Consolidated Financial Statement of the Eurosystem as at 22 November 2024
Eurosystem’s Assets Rise to €7.4 Trillion
The consolidated financial statement of the Eurosystem as of 22 November 2024 shows that the Eurosystem’s assets have increased to a total of €7.4 trillion. This marks a significant rise from the €6.9 trillion reported in the previous financial statement.
Key Points
- The increase in assets is primarily driven by the Eurosystem’s continued purchase of government and corporate bonds under its asset purchase programs.
- The Eurosystem’s lending to banks has also increased, although at a slower pace than the purchase of bonds.
- The Eurosystem’s liabilities have also increased, but at a more moderate pace than its assets.
- The Eurosystem’s capital and reserves remain strong, providing a solid foundation for its operations.
Implications
The increase in the Eurosystem’s assets and liabilities reflects the continued expansionary monetary policy stance being pursued by the European Central Bank (ECB). The ECB has implemented a number of measures to stimulate economic growth and inflation in the euro area, including:
- Lowering interest rates to record lows
- Expanding its asset purchase programs
- Providing liquidity to banks
The Eurosystem’s financial statement suggests that these measures are having the desired effect. The eurozone economy is growing at a modest pace and inflation is gradually rising towards the ECB’s target of 2%.
Conclusion
The consolidated financial statement of the Eurosystem as at 22 November 2024 provides a clear picture of the Eurosystem’s financial position and the impact of its monetary policy measures. The Eurosystem’s assets have increased significantly, while its liabilities have also increased at a moderate pace. The Eurosystem’s capital and reserves remain strong, providing a solid foundation for its operations.
Consolidated financial statement of the Eurosystem as at 22 November 2024
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