Consolidated financial statement of the Eurosystem as at 5 February 2016

9 February 2016

Items not related to monetary policy operations

In the week ending 5 February 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 1.9 billion to EUR 268.8 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
4 February 2016  7-day US dollar liquidity-providing reverse transaction USD 90 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 1.1 billion to EUR 352.8 billion. Banknotes in circulation (liability item 1) increased by EUR 2.4 billion to EUR 1,065 billion. Liabilities to general government (liability item 5.1) decreased by EUR 17.9 billion to EUR 90 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 18.7 billion to EUR 293.4 billion. On Wednesday, 3 February 2016, a main refinancing operation (asset item 5.1) of EUR 69 billion matured and a new one of EUR 61.2 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 232.7 billion (compared with EUR 221.8 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 14.5 billion to EUR 878.9 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 5 February 2016 Difference compared with 29 January 2016 – purchases Difference compared with 29 January 2016 – redemptions
Covered bond purchase programme 1 EUR 19.8 billion - -
Covered bond purchase programme 2 EUR 9.1 billion - -EUR 0.2 billion
Covered bond purchase programme 3 EUR 152.9 billion +EUR 2.4 billion -
Asset-backed securities purchase programme EUR 17.7 billion +EUR 0.1 billion -
Public sector purchase programme EUR 557.3 billion +EUR 13.2 billion -
Securities Markets Programme EUR 122.0 billion - -EUR 0.9 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 1.3 billion to EUR 555.2 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 304,782 −710
  2.1 Receivables from the IMF 79,293 −1,208
  2.2 Balances with banks and security investments, external loans and other external assets 225,489 498
3 Claims on euro area residents denominated in foreign currency 31,865 −1,416
4 Claims on non-euro area residents denominated in euro 22,741 361
  4.1 Balances with banks, security investments and loans 22,741 361
  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 526,227 −7,811
  5.1 Main refinancing operations 61,227 −7,737
  5.2 Longer-term refinancing operations 464,980 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 20 −74
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 113,184 −957
7 Securities of euro area residents denominated in euro 1,231,622 13,473
  7.1 Securities held for monetary policy purposes 878,871 14,531
  7.2 Other securities 352,750 −1,058
8 General government debt denominated in euro 27,065 1,920
9 Other assets 215,714 −1,279
Total assets 2,811,913 3,582
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 1,064,979 2,368
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 788,007 9,621
  2.1 Current accounts (covering the minimum reserve system) 555,172 −1,299
  2.2 Deposit facility 232,740 10,920
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 95 0
3 Other liabilities to euro area credit institutions denominated in euro 4,968 −114
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 180,809 −15,009
  5.1 General government 89,990 −17,942
  5.2 Other liabilities 90,819 2,933
6 Liabilities to non-euro area residents denominated in euro 46,514 6,025
7 Liabilities to euro area residents denominated in foreign currency 4,791 −1,017
8 Liabilities to non-euro area residents denominated in foreign currency 3,840 785
  8.1 Deposits, balances and other liabilities 3,840 785
  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 214,916 822
11 Revaluation accounts 346,172 0
12 Capital and reserves 97,737 102
Total liabilities 2,811,913 3,582

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