Debt securities | ECB Data Portal (2024)

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Filters Switch filters Debt securities held by Euro area (Member States and Institutions of the Euro Area) changing composition issued by Lithuania, Euro area (Member States and Institutions of the Euro Area) changing composition, Quarterly Debt securities held by Euro area (Member States and Institutions of the Euro Area) changing composition issued by Portugal, Euro area (Member States and Institutions of the Euro Area) changing composition, Quarterly Debt securities held by Euro area (Member States and Institutions of the Euro Area) changing composition issued by Spain, Euro area (Member States and Institutions of the Euro Area) changing composition, Quarterly Debt securities held by Euro area (Member States and Institutions of the Euro Area) changing composition issued by Ireland, Euro area (Member States and Institutions of the Euro Area) changing composition, Quarterly Debt securities held by Euro area (Member States and Institutions of the Euro Area) changing composition issued by World (all entities, including reference area, including IO), Euro area (Member States and Institutions of the Euro Area) changing composition, Quarterly Debt securities held by Euro area (Member States and Institutions of the Euro Area) changing composition issued by Rest of the World, Euro area (Member States and Institutions of the Euro Area) changing composition, Quarterly Debt securities held by Euro area (Member States and Institutions of the Euro Area) changing composition issued by Rest of the World, Euro area (Member States and Institutions of the Euro Area) changing composition, Quarterly Debt securities held by Euro area (Member States and Institutions of the Euro Area) changing composition issued by Rest of the World, Euro area (Member States and Institutions of the Euro Area) changing composition, Quarterly Debt securities held by Euro area (Member States and Institutions of the Euro Area) changing composition issued by Greece, Euro area (Member States and Institutions of the Euro Area) changing composition, Quarterly Debt securities held by Euro area (Member States and Institutions of the Euro Area) changing composition issued by Rest of the World, Euro area (Member States and Institutions of the Euro Area) changing composition, Quarterly FAQs

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Debt securities held by Euro area (Member States and Institutions of the Euro Area) changing composition issued by Lithuania, Euro area (Member States and Institutions of the Euro Area) changing composition, Quarterly

Quarterly Neither seasonally adjusted nor calendar... Euro area (Member States and Institution... Lithuania Non MMF investment funds General government Non-consolidated Assets (Net Acquisition of) Transactions in financial assets and lia... Debt securities Long-term original maturity (over 1 year... Domestic currency (incl. conversion to c... All currencies Market value Current prices Non transformed data Total

Show all

Quarterly Neither seasonally a... Euro area (Member St... Lithuania Non MMF investment f... General government Non-consolidated Assets (Net Acquisit... Transactions in fina... Debt securities Long-term original m... Domestic currency (i... All currencies Market value Current prices Non transformed data Total

Show all

Time series dimensions

Frequency
Quarterly [Q]
(Modified), Quarterly (Original) [Q]
Adjustment indicator
Neither seasonally adjusted nor calendar adjusted [N]
Reference area
Euro area (Member States and Institutions of the Euro Area) changing composition [U2]
Counterpart area
Lithuania [LT]
Reference sector
Non MMF investment funds [S124]
Counterpart sector
General government [S13]
Consolidation Status
Non-consolidated [N]
Accounting entries
Assets (Net Acquisition of) [A]
Stocks, Transactions, Other Flows
Transactions in financial assets and liabilities [F]
Instrument and assets classification
Debt securities [F3]
Maturity
Long-term original maturity (over 1 year or no stated maturity) [L]
Expenditure (COFOG, COICOP, COPP or COPNI)
Not applicable [_Z]
Unit of measure
Domestic currency (incl. conversion to current currency made using a fixed parity) [XDC]
Currency denominator
All currencies [_T]
Valuation
Market value [M]
Prices
Current prices [V]
Transformation
Non transformed data [N]
Custom breakdown codification
Total [_T]

Millions of Domestic...

