Net financial assets of the Bank of Slovenia

Central banks have certain financial assets and liabilities in their balance sheets that do not relate to monetary policy and are referred to as net financial assets. They are calculated as the difference between certain asset and liability items in the balance sheets of central banks (see the announcement at the link below for details). Net financial assets arise as the result of the management of own investments by central banks, the receiving of government and non-banking sector deposits, membership in the International Monetary Fund, acting as a lender of last resort, they represent a central bank's capital, etc. Eurosystem national central banks implement the aforementioned tasks independently, provided that this does not impede the achievement of objectives and the implementation of the euro area's single monetary policy.

Similar to monetary policy instruments, changes in net financial assets result in a change in the level of liquidity available to banks. An excessive growth in net financial assets could lead to an excessive reduction in manoeuvring room for the implementation of monetary policy. The Eurosystem therefore adopted the Agreement on Net Financial Assets (ANFA), which sets an upper limit on the total amount of net financial assets of all national central banks and the allocation of that amount between them. 


Net financial assets of the Bank of Slovenia, calculated in accordance with the Agreement on Net Financial Assets (EUR million)


End of year balance

Annual average*







Source: The Bank of Slovenia
*The data may differ from the one which is published by the European central bank on its website, due to the revised financial statements, taken into account in the calculation by the Bank of Slovenia.

The time series of net financial assets of the Bank of Slovenia at the end of the year in the period from 2007 to 2015 and additional information of the evolution of net financial assets of the Bank of Slovenia in that period are available in the 2015 Annual report (see Box 4 in subchapter 3.2.3).