other reserve assets ( a ) financial derivatives ( b ) loans to non bank non residents ( c ) other B. Other foreign currency assets ( a ) securities not included in official reserve assets ( b ) deposits not included in official reserve assets ( c ) loans not included in official reserve assets ( d ) financial derivatives not included in official reserve assets ( e ) gold not included in official reserve assets ( f ) other

Table 3 Monthly international reserves of the Eurosystem reserve related liabilities of the euro area I. Official reserve assets and other foreign currency assets ( approximate market value ) A. Official reserve assets 1 .

Governing Council decides on key interest rates Foreign reserve assets held by the ECB and by NCBs

Reserve assets 5.1 .

Reserve assets ( see also BoP Book Section 3.11 . ) The reserve assets of the euro area consist of the Eurosystem 's reserve assets , i.e. the ECB 's and the NCBs reserve assets .

Reserve assets ( see also B.o.p. book , Section 3.11 ) The reserve assets of the euro area consist of the Eurosystem 's reserve assets , i.e. the ECB 's and the NCBs reserve assets .

In ERM II a realignment consists of a change in the euro central rate . Re denomination of securities the denomination of a security is the currency in which the par value of the security is expressed ( in most cases , the face value of a certificate ) .

Foreign reserve assets held by national central banks

ECB 's foreign reserve management

ECB Guideline on the management of foreign reserve assets

Interest expense on foreign reserve liabilities ( 144,262,865 ) ( 227,575,627 ) Interest income on foreign reserve assets ( net ) 1,707,431,459 2,507,164,892

Interest expense on foreign reserve liabilities ( 70,371,421 ) ( 144,262,865 ) Interest income on foreign reserve assets ( net ) 990,618,897 1,707,431,459

Foreign currency reserves ( in convertible foreign currencies ) ( a ) Securities , of which issuer headquartered in the euro area ( b ) total currency and deposits with ( i ) other NCBs , Bank for International Settlements ( BIS ) and IMF ( ii ) banks headquartered in the euro area and located abroad ( iii ) banks headquartered and located outside the euro area 2 .

It is the ECB 's understanding that the proposed regulation does not require data on reserve assets from Member States , there being no EU reserve assets as such .

Unless they are categorized either as direct investment or as reserve assets .

Article 3 Transfer of foreign reserve assets 1 .

Interest income on foreign reserve assets 1.1.2 .

Article 31 Foreign reserve assets held by national central banks

Article 2 Transfers of foreign reserve assets by participating NCBs 1 .

Interest income on foreign reserve assets ( net ) 541,294,375

As long as no further transfer of ownership takes place , reserve assets retained by the NCBs are under their direct and effective control and are treated as reserve assets of each individual NCB .

Article 2 Further calls of foreign reserve assets 1 .

Article 30 Transfer of foreign reserve assets to the ECB

Transfer of foreign reserve assets to the European Central Bank

Article 31 Foreign reserve assets held by national central banks 31.1 .

ECB Guideline on management of the ECB 's foreign reserve assets

Remuneration of foreign reserve assets transferred to the ECB On transferring foreign reserve assets to the ECB upon joining the Eurosystem , each NCB acquires a remunerated claim on the ECB equivalent to the amount it transfers .

Remuneration of foreign reserve assets transferred to the ECB On transferring foreign reserve assets to the ECB upon joining the Eurosystem , each NCB acquires a remunerated claim on the ECB equivalent to the amount it transfers .

As long as no further transfer of ownership takes place , reserve assets retained by the NCBs are under their direct and effective control and are treated as reserve assets of each individual NCB .

Interest income on foreign reserve assets is disclosed net of interest expense on foreign reserve liabilities as follows 2001 Euros Gross interest income on foreign reserve assets 2000 Euros

Remuneration of foreign reserve assets transferred to the ECB On transferring foreign reserve assets to the ECB upon joining the Eurosystem , each NCB acquires a remunerated claim on the ECB equivalent to the amount it transfers .

Remuneration of foreign reserve assets transferred to the ECB On transferring foreign reserve assets to the ECB upon joining the Eurosystem , each NCB acquired a remunerated claim on the ECB for the value of the amount it transferred .

Article 30 Transfer of foreign reserve assets to the ECB 30.1 .

Accordingly , monthly data on ( gross ) reserve assets of the Eurosystem are supplemented with information on other foreign currency assets and predetermined and contingent short term net drains on the gross reserve assets classified according to residual maturity .

Reserve assets are compiled on a gross basis without any netting off of reserve related liabilities .

Article 2 Management of foreign reserve assets by the participating NCBs as the ECB 's agents 1 .

Reserve assets are compiled on a gross basis without any netting out of reserve related liabilities .

The remaining Eurosystem foreign reser ve assets are owned and managed by the NCBs .

The Eurosystem is responsible for holding and managing the foreign reserve assets of the participating EU Member States .

To allow , therefore , under the current ceiling , for future proportional transfers of foreign reserve assets by the NCBs of all prospective euro area member countries , the ECB would have had to retransfer foreign reserves to current euro area NCBs .

Subject to these constraints , the ECB 's foreign reserves are managed in such a way as to maximise their return .

B Article 2 Management of foreign reserve assets by the participating NCBs as the ECB 's agents 1 .

Nor are balances in foreign currency held by governments of participating Member States considered to be reserve assets .

Nor are balances in foreign currency held by governments of participating Member States considered to be reserve assets . Coverage

The latter focuses on foreign reserve assets and the management of the ECB 's own capital .