITION AND VALUATION RULES FOR THE BALANCE SHEET

Note:

the numbering relates to the balance sheet format given in Annex II.

ASSETS

Balance sheet item

Categorisation of contents of balance sheet items

Valuation principle

1

Gold and gold
receivables

Market value

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: upgrading or downgrading transactions
and gold location or purity swaps where there is a
difference of more than one business day between release
and receipt

2

Claim on non-euro area
residents denominated
in foreign currency

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

2.1 Receivables from the

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

IMF

National quota minus balances in euro at the dis-
posal of the IMF. The No 2 account of the IMF (euro
account
for administrative expenses) may be
included in this position or under the item ‘Liabili-
ties to non-euro area residents denominated in euro’

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

Nominal value, transla-
tion at the year-end
foreign exchange mar-
ket rate

(b) Special drawing rights

(b) Special drawing rights

Holdings of special drawing rights (gross)

Nominal value, transla-
tion at the year-end
foreign exchange mar-
ket rate

(c) Other claims

(c) Other claims

General arrangements to borrow (GAB), loans under
special borrowing arrangements, deposits within the
framework of the Poverty Reduction and Growth
Facility (PRGF)

Nominal value, transla-
tion at the year-end
foreign exchange mar-
ket rate

2.2 Balances with banks
and security invest-
ments, external loans
and other external
assets

(a) Balances with banks outside the euro area

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

(b) Security investments other than equity shares, participa-
tions and other securities under asset item ‘Other finan-
cial assets’ outside the euro area

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

(a) Balances with banks
outside the euro area

Nominal value, transla-
tion at the year-end
foreign exchange mar-
ket rate

(b) Marketable securities

Market price and for-
eign exchange market
rate at year-end

(c) External loans (deposits)

(c) External loans

Loans to and non-marketable securities other than
equity shares, participations and other securities
under asset item ‘Other financial assets’ issued by
non-euro area residents

Deposits at nominal
value, non-marketable
securities at cost; both
translated at the year-
end foreign exchange
market rate

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Balance sheet item

Categorisation of contents of balance sheet items

Valuation principle

(d) Other external assets

Non-euro area banknotes and coins

3

Claims on euro area
residents denominated
in foreign currency

(a) Securities

Marketable notes and bonds, bills, zero bonds,
money market paper other than equity shares, par-
ticipations and other securities under asset item
‘Other financial assets’

(d) Other external assets

Nominal value, transla-
tion at the year-end
foreign exchange mar-
ket rate

(a) Marketable securities

Market price and for-
eign exchange market
rate at year-end

(b) Other claims

(b) Other claims

Non-marketable securities other than equity shares,
participations and other securities under asset item
‘Other financial assets’, loans, deposits, reverse repo
transactions, sundry lending

Deposits at nominal
value, non-marketable
securities at cost, both
translated at the year-
end foreign exchange
market rate

4

Claims on non-euro
area residents denomi-
nated in euro

4.1 Balances with banks,
security investments
and loans

(a) Balances with banks outside the euro area

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

(b) Security investments other than equity shares, participa-
tions and other securities under asset item ‘Other finan-
cial assets’ outside the euro area
Marketable notes and bonds, bills, zero bonds,
money market paper, all issued by non-euro area
residents

(b) Marketable securities

Market price at year-
end

(c) Loans outside the euro area

Loans to and non-marketable securities issued by
non-euro area residents

(c) Loans outside the euro

area
Deposits at nominal
value, non-marketable
securities at cost

(d) Securities issued by entities outside the euro area

Securities issued by supranational or international
organisations e.g. the EIB, irrespective of their geo-
graphical location

(d) Securities issued by enti-
ties outside the euro area
Market price at year-
end

4.2 Claims arising from the
credit facility under
ERM II

Lending according to 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 according to the respec-
tive monetary policy instruments described in Annex I
to Guideline ECB/2000/7 of 31 August 2000 on mon-
etary policy instruments and procedures of the Eurosys-
tem (1)

5.1 Main refinancing opera-

tions

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

Nominal value or repo cost

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Balance sheet item

Categorisation of contents of balance sheet items

Valuation principle

5.2

Longer-term refinancing
operations

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

Nominal value or repo cost

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

Nominal value or repo cost

against eligible assets (standing facility)

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

accounts,

Current
fixed-term deposits, day-to-day
money, reverse repo transactions in connection with the
management of security portfolios under the asset item
‘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
with
Correspondent
non-domestic euro area credit institutions. Other claims
and operations unrelated to monetary policy operations
of the Eurosystem

accounts

claims.

