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Annual accounts

The annual accounts of the ECB reflect the financial position and the results of the ECB’s operations at year-end. They comprise the management report, the financial statements (i.e. the Balance Sheet, the Profit and Loss Account, a summary of significant accounting policies and other explanatory notes), the independent auditor’s report and the note on profit distribution/allocation of losses.

The financial statements are prepared in accordance with the accounting policies laid down in the relevant legislation and are specific to the European System of Central Banks and the ECB. Read more about the production of the ECB's financial statements.

The annual accounts are an integral part of the ECB’s Annual Report. They are published in February, ahead of the respective Annual Report.


In key figures


Balance Sheet size

The Balance Sheet increased by €112 billion in 2020, mainly due to the acquisition of monetary policy securities. The rise in the value of euro banknotes in circulation also contributed to this increase.



Profit decreased by €722 million compared with 2019, mainly due to lower net interest income, in particular on securities denominated in US dollar. This profit was distributed to the euro area national central banks in proportion to their paid-up shares.


Monetary policy securities

Securities held for monetary policy purposes increased by €99 billion, mainly owing to purchases of securities under the PEPP and the APP. Net interest income earned on monetary policy securities amounted to €1,337 million.

Totals may not add up, due to rounding.

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