Last updated: 29 Feb 2024 10:00 CET

SHSS.Q.N.U2.LT.S124.S13.N.A.F.F3.L._Z.XDC._T.M.V.N._T

Debt securities held by Euro area (Member States and Institutions of the Euro Area) changing composition issued by Portugal, Euro area (Member States and Institutions of the Euro Area) changing composition, Quarterly

Quarterly Neither seasonally adjusted nor calendar... Euro area (Member States and Institution... Portugal Pension funds General government Non-consolidated Assets (Net Acquisition of) Closing balance sheet/Positions/Stocks Debt securities Long-term original maturity (over 1 year... Domestic currency (incl. conversion to c... All currencies Face value Current prices Non transformed data Total

Show all

Quarterly Neither seasonally a... Euro area (Member St... Portugal Pension funds General government Non-consolidated Assets (Net Acquisit... Closing balance shee... Debt securities Long-term original m... Domestic currency (i... All currencies Face value Current prices Non transformed data Total

Show all

Time series dimensions

Frequency
Quarterly [Q]
(Modified), Quarterly (Original) [Q]
Adjustment indicator
Neither seasonally adjusted nor calendar adjusted [N]
Reference area
Euro area (Member States and Institutions of the Euro Area) changing composition [U2]
Counterpart area
Portugal [PT]
Reference sector
Pension funds [S129]
Counterpart sector
General government [S13]
Consolidation Status
Non-consolidated [N]
Accounting entries
Assets (Net Acquisition of) [A]
Stocks, Transactions, Other Flows
Closing balance sheet/Positions/Stocks [LE]
Instrument and assets classification
Debt securities [F3]
Maturity
Long-term original maturity (over 1 year or no stated maturity) [L]
Expenditure (COFOG, COICOP, COPP or COPNI)
Not applicable [_Z]
Unit of measure
Domestic currency (incl. conversion to current currency made using a fixed parity) [XDC]
Currency denominator
All currencies [_T]
Valuation
Face value [F]
Prices
Current prices [V]
Transformation
Non transformed data [N]
Custom breakdown codification
Total [_T]

Millions of Domestic...

Last updated: 29 Feb 2024 10:00 CET

SHSS.Q.N.U2.PT.S129.S13.N.A.LE.F3.L._Z.XDC._T.F.V.N._T

Debt securities held by Euro area (Member States and Institutions of the Euro Area) changing composition issued by Spain, Euro area (Member States and Institutions of the Euro Area) changing composition, Quarterly

Quarterly Neither seasonally adjusted nor calendar... Euro area (Member States and Institution... Spain Money market funds General government Non-consolidated Assets (Net Acquisition of) Closing balance sheet/Positions/Stocks Debt securities Long-term original maturity (over 1 year... Domestic currency (incl. conversion to c... All currencies Face value Current prices Non transformed data Total

Show all

Quarterly Neither seasonally a... Euro area (Member St... Spain Money market funds General government Non-consolidated Assets (Net Acquisit... Closing balance shee... Debt securities Long-term original m... Domestic currency (i... All currencies Face value Current prices Non transformed data Total

Show all

Time series dimensions

Frequency
Quarterly [Q]
(Modified), Quarterly (Original) [Q]
Adjustment indicator
Neither seasonally adjusted nor calendar adjusted [N]
Reference area
Euro area (Member States and Institutions of the Euro Area) changing composition [U2]
Counterpart area
Spain [ES]
Reference sector
Money market funds [S123]
Counterpart sector
General government [S13]
Consolidation Status
Non-consolidated [N]
Accounting entries
Assets (Net Acquisition of) [A]
Stocks, Transactions, Other Flows
Closing balance sheet/Positions/Stocks [LE]
Instrument and assets classification
Debt securities [F3]
Maturity
Long-term original maturity (over 1 year) with short-term residual maturity (up to 1 year) [LS]
Expenditure (COFOG, COICOP, COPP or COPNI)
Not applicable [_Z]
Unit of measure
Domestic currency (incl. conversion to current currency made using a fixed parity) [XDC]
Currency denominator
All currencies [_T]
Valuation
Face value [F]
Prices
Current prices [V]
Transformation
Non transformed data [N]
Custom breakdown codification
Total [_T]

Millions of Domestic...

