Consolidated financial statement of the Eurosystem as at 25 March 2016

30 March 2016

Items not related to monetary policy operations

In the week ending 25 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) increased by EUR 0.9 billion to EUR 268.6 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
24 March 2016 7-day US dollar liquidity-providing reverse transaction USD 53 million USD 48 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 0.1 billion to EUR 350.1 billion. Banknotes in circulation (liability item 1) increased by EUR 6.5 billion to EUR 1,073.3 billion. Liabilities to general government (liability item 5.1) increased by EUR 28.1 billion to EUR 179.7 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 22.5 billion to EUR 292.2 billion. On Wednesday, 23 March 2016, a main refinancing operation (asset item 5.1) of EUR 59.7 billion matured and a new one of EUR 60.6 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with virtually nil in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 225.1 billion (compared with EUR 246.7 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 12.5 billion to EUR 977.7 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 25 March 2016 Difference compared with 18 March 2016 – purchases Difference compared with 18 March 2016 – redemptions
Covered bond purchase programme 1 EUR 19.4 billion - -EUR 0.2 billion
Covered bond purchase programme 2 EUR 8.8 billion - -
Covered bond purchase programme 3 EUR 165.7 billion +EUR 2.4 billion -EUR 0.1 billion
Asset-backed securities purchase programme EUR 19.3 billion +EUR 0.2 billion -EUR 0.1 billion
Public sector purchase programme EUR 643.3 billion +EUR 10.3 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 4 billion to EUR 543.2 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 309,172 1,319
  2.1 Receivables from the IMF 79,653 −3
  2.2 Balances with banks and security investments, external loans and other external assets 229,519 1,323
3 Claims on euro area residents denominated in foreign currency 27,881 −1,648
4 Claims on non-euro area residents denominated in euro 21,846 400
  4.1 Balances with banks, security investments and loans 21,846 400
  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 517,369 926
  5.1 Main refinancing operations 60,574 899
  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 51 27
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 112,130 −2,054
7 Securities of euro area residents denominated in euro 1,327,808 12,425
  7.1 Securities held for monetary policy purposes 977,742 12,520
  7.2 Other securities 350,066 −95
8 General government debt denominated in euro 27,065 0
9 Other assets 215,711 130
Total assets 2,897,696 11,497
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 1,073,293 6,487
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 768,415 −17,582
  2.1 Current accounts (covering the minimum reserve system) 543,217 4,023
  2.2 Deposit facility 225,140 −21,595
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 58 −11
3 Other liabilities to euro area credit institutions denominated in euro 4,378 −380
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 269,851 26,140
  5.1 General government 179,749 28,076
  5.2 Other liabilities 90,102 −1,936
6 Liabilities to non-euro area residents denominated in euro 56,701 −2,026
7 Liabilities to euro area residents denominated in foreign currency 4,636 −1,044
8 Liabilities to non-euro area residents denominated in foreign currency 4,659 −204
  8.1 Deposits, balances and other liabilities 4,659 −204
  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 211,927 −178
11 Revaluation accounts 346,172 0
12 Capital and reserves 98,485 286
Total liabilities 2,897,696 11,497

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