Securities of euro area
residents denominated
in euro

than equity

securities other

Marketable
shares,
participations and other securities under asset item
‘Other financial assets’: notes and bonds, bills, zero
bonds, money market paper held outright including
government securities stemming from before EMU
denominated in euro; ECB debt certificates purchased for
fine-tuning purposes

Nominal value or cost

Market price at year-end

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

7

8

9

Intra-Eurosystem claims

9.1 Claims related to
promissory notes
backing the issuance of
ECB debt certificates

Only an ECB balance sheet item
Promissory notes issued by NCBs, due to the back-to-
back agreement in connection with ECB debt certificates

Nominal value

9.2 Claims related to the

allocation of euro ban-
knotes within the Euro-
system

Claims related to the ECB’s banknote issue, according to
Decision ECB/2001/15 of 6 December 2001 on the
issue of euro banknotes (2)

Nominal value

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Balance sheet item

Categorisation of contents of balance sheet items

Valuation principle

9.3 Other claims within the
Eurosystem (net)

Net position of the following sub-items:

(a) net claims arising from balances of TARGET
accounts and correspondent accounts of NCBs i.e.
the net figure of claims and liabilities - see also liabil-
ity item ‘Other liabilities within the Eurosystem (net)’

(a) Nominal value

(b) other

intra-Eurosystem claims that may arise,
including the interim distribution of ECB seignior-
age income to NCBs

(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 system-
atic allocation of the depre-
ciable 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

Capitalisation of expendi-
ture: limit based (below
EUR 10 000 excluding
VAT: no capitalisation)

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Balance sheet item

Categorisation of contents of balance sheet items

Valuation principle

11.3 Other financial assets

— Equity instruments, participating interests and

(a) Marketable equity instru-

investments in subsidiaries

— Securities held as an earmarked portfolio
— Financial fixed assets
— Reverse repo transactions with credit institutions in
connection with the management of securities
portfolios under this item

11.4 Off-balance sheet

instruments revaluation
differences

Valuation results of foreign exchange forwards, foreign
exchange swaps, interest rate swaps, forward rate agree-
ments,
foreign
exchange spot transactions from trade date to settlement
date

forward transactions

in securities,

11.5 Accruals and prepaid

expediture

Income not due in, but assignable to the reported period.
Prepaid expenditure and accrued interest paid (3)

ments
Market value

(b) Participating interests

and illiquid equity shares
Cost subject to impair-
ment

(c)

Investment in subsidiaries
or significant interests
Net asset value

(d) Marketable securities
Market value

(e) Non-marketable securi-

ties
Cost

(f)

Financial fixed assets
Cost subject to impair-
ment

Premiums/discounts are
amortised

For equity instruments, the
detailed rules are set out in
Article 10 of this Decision

Net position between for-
ward and spot, at the for-
eign exchange market rate

Nominal value, foreign
exchange translated at mar-
ket rate

11.6 Sundry

(a) Advances, loans, other minor items. Loans on a trust

(a) Nominal value/cost

basis

(b)

Investments related to customer gold deposits

(b) Market value

(c) Net pension assets

12

Loss for the year

(1) OJ L 310, 11.12.2000, p. 1.
(2) OJ L 337, 20.12.2001, p. 52.
(3)

I.e. accrued interest purchased with a security.

(c) As per Article 22(3)

Nominal value

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1

2

LIABILITIES

Balance sheet item

Categorisation of contents of balance sheet items

Valuation principle

Banknotes in
circulation

Euro banknotes issued by the ECB, according to Decision
ECB/2001/15

Nominal value

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

Items 2.1, 2.2, 2.3 and 2.5: deposits in euro as described
in Annex I to Guideline ECB/2000/7

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 according to the Statute. This item contains
primarily accounts used in order to hold minimum
reserves

Nominal value

2.2 Deposit facility

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

rate

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

4

5

Other liabilities to euro
area credit institutions
denominated in euro

Repo transactions in connection with simultaneous
reverse repo transactions for
the management of
securities portfolios under asset item ‘Securities of euro
area residents denominated in euro’. Other operations
unrelated to Eurosystem monetary policy operations. No
current accounts of credit institutions

Nominal value or repo cost

ECB debt certificates
issued

Only an ECB balance sheet item
Debt certificates as described in Annex I to Guideline
ECB/2000/7
Discount paper, issued with the aim of liquidity absorp-
tion

