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The principal changes in the assets and liabilities of Latvijas Banka on the 30 November 2018 balance sheet as compared to 31 October 2018 and the reasons for these changes.

In November 2018, loans granted as a result of main refinancing operations and targeted longer-term refinancing operations by Latvijas Banka remained unchanged.

Following the decisions of the Governing Council of the European Central Bank (ECB) on the expanded asset purchase programme (APP), the balance sheet item "Securities held for monetary policy purposes" grew by 10.6 million euro or 0.1% in November 2018, mostly on account of the purchase of securities.

In November 2018, deposits of credit institutions expanded by 25.4 million euro or 0.6% 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, a decrease 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.

J. Caune
Head of Finance Department
Latvijas Banka