Consolidated financial statement of the Eurosystem as at 3 June 2016

7 June 2016

Items not related to monetary policy operations

In the week ending 3 June 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 0.3 billion to EUR 263.6 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
2 June 2016 7-day US dollar liquidity-providing reverse transaction USD 800 million -

The above liquidity-providing transaction was 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 347 billion. Banknotes in circulation (liability item 1) increased by EUR 4.9 billion to EUR 1,081.3 billion. Liabilities to general government (liability item 5.1) decreased by EUR 45 billion to EUR 122.6 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) decreased by EUR 47.2 billion to EUR 155.5 billion. On Wednesday, 1 June 2016, a main refinancing operation (asset item 5.1) of EUR 60.2 billion matured and a new one of EUR 51.9 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with EUR 0.3 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 347.5 billion (compared with EUR 308.8 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 18.7 billion to EUR 1,152.4 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 3 June 2016

Difference compared with

27 May 2016 – purchases

Difference compared with

27 May 2016 – redemptions

Covered bond purchase programme 1 EUR 18.5 billion - -
Covered bond purchase programme 2 EUR 8.3 billion - -
Covered bond purchase programme 3 EUR 178.4 billion +EUR 1.0 billion -
Asset-backed securities purchase programme EUR 19.2 billion +EUR 0.1 billion -
Public sector purchase programme EUR 817.0 billion +EUR 17.6 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 9 billion to EUR 620.8 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 300,558 1,580
  2.1 Receivables from the IMF 76,844 73
  2.2 Balances with banks and security investments, external loans and other external assets 223,714 1,507
3 Claims on euro area residents denominated in foreign currency 30,112 −322
4 Claims on non-euro area residents denominated in euro 18,638 271
  4.1 Balances with banks, security investments and loans 18,638 271
  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 503,218 −8,453
  5.1 Main refinancing operations 51,905 −8,298
  5.2 Longer-term refinancing operations 451,177 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 135 −156
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 108,269 155
7 Securities of euro area residents denominated in euro 1,499,354 18,483
  7.1 Securities held for monetary policy purposes 1,152,366 18,628
  7.2 Other securities 346,988 −145
8 General government debt denominated in euro 26,979 0
9 Other assets 214,208 −583
Total assets 3,078,612 11,131
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 1,081,297 4,940
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 968,510 47,679
  2.1 Current accounts (covering the minimum reserve system) 620,759 8,951
  2.2 Deposit facility 347,474 38,664
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 277 64
3 Other liabilities to euro area credit institutions denominated in euro 3,911 −245
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 223,275 −39,403
  5.1 General government 122,619 −44,978
  5.2 Other liabilities 100,655 5,575
6 Liabilities to non-euro area residents denominated in euro 56,074 −2,413
7 Liabilities to euro area residents denominated in foreign currency 3,243 393
8 Liabilities to non-euro area residents denominated in foreign currency 6,304 562
  8.1 Deposits, balances and other liabilities 6,304 562
  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 203,471 −404
11 Revaluation accounts 375,994 0
12 Capital and reserves 98,993 23
Total liabilities 3,078,612 11,131

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