Nominal value

Liabilities to other euro
area residents denomi-
nated in euro

5.1 General government

Current accounts, fixed-term deposits, deposits repay-
able on demand

Nominal value

5.2 Other liabilities

Current accounts of staff, companies and clients includ-
ing financial institutions listed as exempt from the obli-
gation to hold minimum reserves - see liability item 2.1,
etc.; fixed-term deposits, deposits repayable on demand

Nominal value

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7

8

Balance sheet item

Categorisation of contents of balance sheet items

Valuation principle

Liabilities to non-euro
area residents
denominated in euro

other

Current accounts, fixed-term deposits, deposits repayable
on demand including accounts held for payment
purposes and accounts held for reserve management
banks,
of
purposes:
central
banks,
international/supranational
institutions including the
Commission of the European Communities; current
accounts of other depositors. Repo transactions in
connection with simultaneous reverse repo transactions
for the management of securities denominated in euro.
Balances of TARGET accounts of central banks of
Member States that have not adopted the euro

Nominal value or repo cost

Liabilities to euro area
residents denominated
in foreign currency

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

Nominal value, translation
at year-end foreign
exchange market rate

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, translation
at the year-end foreign
exchange market rate

8.2

9

Liabilities arising from
the credit facility under
ERM II

Borrowing according to the ERM II conditions

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

Counterpart of special
drawing rights allocated
by the IMF

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

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

10

Intra-Eurosystem
liabilities

10.1 Liabilities equivalent to

ECB balance sheet item, denominated in euro

Nominal value

the transfer of foreign
reserves

10.2 Other liabilities within

Net position of the following sub-items:

the Eurosystem (net)

(a) net liabilities arising from balances of TARGET
accounts and correspondent accounts of NCBs i.e.
the net figure of claims and liabilities -see also asset
item ‘Other claims within the Eurosystem (net)’

(a) Nominal value

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

(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, forward rate agree-
ments,
foreign
exchange spot transactions from trade date to settlement
date

forward transactions

in securities,

Net position between for-
ward and spot, at the for-
eign exchange market rate

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Balance sheet item

Categorisation of contents of balance sheet items

Valuation principle

12.2 Accruals and income
collected in advance

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

Nominal value, foreign
exchange translated at
market rate

12.3 Sundry

13

Provisions

14 Revaluation accounts

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

(b) Customer gold deposits

(c) Net pension liabilities

For foreign exchange rate, interest rate and gold price
risks, and for other purposes e.g. expected future
expenses and contributions according to Article 49.2 of
the Statute with respect to central banks of Member
States whose derogations have been abrogated

for

every

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

securities,

including

foreign

(a) Nominal value
or (repo) cost

(b) Market value

(c) As per Article 22(3)

Cost/nominal value

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

(b) Special revaluation accounts stemming from contri-
butions according to Article 49.2 of the Statute with
respect to central banks of Member States whose
derogations have been abrogated - see Article 11(2)

15

Capital and reserves

15.1 Capital

15.2 Reserves

16

Profit for the year

Paid-up capital

Legal reserves, according to Article 33 of the Statute and
contributions according to Article 49.2 of the Statute
with respect to central banks of Member States whose
derogations have been abrogated

Nominal value

Nominal value

Nominal value

ANNEX II

Annual balance sheet of the ECB

Assets

Reporting
year

Previous
year

Liabilities

(EUR million) (1)

Reporting
year

Previous
year

1

2

3

4

5

6

7

8

9

Gold and gold receivables

Claims on non-euro area residents denominated in foreign currency
2.1 Receivables from the IMF
2.2 Balances with banks and security investments, external loans and other

external assets

Claims on euro area residents denominated in foreign currency

Claims on non-euro area residents denominated in euro
4.1 Balances with banks, security investments and loans
4.2 Claims arising from the credit facility under ERM II

Lending to euro area credit institutions related to monetary policy operations
denominated in euro
5.1 Main refinancing operations
5.2 Longer-term refinancing operations
5.3 Fine-tuning reverse operations
5.4 Structural reverse operations
5.5 Marginal lending facility
5.6 Credits related to margin calls

Other claims on euro area credit institutions denominated in euro

Securities of euro area residents denominated in euro

General government debt denominated in euro

Intra-Eurosystem claims
9.1 Claims related to promissory notes backing the issuance of ECB debt cer-

tificates

9.2 Claims related to the allocation of euro banknotes within the Eurosystem
9.3 Other claims within the Eurosystem (net)