Last updated: 29 Feb 2024 10:00 CET

SHSS.Q.N.U2.ES.S123.S13.N.A.LE.F3.LS._Z.XDC._T.F.V.N._T

Debt securities held by Euro area (Member States and Institutions of the Euro Area) changing composition issued by Ireland, Euro area (Member States and Institutions of the Euro Area) changing composition, Quarterly

Quarterly Neither seasonally adjusted nor calendar... Euro area (Member States and Institution... Ireland Insurance corporations and Pension Funds General government Non-consolidated Assets (Net Acquisition of) Transactions in financial assets and lia... Debt securities Long-term original maturity (over 1 year... Domestic currency (incl. conversion to c... All currencies Market value Current prices Non transformed data Total

Show all

Quarterly Neither seasonally a... Euro area (Member St... Ireland Insurance corporatio... General government Non-consolidated Assets (Net Acquisit... Transactions in fina... Debt securities Long-term original m... Domestic currency (i... All currencies Market value Current prices Non transformed data Total

Show all

Time series dimensions

Frequency
Quarterly [Q]
(Modified), Quarterly (Original) [Q]
Adjustment indicator
Neither seasonally adjusted nor calendar adjusted [N]
Reference area
Euro area (Member States and Institutions of the Euro Area) changing composition [U2]
Counterpart area
Ireland [IE]
Reference sector
Insurance corporations and Pension Funds [S12Q]
Counterpart sector
General government [S13]
Consolidation Status
Non-consolidated [N]
Accounting entries
Assets (Net Acquisition of) [A]
Stocks, Transactions, Other Flows
Transactions in financial assets and liabilities [F]
Instrument and assets classification
Debt securities [F3]
Maturity
Long-term original maturity (over 1 year) with short-term residual maturity (up to 1 year) [LS]
Expenditure (COFOG, COICOP, COPP or COPNI)
Not applicable [_Z]
Unit of measure
Domestic currency (incl. conversion to current currency made using a fixed parity) [XDC]
Currency denominator
All currencies [_T]
Valuation
Market value [M]
Prices
Current prices [V]
Transformation
Non transformed data [N]
Custom breakdown codification
Total [_T]

Millions of Domestic...

Last updated: 29 Feb 2024 10:00 CET

SHSS.Q.N.U2.IE.S12Q.S13.N.A.F.F3.LS._Z.XDC._T.M.V.N._T

Debt securities held by Euro area (Member States and Institutions of the Euro Area) changing composition issued by World (all entities, including reference area, including IO), Euro area (Member States and Institutions of the Euro Area) changing composition, Quarterly

Quarterly Neither seasonally adjusted nor calendar... Euro area (Member States and Institution... World (all entities, including reference... Money market funds Financial corporations Non-consolidated Assets (Net Acquisition of) Transactions in financial assets and lia... Debt securities All original maturities Domestic currency (incl. conversion to c... All currencies Market value Current prices Non transformed data Total

Show all

Quarterly Neither seasonally a... Euro area (Member St... World (all entities,... Money market funds Financial corporatio... Non-consolidated Assets (Net Acquisit... Transactions in fina... Debt securities All original maturit... Domestic currency (i... All currencies Market value Current prices Non transformed data Total

