Consolidated financial statement of the Eurosystem as at 27 November 2015

1 December 2015

Items not related to monetary policy operations

In the week ending 27 November 2015 gold and gold receivables (asset item 1) remained unchanged.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) increased by EUR 0.2 billion to EUR 263.8 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
27 November 2015  6-day US dollar liquidity-providing reverse transaction USD 141 million USD 134 million

The above liquidity-providing transactions were conducted by the Eurosystem in connection with the standing swap arrangement that the European Central Bank has with the Federal Reserve System.

The holdings by the Eurosystem of marketable securities other than those held for monetary policy purposes (asset item 7.2) increased by EUR 0.4 billion to EUR 359 billion. Banknotes in circulation (liability item 1) increased by EUR 4 billion to EUR 1,057.7 billion. Liabilities to general government (liability item 5.1) decreased by EUR 1 billion to EUR 114.8 billion.

Items related to monetary policy operations

The Eurosystem’s net lending to credit institutions (asset item 5 minus liability items 2.2, 2.3, 2.4, 2.5 and 4) increased by EUR 13.1 billion to EUR 366 billion. On Wednesday 25 November 2015 a main refinancing operation (asset item 5.1) of EUR 60.5 billion matured and a new one of EUR 73.8 billion, with a maturity of seven days, was settled.

During the week, a longer-term refinancing operation (asset item 5.2) of EUR 33.1 billion matured and a new one of EUR 21.8 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) remained close to nil, while recourse to the deposit facility (liability item 2.2) was EUR 159 billion (compared with EUR 170.2 billion the previous week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 16.1 billion to EUR 752.2 billion. The table below provides the detailed breakdown of asset item 7.1 into the different portfolios. All portfolios are accounted for at amortised cost.

Monetary policy securities portfolios Reported value as at 27 November 2015 Difference compared with 20 November 2015 – purchases Difference compared with 20 November 2015 – redemptions
Covered bond purchase programme 1 EUR 20.8 billion - -
Covered bond purchase programme 2 EUR 9.9 billion - -
Covered bond purchase programme 3 EUR 137.8 billion +EUR 2.1 billion -
Asset-backed securities purchase programme EUR 15.2 billion +EUR 0.2 billion -
Public sector purchase programme EUR 445.5 billion +EUR 13.7 billion -
Securities Markets Programme EUR 123.0 billion - -

Current accounts of euro area credit institutions

As a result of all transactions, the current account position of credit institutions with the Eurosystem (liability item 2.1) increased by EUR 24.7 billion to EUR 498.9 billion.

Assets (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Gold and gold receivables 348,850 0
2 Claims on non-euro area residents denominated in foreign currency 292,078 −205
  2.1 Receivables from the IMF 78,652 44
  2.2 Balances with banks and security investments, external loans and other external assets 213,426 −249
3 Claims on euro area residents denominated in foreign currency 38,242 −175
4 Claims on non-euro area residents denominated in euro 20,512 −216
  4.1 Balances with banks, security investments and loans 20,512 −216
  4.2 Claims arising from the credit facility under ERM II 0 0
5 Lending to euro area credit institutions related to monetary policy operations denominated in euro 525,212 1,946
  5.1 Main refinancing operations 73,774 13,247
  5.2 Longer-term refinancing operations 451,371 −11,350
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 67 49
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 129,014 −6,917
7 Securities of euro area residents denominated in euro 1,111,220 16,537
  7.1 Securities held for monetary policy purposes 752,209 16,106
  7.2 Other securities 359,011 430
8 General government debt denominated in euro 25,152 0
9 Other assets 216,459 3,326
Total assets 2,706,740 14,296
Liabilities (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Banknotes in circulation 1,057,697 3,958
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 658,073 13,482
  2.1 Current accounts (covering the minimum reserve system) 498,902 24,682
  2.2 Deposit facility 159,019 −11,192
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 153 −8
3 Other liabilities to euro area credit institutions denominated in euro 5,129 1
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 211,356 −3,690
  5.1 General government 114,759 −965
  5.2 Other liabilities 96,596 −2,725
6 Liabilities to non-euro area residents denominated in euro 41,035 −1,068
7 Liabilities to euro area residents denominated in foreign currency 2,222 −34
8 Liabilities to non-euro area residents denominated in foreign currency 5,099 −546
  8.1 Deposits, balances and other liabilities 5,099 −546
  8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 59,202 0
10 Other liabilities 218,991 2,194
11 Revaluation accounts 350,735 0
12 Capital and reserves 97,201 0
Total liabilities 2,706,740 14,296

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