Consolidated financial statement of the Eurosystem as at 18 December 2015

22 December 2015

Items not related to monetary policy operations

In the week ending 18 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) increased by EUR 1.2 billion to EUR 265.4 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
17 December 2015  7-day US dollar liquidity-providing reverse transaction USD 135 million -
17 December 2015  21-day US dollar liquidity-providing reverse transaction - USD 925 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) decreased by EUR 0.4 billion to EUR 358.7 billion. Banknotes in circulation (liability item 1) increased by EUR 5.2 billion to EUR 1,074.7 billion. Liabilities to general government (liability item 5.1) increased by EUR 17.5 billion to EUR 86.9 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 2.7 billion to EUR 349.2 billion. On Wednesday, 16 December 2015 a main refinancing operation (asset item 5.1) of EUR 69.1 billion matured and a new one of EUR 68.6 billion, with a maturity of seven days, was settled.

During the week, a longer-term refinancing operation (asset item 5.2) of EUR 11.8 billion matured and a new one of EUR 11.7 billion was settled. In addition, a targeted longer-term refinancing operation of EUR 18.3 billion, with a maturity of 1,015 days, was settled.

Recourse to the marginal lending facility (asset item 5.5) decreased by EUR 0.1 billion and was close to nil, while recourse to the deposit facility (liability item 2.2) was EUR 188.8 billion (compared with EUR 174 billion in the previous week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 12.2 billion to EUR 798.6 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 18 December 2015 Difference compared with 11 December 2015 – purchases Difference compared with 11 December 2015 – redemptions
Covered bond purchase programme 1 EUR 20.6 billion - -EUR 0.1 billion
Covered bond purchase programme 2 EUR 9.7 billion - -EUR 0.1 billion
Covered bond purchase programme 3 EUR 143.4 billion +EUR 1.5 billion -
Asset-backed securities purchase programme EUR 15.6 billion +EUR 0.1 billion -
Public sector purchase programme EUR 486.7 billion +EUR 11.2 billion -
Securities Markets Programme EUR 122.6 billion - -EUR 0.4 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) decreased by EUR 8.7 billion to EUR 550.5 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 348,851 0
2 Claims on non-euro area residents denominated in foreign currency 295,409 −772
  2.1 Receivables from the IMF 79,025 374
  2.2 Balances with banks and security investments, external loans and other external assets 216,385 −1,146
3 Claims on euro area residents denominated in foreign currency 35,441 1,492
4 Claims on non-euro area residents denominated in euro 19,726 132
  4.1 Balances with banks, security investments and loans 19,726 132
  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 538,174 17,557
  5.1 Main refinancing operations 68,570 −524
  5.2 Longer-term refinancing operations 469,543 18,172
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 60 −91
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 122,546 −1,578
7 Securities of euro area residents denominated in euro 1,157,241 11,799
  7.1 Securities held for monetary policy purposes 798,576 12,246
  7.2 Other securities 358,664 −447
8 General government debt denominated in euro 25,151 −1
9 Other assets 216,717 −1,310
Total assets 2,759,255 27,319
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 1,074,682 5,241
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 739,458 6,192
  2.1 Current accounts (covering the minimum reserve system) 550,495 −8,665
  2.2 Deposit facility 188,823 14,857
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 141 0
3 Other liabilities to euro area credit institutions denominated in euro 5,143 −25
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 172,274 16,981
  5.1 General government 86,886 17,462
  5.2 Other liabilities 85,387 −481
6 Liabilities to non-euro area residents denominated in euro 37,194 112
7 Liabilities to euro area residents denominated in foreign currency 1,967 −42
8 Liabilities to non-euro area residents denominated in foreign currency 4,320 −486
  8.1 Deposits, balances and other liabilities 4,320 −486
  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 217,080 −653
11 Revaluation accounts 350,735 0
12 Capital and reserves 97,200 0
Total liabilities 2,759,255 27,319

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