Consolidated financial statement of the Eurosystem as at 13 May 2016

17 May 2016

Items not related to monetary policy operations

In the week ending 13 May 2016 gold and gold receivables (asset item 1) decreased by EUR 28 million owing to the sale of gold by one Eurosystem national central bank for the purpose of producing a commemorative coin.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) increased by EUR 0.5 billion to EUR 263.1 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
12 May 2016 7-day US dollar liquidity-providing reverse transaction - USD 1,005 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 0.7 billion to EUR 347 billion. Banknotes in circulation (liability item 1) increased by EUR 0.3 billion to EUR 1,078 billion. Liabilities to general government (liability item 5.1) increased by EUR 17.6 billion to EUR 102.7 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 4.1 billion to EUR 200.7 billion. On Wednesday, 11 May 2016, a main refinancing operation (asset item 5.1) of EUR 53.5 billion matured and a new one of EUR 51.4 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 EUR 0.3 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 309.2 billion (compared with EUR 315.6 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 18.3 billion to EUR 1,096 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 13 May 2016

Difference compared with

6 May 2016 – purchases

Difference compared with

6 May 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 175.3 billion +EUR 1.8 billion -EUR 0.5 billion
Asset-backed securities purchase programme EUR 19.0 billion - -
Public sector purchase programme EUR 763.2 billion +EUR 16.9 billion -
Securities Markets Programme EUR 111.0 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 2 billion to EUR 635.4 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 377,277 −28
2 Claims on non-euro area residents denominated in foreign currency 298,707 547
  2.1 Receivables from the IMF 76,957 −59
  2.2 Balances with banks and security investments, external loans and other external assets 221,750 606
3 Claims on euro area residents denominated in foreign currency 29,662 703
4 Claims on non-euro area residents denominated in euro 17,627 113
  4.1 Balances with banks, security investments and loans 17,627 113
  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 510,072 −2,297
  5.1 Main refinancing operations 51,440 −2,109
  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 100 −188
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 114,376 −3,180
7 Securities of euro area residents denominated in euro 1,442,972 17,562
  7.1 Securities held for monetary policy purposes 1,095,963 18,258
  7.2 Other securities 347,010 −697
8 General government debt denominated in euro 26,979 0
9 Other assets 215,168 1,631
Total assets 3,032,840 15,051
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 1,078,013 348
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 944,805 −4,435
  2.1 Current accounts (covering the minimum reserve system) 635,407 1,996
  2.2 Deposit facility 309,159 −6,461
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 239 31
3 Other liabilities to euro area credit institutions denominated in euro 4,018 171
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 200,014 18,034
  5.1 General government 102,692 17,641
  5.2 Other liabilities 97,322 393
6 Liabilities to non-euro area residents denominated in euro 58,968 1,979
7 Liabilities to euro area residents denominated in foreign currency 2,813 35
8 Liabilities to non-euro area residents denominated in foreign currency 4,915 713
  8.1 Deposits, balances and other liabilities 4,915 713
  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 206,688 −1,841
11 Revaluation accounts 375,994 0
12 Capital and reserves 99,069 47
Total liabilities 3,032,840 15,051

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