The European Central Bank published the consolidated balance sheet of the Eurosystem as at 31 December 2024, showing total assets and liabilities of EUR 6,420,536 million, down from EUR 6,887,265 million a year earlier. On the asset side, gold and gold receivables increased to EUR 872,156 million (from EUR 649,110 million), while securities of euro area residents denominated in euro fell to EUR 4,532,962 million (from EUR 4,898,730 million), driven by a decline in securities held for monetary policy purposes to EUR 4,283,371 million (from EUR 4,694,345 million). Lending to euro area credit institutions related to monetary policy operations decreased sharply to EUR 34,221 million (from EUR 410,290 million), reflecting a fall in longer-term refinancing operations to EUR 17,194 million (from EUR 396,196 million). On the liability side, liabilities to euro area credit institutions related to monetary policy operations declined to EUR 2,991,283 million (from EUR 3,508,865 million), mainly due to the deposit facility decreasing to EUR 2,799,010 million (from EUR 3,334,822 million), while banknotes in circulation rose to EUR 1,588,344 million (from EUR 1,567,711 million) and revaluation accounts increased to EUR 872,322 million (from EUR 634,868 million). The 2023 comparative figures for “Other assets” and “Capital and reserves” were restated to reflect presentation changes in line with Guideline (EU) 2024/2941 (ECB/2024/31).