Consolidated financial statement of the Eurosystem as at 4 March 2016

8 March 2016

Items not related to monetary policy operations

In the week ending 4 March 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 0.4 billion to EUR 269 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
3 March 2016 7-day US dollar liquidity-providing reverse transaction USD 87 million USD 85 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) increased by EUR 0.1 billion to EUR 351.4 billion. Banknotes in circulation (liability item 1) increased by EUR 3 billion to EUR 1,065.5 billion. Liabilities to general government (liability item 5.1) decreased by EUR 25.3 billion to EUR 102.8 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 29 billion to EUR 271.1 billion. On Wednesday, 2 March 2016, a main refinancing operation (asset item 5.1) of EUR 65.8 billion matured and a new one of EUR 61.3 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 246.8 billion (compared with EUR 222.4 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 15.5 billion to EUR 936.8 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 4 March 2016 Difference compared with 26 February 2016 – purchases Difference compared with 26 February 2016 – redemptions
Covered bond purchase programme 1 EUR 19.8 billion - -
Covered bond purchase programme 2 EUR 8.9 billion - -
Covered bond purchase programme 3 EUR 159.9 billion +EUR 2.1 billion -EUR 0.2 billion
Asset-backed securities purchase programme EUR 18.9 billion +EUR 0.4 billion -EUR 0.1 billion
Public sector purchase programme EUR 608.0 billion +EUR 13.3 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 0.7 billion to EUR 564.3 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 306,902 −400
  2.1 Receivables from the IMF 79,675 0
  2.2 Balances with banks and security investments, external loans and other external assets 227,227 −400
3 Claims on euro area residents denominated in foreign currency 32,562 1,047
4 Claims on non-euro area residents denominated in euro 21,780 135
  4.1 Balances with banks, security investments and loans 21,780 135
  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 518,038 −4,573
  5.1 Main refinancing operations 61,291 −4,464
  5.2 Longer-term refinancing operations 456,744 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 2 −109
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 114,392 −332
7 Securities of euro area residents denominated in euro 1,288,211 15,459
  7.1 Securities held for monetary policy purposes 936,769 15,342
  7.2 Other securities 351,442 117
8 General government debt denominated in euro 27,065 0
9 Other assets 212,178 −1,794
Total assets 2,859,841 9,542
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 1,065,518 2,966
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 811,262 25,136
  2.1 Current accounts (covering the minimum reserve system) 564,344 701
  2.2 Deposit facility 246,815 24,440
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 103 −5
3 Other liabilities to euro area credit institutions denominated in euro 4,918 −128
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 199,438 −20,929
  5.1 General government 102,759 −25,282
  5.2 Other liabilities 96,680 4,353
6 Liabilities to non-euro area residents denominated in euro 54,483 2,200
7 Liabilities to euro area residents denominated in foreign currency 7,170 1,913
8 Liabilities to non-euro area residents denominated in foreign currency 4,070 −905
  8.1 Deposits, balances and other liabilities 4,070 −905
  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 209,433 −721
11 Revaluation accounts 346,172 0
12 Capital and reserves 98,199 9
Total liabilities 2,859,841 9,542

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