Show all

Time series dimensions

Frequency
Quarterly [Q]
(Modified), Quarterly (Original) [Q]
Adjustment indicator
Neither seasonally adjusted nor calendar adjusted [N]
Reference area
Euro area (Member States and Institutions of the Euro Area) changing composition [U2]
Counterpart area
World (all entities, including reference area, including IO) [W0]
Reference sector
Money market funds [S123]
Counterpart sector
Financial corporations [S12]
Consolidation Status
Non-consolidated [N]
Accounting entries
Assets (Net Acquisition of) [A]
Stocks, Transactions, Other Flows
Transactions in financial assets and liabilities [F]
Instrument and assets classification
Debt securities [F3]
Maturity
All original maturities [T]
Expenditure (COFOG, COICOP, COPP or COPNI)
Not applicable [_Z]
Unit of measure
Domestic currency (incl. conversion to current currency made using a fixed parity) [XDC]
Currency denominator
All currencies [_T]
Valuation
Market value [M]
Prices
Current prices [V]
Transformation
Non transformed data [N]
Custom breakdown codification
Total [_T]

Millions of Domestic...

Last updated: 29 Feb 2024 10:00 CET

SHSS.Q.N.U2.W0.S123.S12.N.A.F.F3.T._Z.XDC._T.M.V.N._T

Debt securities held by Euro area (Member States and Institutions of the Euro Area) changing composition issued by Rest of the World, Euro area (Member States and Institutions of the Euro Area) changing composition, Quarterly

Quarterly Neither seasonally adjusted nor calendar... Euro area (Member States and Institution... Rest of the World Central bank Pension funds Non-consolidated Assets (Net Acquisition of) Transactions in financial assets and lia... Debt securities Short-term original maturity (up to 1 ye... Domestic currency (incl. conversion to c... All currencies Market value Current prices Non transformed data Total

Show all

Quarterly Neither seasonally a... Euro area (Member St... Rest of the World Central bank Pension funds Non-consolidated Assets (Net Acquisit... Transactions in fina... Debt securities Short-term original ... Domestic currency (i... All currencies Market value Current prices Non transformed data Total

Show all

Time series dimensions

Frequency
Quarterly [Q]
(Modified), Quarterly (Original) [Q]
Adjustment indicator
Neither seasonally adjusted nor calendar adjusted [N]
Reference area
Euro area (Member States and Institutions of the Euro Area) changing composition [U2]
Counterpart area
Rest of the World [W1]
Reference sector
Central bank [S121]
Counterpart sector
Pension funds [S129]
Consolidation Status
Non-consolidated [N]
Accounting entries
Assets (Net Acquisition of) [A]
Stocks, Transactions, Other Flows
Transactions in financial assets and liabilities [F]
Instrument and assets classification
Debt securities [F3]
Maturity
Short-term original maturity (up to 1 year) [S]
Expenditure (COFOG, COICOP, COPP or COPNI)
Not applicable [_Z]
Unit of measure
Domestic currency (incl. conversion to current currency made using a fixed parity) [XDC]
Currency denominator
All currencies [_T]
Valuation
Market value [M]
Prices
Current prices [V]
Transformation
Non transformed data [N]
Custom breakdown codification
Total [_T]

Millions of Domestic...

Last updated: 29 Feb 2024 10:00 CET

SHSS.Q.N.U2.W1.S121.S129.N.A.F.F3.S._Z.XDC._T.M.V.N._T

Debt securities held by Euro area (Member States and Institutions of the Euro Area) changing composition issued by Rest of the World, Euro area (Member States and Institutions of the Euro Area) changing composition, Quarterly

Quarterly Neither seasonally adjusted nor calendar... Euro area (Member States and Institution... Rest of the World Insurance corporations and Pension Funds Financial vehicle corporations engaged i... Non-consolidated Assets (Net Acquisition of) Closing balance sheet/Positions/Stocks Debt securities All original maturities Domestic currency (incl. conversion to c... All currencies Market value Current prices Non transformed data Total

Show all

Quarterly Neither seasonally a... Euro area (Member St... Rest of the World Insurance corporatio... Financial vehicle co... Non-consolidated Assets (Net Acquisit... Closing balance shee... Debt securities All original maturit... Domestic currency (i... All currencies Market value Current prices Non transformed data Total

