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Monetary policy operations

The operations conducted by the Eurosystem in the context of implementing its monetary policy are disclosed in dedicated positions of the annual consolidated balance sheet of the Eurosystem, as shown below.

The monetary policy operations include the following instruments: open market operations, standing facilities, minimum reserve requirements for credit institutions and, since 2009, asset purchase programmes.

Monetary policy
Totals may not add up, due to rounding.

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