Consolidated financial statement of the Eurosystem as at 11 December 2015

15 December 2015

Items not related to monetary policy operations

In the week ending 11 December 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) remained virtually unchanged and amounted to EUR 264.1 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
10 December 2015  7-day US dollar liquidity-providing reverse transaction USD 134 million USD 135 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 0.9 billion to EUR 359.1 billion. Banknotes in circulation (liability item 1) increased by EUR 3.3 billion to EUR 1,069.4 billion. Liabilities to general government (liability item 5.1) decreased by EUR 10.4 billion to EUR 69.4 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 2.6 billion to EUR 346.5 billion. On Wednesday, 9 December 2015 a main refinancing operation (asset item 5.1) of EUR 69.8 billion matured and a new one of EUR 69.1 billion, with a maturity of seven days, was settled.

Recourse to the marginal lending facility (asset item 5.5) remained virtually unchanged and amounted to EUR 0.2 billion, while recourse to the deposit facility (liability item 2.2) was EUR 174 billion (compared with EUR 177.3 billion in the previous week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 15.6 billion to EUR 786.3 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 11 December 2015 Difference compared with 4 December 2015 – purchases Difference compared with 4 December 2015 – redemptions
Covered bond purchase programme 1 EUR 20.7 billion - -
Covered bond purchase programme 2 EUR 9.8 billion - -
Covered bond purchase programme 3 EUR 141.8 billion +EUR 1.9 billion -
Asset-backed securities purchase programme EUR 15.4 billion +EUR 0.1 billion -
Public sector purchase programme EUR 475.5 billion +EUR 13.6 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 38.7 billion to EUR 559.2 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 296,181 1,710
  2.1 Receivables from the IMF 78,651 −4
  2.2 Balances with banks and security investments, external loans and other external assets 217,530 1,713
3 Claims on euro area residents denominated in foreign currency 33,948 −2,382
4 Claims on non-euro area residents denominated in euro 19,594 −172
  4.1 Balances with banks, security investments and loans 19,594 −172
  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 520,617 −777
  5.1 Main refinancing operations 69,094 −720
  5.2 Longer-term refinancing operations 451,371 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 151 −57
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 124,124 −3,371
7 Securities of euro area residents denominated in euro 1,145,442 16,458
  7.1 Securities held for monetary policy purposes 786,331 15,594
  7.2 Other securities 359,111 865
8 General government debt denominated in euro 25,152 0
9 Other assets 218,027 1,820
Total assets 2,731,936 13,285
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 1,069,441 3,265
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 733,267 35,357
  2.1 Current accounts (covering the minimum reserve system) 559,160 38,739
  2.2 Deposit facility 173,966 −3,369
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 141 −13
3 Other liabilities to euro area credit institutions denominated in euro 5,169 151
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 155,293 −22,221
  5.1 General government 69,424 −10,375
  5.2 Other liabilities 85,868 −11,845
6 Liabilities to non-euro area residents denominated in euro 37,082 −2,362
7 Liabilities to euro area residents denominated in foreign currency 2,009 −128
8 Liabilities to non-euro area residents denominated in foreign currency 4,806 −516
  8.1 Deposits, balances and other liabilities 4,806 −516
  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 217,733 −261
11 Revaluation accounts 350,735 0
12 Capital and reserves 97,200 0
Total liabilities 2,731,936 13,285

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