Show all

Time series dimensions

Frequency
Quarterly [Q]
(Modified), Quarterly (Original) [Q]
Adjustment indicator
Neither seasonally adjusted nor calendar adjusted [N]
Reference area
Euro area (Member States and Institutions of the Euro Area) changing composition [U2]
Counterpart area
Rest of the World [W1]
Reference sector
Insurance corporations and Pension Funds [S12Q]
Counterpart sector
Financial vehicle corporations engaged in securitisation [S125A]
Consolidation Status
Non-consolidated [N]
Accounting entries
Assets (Net Acquisition of) [A]
Stocks, Transactions, Other Flows
Closing balance sheet/Positions/Stocks [LE]
Instrument and assets classification
Debt securities [F3]
Maturity
All original maturities [T]
Expenditure (COFOG, COICOP, COPP or COPNI)
Not applicable [_Z]
Unit of measure
Domestic currency (incl. conversion to current currency made using a fixed parity) [XDC]
Currency denominator
All currencies [_T]
Valuation
Market value [M]
Prices
Current prices [V]
Transformation
Non transformed data [N]
Custom breakdown codification
Total [_T]

Millions of Domestic...

Last updated: 29 Feb 2024 10:00 CET

SHSS.Q.N.U2.W1.S12Q.S125A.N.A.LE.F3.T._Z.XDC._T.M.V.N._T

Debt securities held by Euro area (Member States and Institutions of the Euro Area) changing composition issued by Rest of the World, Euro area (Member States and Institutions of the Euro Area) changing composition, Quarterly

Quarterly Neither seasonally adjusted nor calendar... Euro area (Member States and Institution... Rest of the World Financial vehicle corporations engaged i... Central government excluding social secu... Non-consolidated Assets (Net Acquisition of) Transactions in financial assets and lia... Debt securities Long-term original maturity (over 1 year... Domestic currency (incl. conversion to c... All currencies Market value Current prices Non transformed data Total

Show all

Quarterly Neither seasonally a... Euro area (Member St... Rest of the World Financial vehicle co... Central government e... Non-consolidated Assets (Net Acquisit... Transactions in fina... Debt securities Long-term original m... Domestic currency (i... All currencies Market value Current prices Non transformed data Total

Show all

Time series dimensions

Frequency
Quarterly [Q]
(Modified), Quarterly (Original) [Q]
Adjustment indicator
Neither seasonally adjusted nor calendar adjusted [N]
Reference area
Euro area (Member States and Institutions of the Euro Area) changing composition [U2]
Counterpart area
Rest of the World [W1]
Reference sector
Financial vehicle corporations engaged in securitisation [S125A]
Counterpart sector
Central government excluding social security [S1311]
Consolidation Status
Non-consolidated [N]
Accounting entries
Assets (Net Acquisition of) [A]
Stocks, Transactions, Other Flows
Transactions in financial assets and liabilities [F]
Instrument and assets classification
Debt securities [F3]
Maturity
Long-term original maturity (over 1 year or no stated maturity) [L]
Expenditure (COFOG, COICOP, COPP or COPNI)
Not applicable [_Z]
Unit of measure
Domestic currency (incl. conversion to current currency made using a fixed parity) [XDC]
Currency denominator
All currencies [_T]
Valuation
Market value [M]
Prices
Current prices [V]
Transformation
Non transformed data [N]
Custom breakdown codification
Total [_T]

Millions of Domestic...

Last updated: 29 Feb 2024 10:00 CET

SHSS.Q.N.U2.W1.S125A.S1311.N.A.F.F3.L._Z.XDC._T.M.V.N._T

Debt securities held by Euro area (Member States and Institutions of the Euro Area) changing composition issued by Greece, Euro area (Member States and Institutions of the Euro Area) changing composition, Quarterly

Quarterly Neither seasonally adjusted nor calendar... Euro area (Member States and Institution... Greece General government General government Non-consolidated Assets (Net Acquisition of) Transactions in financial assets and lia... Debt securities Long-term original maturity (over 1 year... Domestic currency (incl. conversion to c... All currencies Market value Current prices Non transformed data Total

