Consolidated financial statement of the Eurosystem as at 29 January 2016

2 February 2016

Items not related to monetary policy operations

In the week ending 29 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 0.1 billion to EUR 270.7 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
28 January 2016  7-day US dollar liquidity-providing reverse transaction USD 102 million USD 90 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 1.6 billion to EUR 353.8 billion. Banknotes in circulation (liability item 1) increased by EUR 1.1 billion to EUR 1,062.6 billion. Liabilities to general government (liability item 5.1) decreased by EUR 9.5 billion to EUR 107.9 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) decreased by EUR 15 billion to EUR 312.1 billion. On Wednesday, 27 January 2016, a main refinancing operation (asset item 5.1) of EUR 65.2 billion matured and a new one of EUR 69 billion, with a maturity of one week, was settled.

During the week, a longer-term refinancing operation (asset item 5.2) of EUR 18.1 billion matured and a new one of EUR 13.6 billion 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 221.8 billion (compared with EUR 207.4 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 17.7 billion to EUR 864.4 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 29 January 2016 Difference compared with 22 January 2016 – purchases Difference compared with 22 January 2016 – redemptions
Covered bond purchase programme 1 EUR 19.8 billion - -EUR 0.3 billion
Covered bond purchase programme 2 EUR 9.3 billion - -
Covered bond purchase programme 3 EUR 150.5 billion +EUR 2 billion -EUR 0.3 billion
Asset-backed securities purchase programme EUR 17.6 billion +EUR 1.8 billion -
Public sector purchase programme EUR 544.2 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 6.9 billion to EUR 556.5 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 305,491 −2,480
  2.1 Receivables from the IMF 80,501 109
  2.2 Balances with banks and security investments, external loans and other external assets 224,990 −2,589
3 Claims on euro area residents denominated in foreign currency 33,281 1,442
4 Claims on non-euro area residents denominated in euro 22,380 773
  4.1 Balances with banks, security investments and loans 22,380 773
  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 534,037 −725
  5.1 Main refinancing operations 68,964 3,767
  5.2 Longer-term refinancing operations 464,980 −4,564
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 94 72
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 114,141 −510
7 Securities of euro area residents denominated in euro 1,218,149 16,057
  7.1 Securities held for monetary policy purposes 864,341 17,616
  7.2 Other securities 353,808 −1,559
8 General government debt denominated in euro 25,145 0
9 Other assets 216,993 −753
Total assets 2,808,331 13,804
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 1,062,611 1,109
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 778,386 21,228
  2.1 Current accounts (covering the minimum reserve system) 556,472 6,904
  2.2 Deposit facility 221,820 14,399
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 95 −75
3 Other liabilities to euro area credit institutions denominated in euro 5,082 13
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 195,818 −9,041
  5.1 General government 107,932 −9,492
  5.2 Other liabilities 87,886 451
6 Liabilities to non-euro area residents denominated in euro 40,489 1,369
7 Liabilities to euro area residents denominated in foreign currency 5,808 −490
8 Liabilities to non-euro area residents denominated in foreign currency 3,056 −605
  8.1 Deposits, balances and other liabilities 3,056 −605
  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 214,095 220
11 Revaluation accounts 346,172 0
12 Capital and reserves 97,635 0
Total liabilities 2,808,331 13,804

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