Consolidated financial statement of the Eurosystem as at 15 January 2016

19 January 2016

Items not related to monetary policy operations

In the week ending 15 January 2016 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 0.4 billion to EUR 270.5 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
14 January 2016  7-day US dollar liquidity-providing reverse transaction USD 117 million USD 125 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 1 billion to EUR 355.7 billion. Banknotes in circulation (liability item 1) decreased by EUR 8.3 billion to EUR 1,065.6 billion. Liabilities to general government (liability item 5.1) increased by EUR 27.9 billion to EUR 95.4 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) decreased by EUR 10.7 billion to EUR 319.2 billion. On Wednesday, 13 January 2016, a main refinancing operation (asset item 5.1) of EUR 70.6 billion matured and a new one of EUR 65.7 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with virtually nil in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 216 billion (compared with EUR 210.1 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 17.3 billion to EUR 829.7 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 15 January 2016 Difference compared with 8 January 2016 – purchases Difference compared with 8 January 2016 – redemptions
Covered bond purchase programme 1 EUR 20.6 billion - -
Covered bond purchase programme 2 EUR 9.6 billion - -EUR 0.1 billion
Covered bond purchase programme 3 EUR 146.0 billion +EUR 2.3 billion -EUR 0.3 billion
Asset-backed securities purchase programme EUR 15.4 billion +EUR 0.1 billion -
Public sector purchase programme EUR 515.2 billion +EUR 15.3 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) decreased by EUR 15.9 billion to EUR 547.5 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 338,713 0
2 Claims on non-euro area residents denominated in foreign currency 308,405 −376
  2.1 Receivables from the IMF 80,357 −11
  2.2 Balances with banks and security investments, external loans and other external assets 228,049 −365
3 Claims on euro area residents denominated in foreign currency 29,926 705
4 Claims on non-euro area residents denominated in euro 21,548 1,644
  4.1 Balances with banks, security investments and loans 21,548 1,644
  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 535,352 −4,825
  5.1 Main refinancing operations 65,742 −4,890
  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 67 65
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 111,835 1,248
7 Securities of euro area residents denominated in euro 1,185,432 16,320
  7.1 Securities held for monetary policy purposes 829,717 17,276
  7.2 Other securities 355,715 −956
8 General government debt denominated in euro 25,145 0
9 Other assets 221,909 −3,341
Total assets 2,778,265 11,376
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 1,065,603 −8,258
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 763,679 −10,018
  2.1 Current accounts (covering the minimum reserve system) 547,534 −15,902
  2.2 Deposit facility 215,962 5,836
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 183 47
3 Other liabilities to euro area credit institutions denominated in euro 4,870 −33
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 178,371 28,932
  5.1 General government 95,387 27,921
  5.2 Other liabilities 82,984 1,011
6 Liabilities to non-euro area residents denominated in euro 38,153 −751
7 Liabilities to euro area residents denominated in foreign currency 4,490 1,679
8 Liabilities to non-euro area residents denominated in foreign currency 4,203 −901
  8.1 Deposits, balances and other liabilities 4,203 −901
  8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 59,179 0
10 Other liabilities 215,912 296
11 Revaluation accounts 346,172 0
12 Capital and reserves 97,633 429
Total liabilities 2,778,265 11,376

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