Show all

Quarterly Neither seasonally a... Euro area (Member St... Greece General government General government Non-consolidated Assets (Net Acquisit... Transactions in fina... Debt securities Long-term original m... Domestic currency (i... All currencies Market value Current prices Non transformed data Total

Show all

Time series dimensions

Frequency
Quarterly [Q]
(Modified), Quarterly (Original) [Q]
Adjustment indicator
Neither seasonally adjusted nor calendar adjusted [N]
Reference area
Euro area (Member States and Institutions of the Euro Area) changing composition [U2]
Counterpart area
Greece [GR]
Reference sector
General government [S13]
Counterpart sector
General government [S13]
Consolidation Status
Non-consolidated [N]
Accounting entries
Assets (Net Acquisition of) [A]
Stocks, Transactions, Other Flows
Transactions in financial assets and liabilities [F]
Instrument and assets classification
Debt securities [F3]
Maturity
Long-term original maturity (over 1 year or no stated maturity) [L]
Expenditure (COFOG, COICOP, COPP or COPNI)
Not applicable [_Z]
Unit of measure
Domestic currency (incl. conversion to current currency made using a fixed parity) [XDC]
Currency denominator
All currencies [_T]
Valuation
Market value [M]
Prices
Current prices [V]
Transformation
Non transformed data [N]
Custom breakdown codification
Total [_T]

Millions of Domestic...

Last updated: 29 Feb 2024 10:00 CET

SHSS.Q.N.U2.GR.S13.S13.N.A.F.F3.L._Z.XDC._T.M.V.N._T

Debt securities held by Euro area (Member States and Institutions of the Euro Area) changing composition issued by Rest of the World, Euro area (Member States and Institutions of the Euro Area) changing composition, Quarterly

Quarterly Neither seasonally adjusted nor calendar... Euro area (Member States and Institution... Rest of the World Households and non profit institutions s... Total economy Non-consolidated Assets (Net Acquisition of) Transactions in financial assets and lia... Debt securities Original maturity over 10 years Domestic currency (incl. conversion to c... All currencies Market value Current prices Non transformed data Total

Show all

Quarterly Neither seasonally a... Euro area (Member St... Rest of the World Households and non p... Total economy Non-consolidated Assets (Net Acquisit... Transactions in fina... Debt securities Original maturity ov... Domestic currency (i... All currencies Market value Current prices Non transformed data Total

Show all

Time series dimensions

Frequency
Quarterly [Q]
(Modified), Quarterly (Original) [Q]
Adjustment indicator
Neither seasonally adjusted nor calendar adjusted [N]
Reference area
Euro area (Member States and Institutions of the Euro Area) changing composition [U2]
Counterpart area
Rest of the World [W1]
Reference sector
Households and non profit institutions serving households (NPISH) [S1M]
Counterpart sector
Total economy [S1]
Consolidation Status
Non-consolidated [N]
Accounting entries
Assets (Net Acquisition of) [A]
Stocks, Transactions, Other Flows
Transactions in financial assets and liabilities [F]
Instrument and assets classification
Debt securities [F3]
Maturity
Original maturity over 10 years [YA_]
Expenditure (COFOG, COICOP, COPP or COPNI)
Not applicable [_Z]
Unit of measure
Domestic currency (incl. conversion to current currency made using a fixed parity) [XDC]
Currency denominator
All currencies [_T]
Valuation
Market value [M]
Prices
Current prices [V]
Transformation
Non transformed data [N]
Custom breakdown codification
Total [_T]

More geographical areas

Millions of Domestic...

Last updated: 29 Feb 2024 10:00 CET

SHSS.Q.N.U2.W1.S1M.S1.N.A.F.F3.YA_._Z.XDC._T.M.V.N._T

More geographical areas

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Debt securities | ECB Data Portal (2024)

FAQs

How does the ECB work? ›

The European Central Bank (ECB) manages the euro and frames and implements EU economic & monetary policy. Its main aim is to keep prices stable, thereby supporting economic growth and job creation.

