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Consolidated balance sheet of the Eurosystem as at 31 December 2025

Assets

(EUR millions)

31 December
2025

31 December
2024

1 Gold and gold receivables

1,274,398

872,156

2 Claims on non-euro area residents denominated in foreign currency

500,943

522,440

2.1 Receivables from the IMF

224,115

236,843

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

276,828

285,598

3 Claims on euro area residents denominated in foreign currency

16,822

16,015

4 Claims on non-euro area residents denominated in euro

33,941

20,132

4.1 Balances with banks, security investments and loans

33,941

20,132

4.2 Claims arising from the credit facility under ERM II

0

0

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

36,707

34,221

5.1 Main refinancing operations

24,958

16,979

5.2 Longer-term refinancing operations

11,749

17,194

5.3 Fine-tuning reverse operations

0

0

5.4 Structural reverse operations

0

0

5.5 Marginal lending facility

0

48

5.6 Credits related to margin calls

0

0

6 Other claims on euro area credit institutions denominated in euro

22,453

36,292

7 Securities of euro area residents denominated in euro

4,063,958

4,532,962

7.1 Securities held for monetary policy purposes

3,745,459

4,283,371

7.2 Other securities

318,499

249,591

8 General government debt denominated in euro

19,700

20,394

9 Other assets

324,401

365,924

Total assets

6,293,325

6,420,536

Liabilities

(EUR millions)

31 December
2025

31 December
2024

1 Banknotes in circulation

1,619,535

1,588,344

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

2,600,602

2,991,283

2.1 Current accounts (covering the minimum reserve system)

200,757

192,273

2.2 Deposit facility

2,399,845

2,799,010

2.3 Fixed-term deposits

0

0

2.4 Fine-tuning reverse operations

0

0

2.5 Deposits related to margin calls

0

0

3 Other liabilities to euro area credit institutions denominated in euro

11,634

27,869

4 Debt certificates issued

0

0

5 Liabilities to other euro area residents denominated in euro

215,729

203,849

5.1 General government

102,418

122,023

5.2 Other liabilities

113,310

81,826

6 Liabilities to non-euro area residents denominated in euro

171,578

242,367

7 Liabilities to euro area residents denominated in foreign currency

16,161

11,274

8 Liabilities to non-euro area residents denominated in foreign currency

2,558

603

8.1 Deposits, balances and other liabilities

2,558

603

8.2 Liabilities arising from the credit facility under ERM II

0

0

9 Counterpart of special drawing rights allocated by the IMF

169,868

182,810

10 Other liabilities

209,668

218,667

11 Revaluation accounts

1,239,057

872,322

12 Capital and reserves

36,935

81,148

Total liabilities

6,293,325

6,420,536

Notes: Based on provisional year-end data. The final annual consolidated balance sheet of the Eurosystem will be published in June.
Totals/sub-totals may not add up due to rounding.

© European Central Bank, 2026

Postal address 60640 Frankfurt am Main, Germany
Telephone +49 69 1344 0
Website www.ecb.europa.eu

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PDF ISBN 978-92-899-7023-5, ISSN 2443-5015, doi:10.2866/5836686, QB-01-25-038-EN-N
HTML ISBN 978-92-899-7022-8, ISSN 2443-5015, doi:10.2866/7108738, QB-01-25-038-EN-Q