Consolidated financial statement of the Eurosystem as at 27 May 2016

31 May 2016

Items not related to monetary policy operations

In the week ending 27 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) increased by EUR 0.8 billion to EUR 263.3 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
26 May 2016 7-day US dollar liquidity-providing reverse transaction USD 1,005 million USD 800 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 0.2 billion to EUR 347.1 billion. Banknotes in circulation (liability item 1) rose by EUR 0.8 billion to EUR 1,076.4 billion. Liabilities to general government (liability item 5.1) increased by EUR 16.8 billion to EUR 167.6 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 1.9 billion to EUR 202.6 billion. On Wednesday, 25 May 2016, a main refinancing operation (asset item 5.1) of EUR 49.9 billion matured and a new one of EUR 60.2 billion, with a maturity of one week, was settled.

During the week, a longer-term refinancing operation (asset item 5.2) of EUR 13.7 billion matured and a new one of EUR 6.3 billion 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 308.8 billion (compared with EUR 307.6 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 19.9 billion to EUR 1,133.7 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 27 May 2016

Difference compared with

20 May 2016 – purchases

Difference compared with

20 May 2016 – redemptions

Covered bond purchase programme 1 EUR 18.5 billion - -EUR 0.5 billion
Covered bond purchase programme 2 EUR 8.3 billion - -EUR 0.1 billion
Covered bond purchase programme 3 EUR 177.4 billion +EUR 1.4 billion -EUR 0.2 billion
Asset-backed securities purchase programme EUR 19.1 billion +EUR 0.2 billion -EUR 0.2 billion
Public sector purchase programme EUR 799.4 billion +EUR 19.3 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 7.7 billion to EUR 611.8 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 298,978 1,418
  2.1 Receivables from the IMF 76,770 0
  2.2 Balances with banks and security investments, external loans and other external assets 222,207 1,418
3 Claims on euro area residents denominated in foreign currency 30,434 −461
4 Claims on non-euro area residents denominated in euro 18,367 358
  4.1 Balances with banks, security investments and loans 18,367 358
  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 511,671 3,081
  5.1 Main refinancing operations 60,203 10,256
  5.2 Longer-term refinancing operations 451,177 −7,355
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 291 180
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 108,114 −9,160
7 Securities of euro area residents denominated in euro 1,480,871 20,132
  7.1 Securities held for monetary policy purposes 1,133,738 19,930
  7.2 Other securities 347,133 202
8 General government debt denominated in euro 26,979 0
9 Other assets 214,790 −1,986
Total assets 3,067,481 13,381
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 1,076,357 808
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 920,831 8,900
  2.1 Current accounts (covering the minimum reserve system) 611,809 7,703
  2.2 Deposit facility 308,809 1,208
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 213 −11
3 Other liabilities to euro area credit institutions denominated in euro 4,155 −8
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 262,678 15,189
  5.1 General government 167,598 16,789
  5.2 Other liabilities 95,080 −1,600
6 Liabilities to non-euro area residents denominated in euro 58,487 −3,689
7 Liabilities to euro area residents denominated in foreign currency 2,850 −452
8 Liabilities to non-euro area residents denominated in foreign currency 5,742 644
  8.1 Deposits, balances and other liabilities 5,742 644
  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 203,875 −8,011
11 Revaluation accounts 375,994 0
12 Capital and reserves 98,971 0
Total liabilities 3,067,481 13,381

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