Consolidated financial statement of the Eurosystem as at 11 March 2016

15 March 2016

Items not related to monetary policy operations

In the week ending 11 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 0.5 billion to EUR 268.5 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
10 March 2016 7-day US dollar liquidity-providing reverse transaction USD 85 million USD 74 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 1.0 billion to EUR 350.5 billion. Banknotes in circulation (liability item 1) increased by EUR 0.5 billion to EUR 1,066.1 billion. Liabilities to general government (liability item 5.1) increased by EUR 5.6 billion to EUR 108.4 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 15.8 billion to EUR 255.3 billion. On Wednesday, 9 March 2016, a main refinancing operation (asset item 5.1) of EUR 61.3 billion matured and a new one of EUR 60.8 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (unchanged from last week), while recourse to the deposit facility (liability item 2.2) was EUR 262.2 billion (compared with EUR 246.8 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 14.2 billion to EUR 951.0 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 11 March 2016 Difference compared with 4 March 2016 – purchases Difference compared with 4 March 2016 – redemptions
Covered bond purchase programme 1 EUR 19.6 billion - -EUR 0.2 billion
Covered bond purchase programme 2 EUR 8.9 billion - -
Covered bond purchase programme 3 EUR 161.6 billion +EUR 1.7 billion -
Asset-backed securities purchase programme EUR 19.1 billion +EUR 0.2 billion -
Public sector purchase programme EUR 620.5 billion +EUR 12.5 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) decreased by EUR 8.2 billion to EUR 556.2 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 306,941 39
  2.1 Receivables from the IMF 79,672 −3
  2.2 Balances with banks and security investments, external loans and other external assets 227,268 42
3 Claims on euro area residents denominated in foreign currency 32,165 −397
4 Claims on non-euro area residents denominated in euro 22,109 329
  4.1 Balances with banks, security investments and loans 22,109 329
  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 517,576 −462
  5.1 Main refinancing operations 60,808 −484
  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 24 22
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 113,498 −894
7 Securities of euro area residents denominated in euro 1,301,463 13,252
  7.1 Securities held for monetary policy purposes 950,980 14,212
  7.2 Other securities 350,483 −959
8 General government debt denominated in euro 27,065 0
9 Other assets 212,792 614
Total assets 2,872,321 12,480
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 1,066,052 534
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 818,475 7,213
  2.1 Current accounts (covering the minimum reserve system) 556,176 −8,168
  2.2 Deposit facility 262,201 15,386
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 99 −4
3 Other liabilities to euro area credit institutions denominated in euro 4,776 −141
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 201,995 2,557
  5.1 General government 108,379 5,620
  5.2 Other liabilities 93,616 −3,063
6 Liabilities to non-euro area residents denominated in euro 55,732 1,249
7 Liabilities to euro area residents denominated in foreign currency 6,788 −382
8 Liabilities to non-euro area residents denominated in foreign currency 4,592 522
  8.1 Deposits, balances and other liabilities 4,592 522
  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 210,361 929
11 Revaluation accounts 346,172 0
12 Capital and reserves 98,199 0
Total liabilities 2,872,321 12,480

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