Consolidated financial statement of the Eurosystem as at 12 February 2016

16 February 2016

Items not related to monetary policy operations

In the week ending 12 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) increased by EUR 0.5 billion to EUR 269.3 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
11 February 2016  7-day US dollar liquidity-providing reverse transaction USD 90 million USD 98 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 0.6 billion to EUR 352.2 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.9 billion to EUR 1,064.1 billion. Liabilities to general government (liability item 5.1) increased by EUR 15.9 billion to EUR 105.9 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) increased by EUR 11.9 billion to EUR 305.3 billion. On Wednesday, 10 February 2016, a main refinancing operation (asset item 5.1) of EUR 61.2 billion matured and a new one of EUR 60.2 billion, with a maturity of one week, was settled.

During the week, EUR 0.1 billion of a longer-term refinancing operation (asset item 5.2) was repaid before maturity.

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 219.7 billion (compared with EUR 232.7 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 15 billion to EUR 893.9 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 12 February 2016 Difference compared with 5 February 2016 – purchases Difference compared with 5 February 2016 – redemptions
Covered bond purchase programme 1 EUR 19.8 billion - -
Covered bond purchase programme 2 EUR 9.1 billion - -EUR 0.1 billion
Covered bond purchase programme 3 EUR 155.1 billion +EUR 2.2 billion -
Asset-backed securities purchase programme EUR 17.8 billion +EUR 0.1 billion -
Public sector purchase programme EUR 570.0 billion +EUR 12.7 billion -
Securities Markets Programme EUR 122.0 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 7.1 billion to EUR 562.3 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 304,491 −290
  2.1 Receivables from the IMF 78,634 −659
  2.2 Balances with banks and security investments, external loans and other external assets 225,857 369
3 Claims on euro area residents denominated in foreign currency 31,992 127
4 Claims on non-euro area residents denominated in euro 22,331 −410
  4.1 Balances with banks, security investments and loans 22,331 −410
  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 525,104 −1,123
  5.1 Main refinancing operations 60,200 −1,027
  5.2 Longer-term refinancing operations 464,880 −100
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 24 4
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 115,873 2,689
7 Securities of euro area residents denominated in euro 1,246,061 14,440
  7.1 Securities held for monetary policy purposes 893,897 15,026
  7.2 Other securities 352,164 −586
8 General government debt denominated in euro 27,065 0
9 Other assets 215,973 259
Total assets 2,827,603 15,690
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 1,064,110 −869
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 782,066 −5,941
  2.1 Current accounts (covering the minimum reserve system) 562,296 7,123
  2.2 Deposit facility 219,673 −13,067
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 97 2
3 Other liabilities to euro area credit institutions denominated in euro 4,851 −117
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 196,090 15,282
  5.1 General government 105,939 15,949
  5.2 Other liabilities 90,152 −667
6 Liabilities to non-euro area residents denominated in euro 52,326 5,812
7 Liabilities to euro area residents denominated in foreign currency 3,635 −1,156
8 Liabilities to non-euro area residents denominated in foreign currency 4,321 480
  8.1 Deposits, balances and other liabilities 4,321 480
  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 216,661 1,745
11 Revaluation accounts 346,172 0
12 Capital and reserves 98,192 456
Total liabilities 2,827,603 15,690

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