Consolidated financial statement of the Eurosystem as at 25 December 2015

29 December 2015

Items not related to monetary policy operations

In the week ending 25 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) decreased by EUR 0.1 billion to EUR 265.3 billion.

During the week, the Eurosystem did not conduct any liquidity-providing transactions 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 0.6 billion to EUR 358.1 billion. Banknotes in circulation (liability item 1) increased by EUR 8.7 billion to EUR 1,083.4 billion. Liabilities to general government (liability item 5.1) decreased by EUR 16.8 billion to EUR 70.1 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 16.1 billion to EUR 365.3 billion. On Wednesday, 23 December 2015 a main refinancing operation (asset item 5.1) of EUR 68.6 billion matured and a new one of EUR 72.9 billion, with a maturity of seven days, 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 177.1 billion (compared with EUR 188.8 billion in the previous week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 6.7 billion to EUR 805.3 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 25 December 2015 Difference compared with 18 December 2015 – purchases Difference compared with 18 December 2015 – redemptions
Covered bond purchase programme 1 EUR 20.6 billion - -
Covered bond purchase programme 2 EUR 9.7 billion -
Covered bond purchase programme 3 EUR 143.8 billion +EUR 0.4 billion -
Asset-backed securities purchase programme EUR 15.5 billion - -EUR 0.1 billion
Public sector purchase programme EUR 493.1 billion +EUR 6.4 billion -
Securities Markets Programme EUR 122.6 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 29.4 billion to EUR 579.9 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 348,851 0
2 Claims on non-euro area residents denominated in foreign currency 298,187 2,778
  2.1 Receivables from the IMF 79,083 59
  2.2 Balances with banks and security investments, external loans and other external assets 219,104 2,719
3 Claims on euro area residents denominated in foreign currency 32,212 −3,229
4 Claims on non-euro area residents denominated in euro 20,468 742
  4.1 Balances with banks, security investments and loans 20,468 742
  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 542,488 4,314
  5.1 Main refinancing operations 72,908 4,338
  5.2 Longer-term refinancing operations 469,543 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 37 −23
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 111,767 −10,779
7 Securities of euro area residents denominated in euro 1,163,346 6,105
  7.1 Securities held for monetary policy purposes 805,280 6,704
  7.2 Other securities 358,066 −599
8 General government debt denominated in euro 25,151 0
9 Other assets 225,345 8,628
Total assets 2,767,815 8,560
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 1,083,395 8,713
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 757,053 17,595
  2.1 Current accounts (covering the minimum reserve system) 579,859 29,365
  2.2 Deposit facility 177,054 −11,769
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 140 −1
3 Other liabilities to euro area credit institutions denominated in euro 5,098 −45
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 152,227 −20,046
  5.1 General government 70,092 −16,795
  5.2 Other liabilities 82,136 −3,252
6 Liabilities to non-euro area residents denominated in euro 40,831 3,637
7 Liabilities to euro area residents denominated in foreign currency 2,762 795
8 Liabilities to non-euro area residents denominated in foreign currency 4,137 −183
  8.1 Deposits, balances and other liabilities 4,137 −183
  8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 58,210 −991
10 Other liabilities 216,165 −915
11 Revaluation accounts 350,735 0
12 Capital and reserves 97,201 1
Total liabilities 2,767,815 8,560

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