Consolidated financial statement of the Eurosystem as at 26 February 2016

1 March 2016

Items not related to monetary policy operations

In the week ending 26 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 0.7 billion to EUR 269.4 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
25 February 2016  7-day US dollar liquidity-providing reverse transaction USD 88 million USD 87 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 351.3 billion. Banknotes in circulation (liability item 1) increased by EUR 0.9 billion to EUR 1,062.6 billion. Liabilities to general government (liability item 5.1) decreased by EUR 25 billion to EUR 128 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 3.1 billion to EUR 300.1 billion. On Wednesday, 24 February 2016, a main refinancing operation (asset item 5.1) of EUR 61.8 billion matured and a new one of EUR 65.8 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (approximately the same as in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 222.4 billion (compared with EUR 223.4 billion in the preceding week).

During the week, a longer-term refinancing operation (asset item 5.2) of EUR 21.8 billion matured and a new one of EUR 13.7 billion was settled.

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 13.8 billion to EUR 921.4 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 26 February 2016 Difference compared with 19 February 2016 – purchases Difference compared with 19 February 2016 – redemptions
Covered bond purchase programme 1 EUR 19.8 billion - -
Covered bond purchase programme 2 EUR 8.9 billion - -EUR 0.2 billion
Covered bond purchase programme 3 EUR 158 billion +EUR 2 billion -EUR 0.2 billion
Asset-backed securities purchase programme EUR 18.6 billion +EUR 0.2 billion -EUR 0.2 billion
Public sector purchase programme EUR 594.8 billion +EUR 12.1 billion -
Securities Markets Programme EUR 121.3 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 34.3 billion to EUR 563.6 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 307,302 2,157
  2.1 Receivables from the IMF 79,675 1,545
  2.2 Balances with banks and security investments, external loans and other external assets 227,627 612
3 Claims on euro area residents denominated in foreign currency 31,515 493
4 Claims on non-euro area residents denominated in euro 21,645 392
  4.1 Balances with banks, security investments and loans 21,645 392
  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 522,610 −4,120
  5.1 Main refinancing operations 65,755 3,956
  5.2 Longer-term refinancing operations 456,744 −8,135
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 112 59
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 114,725 481
7 Securities of euro area residents denominated in euro 1,272,752 12,793
  7.1 Securities held for monetary policy purposes 921,426 13,801
  7.2 Other securities 351,325 −1,008
8 General government debt denominated in euro 27,065 0
9 Other assets 213,972 530
Total assets 2,850,299 12,725
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 1,062,552 920
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 786,126 33,240
  2.1 Current accounts (covering the minimum reserve system) 563,643 34,290
  2.2 Deposit facility 222,375 −1,057
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 108 6
3 Other liabilities to euro area credit institutions denominated in euro 5,046 232
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 220,368 −23,363
  5.1 General government 128,041 −24,998
  5.2 Other liabilities 92,327 1,636
6 Liabilities to non-euro area residents denominated in euro 52,282 2,404
7 Liabilities to euro area residents denominated in foreign currency 5,257 1,398
8 Liabilities to non-euro area residents denominated in foreign currency 4,974 517
  8.1 Deposits, balances and other liabilities 4,974 517
  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 210,154 −2,624
11 Revaluation accounts 346,172 0
12 Capital and reserves 98,190 0
Total liabilities 2,850,299 12,725

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