Consolidated financial statement of the Eurosystem as at 22 January 2016

26 January 2016

Items not related to monetary policy operations

In the week ending 22 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) increased by EUR 0.2 billion to EUR 270.7 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
21 January 2016  7-day US dollar liquidity-providing reverse transaction USD 125 million USD 102 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 0.3 billion to EUR 355.4 billion. Banknotes in circulation (liability item 1) decreased by EUR 4.1 billion to EUR 1,061.5 billion. Liabilities to general government (liability item 5.1) increased by EUR 22 billion to EUR 117.4 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 8 billion to EUR 327.2 billion. On Wednesday, 20 January 2016, a main refinancing operation (asset item 5.1) of EUR 65.7 billion matured and a new one of EUR 65.2 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with  EUR 0.1 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 207.4 billion (compared with EUR 216 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 billion to EUR 846.7 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 22 January 2016 Difference compared with 15 January 2016 – purchases Difference compared with 15 January 2016 – redemptions
Covered bond purchase programme 1 EUR 20.2 billion - -EUR 0.4 billion
Covered bond purchase programme 2 EUR 9.3 billion - -EUR 0.3 billion
Covered bond purchase programme 3 EUR 148.9 billion +EUR 3.3 billion -EUR 0.4 billion
Asset-backed securities purchase programme EUR 15.8 billion +EUR 0.4 billion -
Public sector purchase programme EUR 529.7 billion +EUR 14.5 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 2 billion to EUR 549.6 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 307,971 −434
  2.1 Receivables from the IMF 80,392 35
  2.2 Balances with banks and security investments, external loans and other external assets 227,580 −469
3 Claims on euro area residents denominated in foreign currency 31,839 1,913
4 Claims on non-euro area residents denominated in euro 21,607 59
  4.1 Balances with banks, security investments and loans 21,607 59
  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 534,762 −590
  5.1 Main refinancing operations 65,197 −545
  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 22 −45
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 114,651 2,816
7 Securities of euro area residents denominated in euro 1,202,092 16,660
  7.1 Securities held for monetary policy purposes 846,725 17,008
  7.2 Other securities 355,367 −348
8 General government debt denominated in euro 25,145 0
9 Other assets 217,747 −4,162
Total assets 2,794,527 16,263
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 1,061,502 −4,101
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 757,158 −6,521
  2.1 Current accounts (covering the minimum reserve system) 549,568 2,034
  2.2 Deposit facility 207,420 −8,542
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 170 −12
3 Other liabilities to euro area credit institutions denominated in euro 5,069 199
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 204,859 26,489
  5.1 General government 117,424 22,037
  5.2 Other liabilities 87,436 4,452
6 Liabilities to non-euro area residents denominated in euro 39,120 967
7 Liabilities to euro area residents denominated in foreign currency 6,299 1,809
8 Liabilities to non-euro area residents denominated in foreign currency 3,660 −543
  8.1 Deposits, balances and other liabilities 3,660 −543
  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 213,874 −2,038
11 Revaluation accounts 346,172 0
12 Capital and reserves 97,635 1
Total liabilities 2,794,527 16,263

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