Consolidated financial statement of the Eurosystem as at 6 May 2016

10 May 2016

Items not related to monetary policy operations

In the week ending 6 May 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 262.6 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
6 May 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) increased by EUR 1.4 billion to EUR 347.7 billion. Banknotes in circulation (liability item 1) increased by EUR 4.1 billion to EUR 1,077.7 billion. Liabilities to general government (liability item 5.1) decreased by EUR 30.7 billion to EUR 85.1 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 13.6 billion to EUR 196.5 billion. On Wednesday, 4 May 2016, a main refinancing operation (asset item 5.1) of EUR 56.3 billion matured and a new one of EUR 53.5 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.3 billion (compared with EUR 0.1 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 315.6 billion (compared with EUR 304.6 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 17.7 billion to EUR 1,077.7 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 6 May 2016 Difference compared with 29 April 2016 – purchases Difference compared with 29 April 2016 – redemptions
Covered bond purchase programme 1 EUR 19.1 billion - -
Covered bond purchase programme 2 EUR 8.4 billion - -
Covered bond purchase programme 3 EUR 174.0 billion +EUR 1.7 billion -
Asset-backed securities purchase programme EUR 18.9 billion - -EUR 0.1 billion
Public sector purchase programme EUR 746.3 billion +EUR 19.8 billion -
Securities Markets Programme EUR 111.0 billion - -EUR 3.7 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 38.9 billion to EUR 633.4 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 377,305 0
2 Claims on non-euro area residents denominated in foreign currency 298,159 1,617
  2.1 Receivables from the IMF 77,016 −160
  2.2 Balances with banks and security investments, external loans and other external assets 221,144 1,777
3 Claims on euro area residents denominated in foreign currency 28,959 −3,358
4 Claims on non-euro area residents denominated in euro 17,515 −441
  4.1 Balances with banks, security investments and loans 17,515 −441
  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 512,369 −2,561
  5.1 Main refinancing operations 53,549 −2,708
  5.2 Longer-term refinancing operations 458,532 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 288 146
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 117,556 3,092
7 Securities of euro area residents denominated in euro 1,425,410 19,076
  7.1 Securities held for monetary policy purposes 1,077,704 17,677
  7.2 Other securities 347,706 1,398
8 General government debt denominated in euro 26,979 0
9 Other assets 213,538 −393
Total assets 3,017,789 17,030
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 1,077,665 4,075
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 949,240 49,920
  2.1 Current accounts (covering the minimum reserve system) 633,412 38,864
  2.2 Deposit facility 315,621 11,059
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 207 −3
3 Other liabilities to euro area credit institutions denominated in euro 3,848 6
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 181,981 −28,885
  5.1 General government 85,051 −30,728
  5.2 Other liabilities 96,929 1,843
6 Liabilities to non-euro area residents denominated in euro 56,990 −10,363
7 Liabilities to euro area residents denominated in foreign currency 2,778 −1,238
8 Liabilities to non-euro area residents denominated in foreign currency 4,203 −131
  8.1 Deposits, balances and other liabilities 4,203 −131
  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 208,529 3,346
11 Revaluation accounts 375,994 0
12 Capital and reserves 99,022 300
Total liabilities 3,017,789 17,030

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