Consolidated financial statement of the Eurosystem as at 18 March 2016

22 March 2016

Items not related to monetary policy operations

In the week ending 18 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 0.9 billion to EUR 267.7 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
17 March 2016 7-day US dollar liquidity-providing reverse transaction USD 74 million USD 53 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 0.3 billion to EUR 350.2 billion. Banknotes in circulation (liability item 1) increased by EUR 0.8 billion to EUR 1,066.8 billion. Liabilities to general government (liability item 5.1) increased by EUR 43.3 billion to EUR 151.7 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 14.4 billion to EUR 269.6 billion. On Wednesday, 16 March 2016, a main refinancing operation (asset item 5.1) of EUR 60.8 billion matured and a new one of EUR 59.7 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 246.7 billion (compared with EUR 262.2 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 965.2 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 18 March 2016 Difference compared with 11 March 2016 – purchases Difference compared with 11 March 2016 – redemptions
Covered bond purchase programme 1 EUR 19.6 billion - -
Covered bond purchase programme 2 EUR 8.8 billion - -EUR 0.1 billion
Covered bond purchase programme 3 EUR 163.4 billion +EUR 1.8 billion -
Asset-backed securities purchase programme EUR 19.2 billion +EUR 0.1 billion -
Public sector purchase programme EUR 632.9 billion +EUR 12.4 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 17 billion to EUR 539.2 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 307,853 912
  2.1 Receivables from the IMF 79,656 −16
  2.2 Balances with banks and security investments, external loans and other external assets 228,196 928
3 Claims on euro area residents denominated in foreign currency 29,530 −2,635
4 Claims on non-euro area residents denominated in euro 21,446 −662
  4.1 Balances with banks, security investments and loans 21,446 −662
  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 516,443 −1,132
  5.1 Main refinancing operations 59,675 −1,133
  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 0
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 114,184 686
7 Securities of euro area residents denominated in euro 1,315,383 13,920
  7.1 Securities held for monetary policy purposes 965,222 14,242
  7.2 Other securities 350,161 −322
8 General government debt denominated in euro 27,065 0
9 Other assets 215,581 2,789
Total assets 2,886,198 13,877
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 1,066,806 754
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 785,997 −32,478
  2.1 Current accounts (covering the minimum reserve system) 539,194 −16,981
  2.2 Deposit facility 246,734 −15,466
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 69 −30
3 Other liabilities to euro area credit institutions denominated in euro 4,758 −18
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 243,712 41,717
  5.1 General government 151,673 43,294
  5.2 Other liabilities 92,038 −1,578
6 Liabilities to non-euro area residents denominated in euro 58,727 2,995
7 Liabilities to euro area residents denominated in foreign currency 5,680 −1,108
8 Liabilities to non-euro area residents denominated in foreign currency 4,863 271
  8.1 Deposits, balances and other liabilities 4,863 271
  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 212,105 1,744
11 Revaluation accounts 346,172 0
12 Capital and reserves 98,199 0
Total liabilities 2,886,198 13,877

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