Banknotes in circulation

This concept appears as a liabilities of the balance of the Banco de España and reflects the participation assigned to the Bank of Spain in the total value of the euro banknotes put into circulation by the Eurosystem, in accordance with its banknote allocation key.The total value of euro banknotes in circulation is recorded by allocating to each Eurosystem national central bank, on the last working day of each month, an amount based on the banknote allocation key.