Consolidated financial statement of the Eurosystem as at 29 April 2016

3 May 2016

Items not related to monetary policy operations

In the week ending 29 April 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 1.2 billion to EUR 263 billion. This change was due to the customer and portfolio transactions carried out by Eurosystem central banks during the period under review.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
28 April 2016 8-day US dollar liquidity-providing reverse transaction - USD 1,200 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 3 billion to EUR 346.3 billion. Banknotes in circulation (liability item 1) increased by EUR 5 billion to EUR 1,073.6 billion. Liabilities to general government (liability item 5.1) decreased by EUR 46.4 billion to EUR 115.8 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 30.8 billion to EUR 210.2 billion. On Wednesday, 27 April 2016, a main refinancing operation (asset item 5.1) of EUR 54 billion matured and a new one of EUR 56.3 billion, with a maturity of one week, was settled.

During the week, a longer-term refinancing operation (asset item 5.2) of EUR 13.6 billion matured and a new one of EUR 9.4 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with virtually nil in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 304.6 billion (compared with EUR 274.9 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 18.6 billion to EUR 1,060 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 29 April 2016 Difference compared with 22 April 2016 – purchases Difference compared with 22 April 2016 – redemptions
Covered bond purchase programme 1 EUR 19.1 billion - -
Covered bond purchase programme 2 EUR 8.4 billion - -EUR 0.1 billion
Covered bond purchase programme 3 EUR 172.3 billion +EUR 1.4 billion -EUR 0.2 billion
Asset-backed securities purchase programme EUR 19.0 billion - -EUR 0.1 billion
Public sector purchase programme EUR 726.5 billion +EUR 17.6 billion -
Securities Markets Programme EUR 114.7 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 15.5 billion to EUR 594.5 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 377,304 0
2 Claims on non-euro area residents denominated in foreign currency 296,542 1,779
  2.1 Receivables from the IMF 77,176 −227
  2.2 Balances with banks and security investments, external loans and other external assets 219,367 2,006
3 Claims on euro area residents denominated in foreign currency 32,318 425
4 Claims on non-euro area residents denominated in euro 17,956 −247
  4.1 Balances with banks, security investments and loans 17,956 −247
  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 514,930 −1,835
  5.1 Main refinancing operations 56,256 2,237
  5.2 Longer-term refinancing operations 458,532 −4,173
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 142 102
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 114,464 4,714
7 Securities of euro area residents denominated in euro 1,406,335 15,529
  7.1 Securities held for monetary policy purposes 1,060,027 18,553
  7.2 Other securities 346,308 −3,025
8 General government debt denominated in euro 26,979 −6
9 Other assets 213,931 −2,783
Total assets 3,000,759 17,576
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 1,073,590 5,004
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 899,320 44,510
  2.1 Current accounts (covering the minimum reserve system) 594,548 15,508
  2.2 Deposit facility 304,562 29,697
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 210 −695
3 Other liabilities to euro area credit institutions denominated in euro 3,841 −268
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 210,865 −44,998
  5.1 General government 115,779 −46,413
  5.2 Other liabilities 95,086 1,416
6 Liabilities to non-euro area residents denominated in euro 67,353 12,334
7 Liabilities to euro area residents denominated in foreign currency 4,015 843
8 Liabilities to non-euro area residents denominated in foreign currency 4,334 115
  8.1 Deposits, balances and other liabilities 4,334 115
  8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 57,542 0
10 Other liabilities 205,183 −20
11 Revaluation accounts 375,994 0
12 Capital and reserves 98,722 56
Total liabilities 3,000,759 17,576

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