10

Items in course of settlement

11 Other assets

11.1 Coins of euro area
11.2 Tangible and intangible fixed assets
11.3 Other financial assets
11.4 Off-balance sheet instruments revaluation differences
11.5 Accruals and prepaid expenses
11.6 Sundry

12

Loss for the year

1

2

3

4

5

6

7

8

Banknotes in circulation

Liabilities to euro area credit institutions related to monetary policy opera-
tions denominated in euro
2.1 Current accounts covering the minimum reserve system
2.2 Deposit facility
2.3 Fixed-term deposits
2.4 Fine-tuning reverse operations
2.5 Deposits related to margin calls

Other liabilities to euro area credit institutions denominated in euro

ECB debt certificates issued

Liabilities to other euro area residents denominated in euro
5.1 General government
5.2 Other liabilities

Liabilities to non-euro area residents denominated in euro

Liabilities to euro area residents denominated in foreign currency

Liabilities to non-euro area residents denominated in foreign currency
8.1 Deposits, balances and other liabilities
8.2 Liabilities arising from the credit facility under ERM II

9

10

Counterpart of special drawing rights allocated by the IMF

Intra-Eurosystem liabilities
10.1 Liabilities equivalent to the transfer of foreign reserves
10.2 Other liabilities within the Eurosystem (net)

11

Items in course of settlement

12 Other liabilities

12.1 Off-balance sheet instruments revaluation differences
12.2 Accruals and income collected in advance
12.3 Sundry

13

Provisions

14 Revaluation accounts

15 Capital and reserves
15.1 Capital
15.2 Reserves

16

Profit for the year

(1) The ECB may alternatively publish exact euro amounts, or amounts rounded in a different manner.

Total assets

Total liabilities

.

1
1
1
2
2
0
0
6

.

E
N

O

f
f
i
c
i
a
l

J
o
u
r
n
a
l

o
f

t
h
e

E
u
r
o
p
e
a
n
U
n
o
n

i

L

3
4
8
/
4
9

L 348/50

EN

Official Journal of the European Union

11.12.2006

ANNEX III

PUBLISHED PROFIT AND LOSS ACCOUNT OF THE ECB

Profit and loss account for the year ending 31 December …

Reporting year

Previous year

(EUR million) (1)

1.1.1

Interest income on foreign reserve assets

1.1.2

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

1.1.3

Other interest income

1.1

Interest income

1.2.1

Remuneration of NCBs’ claims in respect of foreign reserves transferred

1.2.2

Other interest expense

1.2

1

2.1

2.2

2.3

2

3.1

3.2

3

4

5

6

7

8

9

Interest expense

Net interest income

Realised gains/losses arising from financial operations

Write-downs on financial assets and positions

Transfer to/from provisions for foreign exchange rate and price risks

Net result of financial operations, write downs and risk provisions

Fees and commissions income

Fees and commissions expense

Net income/expense from fees and commissions (2)

Income from equity shares and participating interests

Other income

Staff costs (3)

Administrative expenses (3)

Depreciation of tangible and intangible fixed assets

Banknote production services (4)

Total net income

10

Other expenses

(Loss)/profit for the year

Including administrative provisions.

(1) The ECB may alternatively publish exact euro amounts, or amounts rounded in a different manner.
(2) The breakdown between income and expense may alternatively be provided in the explanatory notes to the annual accounts.
(3)
(4) This item is used in case of outsourced banknote production (for the cost of the services provided by external companies in charge of
the production of banknotes on behalf of the central banks). It is recommended that the costs incurred in connection with the issue of
euro banknotes should be taken to the profit and loss account as they are invoiced or otherwise incurred, see also Guideline ECB/2006/16.

11.12.2006

EN

Official Journal of the European Union

L 348/51

ANNEX IV

CORRELATION TABLE

Decision ECB/2002/11

This Decision

—

Article 7

Article 8

Article 9

Article 10

Article 11

Article 12

Article 13

Article 14

Article 15

Article 16

Article 17

Article 18

—

Article 19

Article 20

Article 21

Article 22

Article 7

Article 8

Article 9

Article 10

Article 11

Article 12

Article 13

Article 14

Article 15

Article 16

Article 17

Article 18

Article 19

Article 20

Article 21

Article 22

Article 23

Article 24