Published: 11.08.2017

The principal changes in the assets and liabilities of Latvijas Banka on the 31 July 2017 balance sheet as compared to 30 June 2017 and the reasons for these changes.

In July 2017, loans granted as a result of targeted longer-term refinancing operations by Latvijas Banka remained unchanged.

Following the decision of the Governing Council of the European Central Bank (ECB) on an expanded asset purchase programme (APP), the balance sheet item "Securities held for monetary policy purposes" grew by 194.8 million euro or 3.4% in July 2017, mostly on account of the purchase of securities. 

In July 2017, deposits with credit institutions decreased by 207.3 million euro or 5.2% as reflected in the balance sheet item "Liabilities to euro area credit institutions related to monetary policy operations denominated in euro".

Mainly as a result of cross-border payments received and made by credit institutions and Latvijas Banka, an increase was recorded in liabilities to the ECB reported under the balance sheet item "Liabilities related to TARGET2 and national central bank correspondent accounts (net)", reflecting the settlement result in the TARGET2 settlement system.

G. Gersons
Acting Chief Accountant
Latvijas Banka