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.
Balance Sheet size
The Balance Sheet continued to expand, though at a slower pace, and increased by €10 billion in 2019, mainly due to the rise in the market value of the foreign reserve assets and the increase in the value of euro banknotes in circulation.
Profit increased by €790 million compared with 2018, due to both an increase in net interest income and better results from financial operations. This profit was distributed in full to the euro area national central banks in proportion to their paid-up shares.
Monetary policy securities
Securities held for monetary policy purposes constituted 55% of the ECB’s total assets, while the net interest income earned on them amounted to €1,447 million.
Totals may not add up, due to rounding.