The European Central Bank published the Eurosystem’s disaggregated financial statement as at 31 January 2025, presenting assets and liabilities by each euro area national central bank and the ECB, alongside consolidation adjustments. The consolidated balance sheet totalled EUR 6,393,680 million. On the liabilities side, banknotes in circulation were EUR 1,566,957 million and liabilities to euro area credit institutions related to monetary policy operations were EUR 3,033,231 million, comprising EUR 197,344 million in current accounts under the minimum reserve system and EUR 2,835,887 million in the deposit facility. The release also notes that the “Capital and reserves” line can be negative for individual national central banks due to the inclusion of accumulated losses carried forward.