What is ECB in finance? ›

The European Central Bank (ECB) is the central bank responsible for monetary policy of the European Union (EU) member countries that have adopted the euro currency. This currency union is known as the eurozone and currently includes 19 countries. The ECB's primary objective is price stability in the euro area.

What is ECB quantitative easing? ›

Quantitative easing (QE) is a monetary policy action where a central bank purchases predetermined amounts of government bonds or other financial assets in order to stimulate economic activity.

Does the ECB buy bonds? ›

It only buys bonds once a market price has been identified; this ensures it does not distort the market pricing of risk. In addition, the ECB laid down a number of further safeguards regarding the nature, amount and timing of its asset purchases.

Who funds the ECB? ›

The capital of the ECB comes from the national central banks (NCBs) of all EU Member States and amounts to €10,825,007,069.61.

Who controls the ECB? ›

Together, the central banks of all the countries in the EU own the ECB. You could think of them as shareholders. They each have a share in the ECB's capital. In other words, they have each provided a certain amount of money so that we at the ECB can work towards our goal of keeping prices stable across the eurozone.

How does the ECB make money? ›

The ECB's commercial activities generate around £310m of revenue a year. Around 75% of total revenue - £225m - comes from sale of television rights to UK and international broadcasters. The most significant part of this is the ECB's agreement with Sky, which is locked in until the end of 2028.

Do banks borrow from the ECB? ›

Less attention, however, has been paid to another ECB rate increase. Banks do not only borrow from the ECB—they also lend to it. They may deposit money at national central banks in the deposit facility. The ECB, however, sets the interest rate the commercial banks receive.

Does the ECB regulate banks? ›

The ECB directly supervises the 112 significant banks of the participating countries. These banks hold almost 82% of banking assets in these countries. The decision on whether a bank is deemed significant is based on a number of criteria.

Is quantitative easing the same as inflation? ›

The findings suggest that quantitative easing has a stronger inflation effect than conventional monetary policy. This has important implications for the debate on how much conventional monetary policy tightening is required to return pandemic-era, quantitative easing-generated inflation back to target.

What are the risks of quantitative easing? ›

The biggest danger of quantitative easing is the risk of inflation. When a central bank prints money, the supply of dollars increases.

Is the ECB quantitative tightening? ›

As part of a broader monetary policy normalisation process, the ECB is now, for the first time ever, implementing quantitative tightening.

What assets does the ECB buy? ›

Portfolio rebalancing. The ECB has purchased private and public sector assets from investors such as pension funds, banks and households. These investors may choose to take the funds they receive in exchange for assets sold to the ECB and invest them in other assets.

How much debt does the ECB hold? ›

The ECB holds approximately 2500 billion euros national debt securities. If these debts were cancelled, it will render 3500 billion euros “destroy- able” [7]. There are various policies that could address this problem if the ECB wants to absorb more central money.

What is the ECB 33% limit? ›

Limits and risks

The issuer limit refers to the maximum share of an issuer's outstanding securities that the ECB is prepared to buy. The issuer limit of 33% is a means to safeguard market functioning and price formation as well as to mitigate the risk of the ECB becoming a dominant creditor of euro area governments.

How does the ECB make decisions? ›

Meetings and decisions

The Governing Council usually meets twice a month. It assesses economic and monetary developments and takes its monetary policy decisions every six weeks. At the other meetings, the Council discusses mainly issues related to other tasks and responsibilities of the ECB and the Eurosystem.

How does the ECB deposit facility work? ›

The deposit facility rate is one of the three interest rates the ECB sets every six weeks as part of its monetary policy. The rate defines the interest banks receive for depositing money with the central bank overnight.

How does the ECB control inflation? ›

We use a set of monetary policy tools to steer inflation towards our 2% target. These tools influence both the amount and cost of loans that people and companies can get. We use these tools to influence financing conditions and the level of economic activity in the euro area which in turn affect inflation.

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