Consolidated financial statement of the Eurosystem as at 20 May 2016

24 May 2016

Items not related to monetary policy operations

In the week ending 20 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 0.6 billion to EUR 262.5 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
19 May 2016 7-day US dollar liquidity-providing reverse transaction USD 1,005 million 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 0.1 billion to EUR 346.9 billion. Banknotes in circulation (liability item 1) fell by EUR 2.5 billion to EUR 1,075.5 billion. Liabilities to general government (liability item 5.1) increased by EUR 48.1 billion to EUR 150.8 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) increased by EUR 0.1 billion to EUR 200.8 billion. On Wednesday, 18 May 2016, a main refinancing operation (asset item 5.1) of EUR 51.4 billion matured and a new one of EUR 49.9 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (virtually unchanged compared with the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 307.6 billion (compared with EUR 309.2 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 17.8 billion to EUR 1,113.8 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 20 May 2016

Difference compared with

13 May 2016 – purchases

Difference compared with

13 May 2016 – redemptions

Covered bond purchase programme 1 EUR 19.0 billion - -EUR 0.1 billion
Covered bond purchase programme 2 EUR 8.4 billion - -
Covered bond purchase programme 3 EUR 176.2 billion +EUR 1.5 billion -EUR 0.6 billion
Asset-backed securities purchase programme EUR 19.1 billion +EUR 0.1 billion -
Public sector purchase programme EUR 780.1 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) decreased by EUR 31.3 billion to EUR 604.1 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 0
2 Claims on non-euro area residents denominated in foreign currency 297,560 −1,147
  2.1 Receivables from the IMF 76,770 −186
  2.2 Balances with banks and security investments, external loans and other external assets 220,789 −960
3 Claims on euro area residents denominated in foreign currency 30,895 1,233
4 Claims on non-euro area residents denominated in euro 18,010 383
  4.1 Balances with banks, security investments and loans 18,010 383
  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 508,590 −1,482
  5.1 Main refinancing operations 49,947 −1,493
  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 111 11
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 117,274 2,898
7 Securities of euro area residents denominated in euro 1,460,739 17,767
  7.1 Securities held for monetary policy purposes 1,113,808 17,846
  7.2 Other securities 346,931 −79
8 General government debt denominated in euro 26,979 0
9 Other assets 216,777 1,608
Total assets 3,054,101 21,261
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 1,075,549 −2,464
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 911,931 −32,874
  2.1 Current accounts (covering the minimum reserve system) 604,106 −31,301
  2.2 Deposit facility 307,601 −1,558
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 224 −15
3 Other liabilities to euro area credit institutions denominated in euro 4,163 145
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 247,489 47,474
  5.1 General government 150,808 48,116
  5.2 Other liabilities 96,680 −642
6 Liabilities to non-euro area residents denominated in euro 62,176 3,208
7 Liabilities to euro area residents denominated in foreign currency 3,302 489
8 Liabilities to non-euro area residents denominated in foreign currency 5,098 183
  8.1 Deposits, balances and other liabilities 5,098 183
  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 211,887 5,199
11 Revaluation accounts 375,994 0
12 Capital and reserves 98,971 −98
Total liabilities 3,054,101 21,261

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