Consolidated financial statement of the Eurosystem as at 8 July 2016

12 July 2016

Items not related to monetary policy operations

In the week ending 8 July 2016 gold and gold receivables (asset item 1) increased by EUR 1 million owing to the purchase of gold coin by one Eurosystem national central bank.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 0.3 billion to EUR 275.1 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
7 July 2016 7-day US dollar liquidity-providing reverse transaction USD 1.5 billion USD 2 billion

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 2.6 billion to EUR 345.3 billion. Banknotes in circulation (liability item 1) increased by EUR 3.5 billion to EUR 1,092.1 billion. Liabilities to general government (liability item 5.1) decreased by EUR 13.4 billion to EUR 140.9 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 20.6 billion to EUR 189 billion. On Wednesday, 6 July 2016, a main refinancing operation (asset item 5.1) of EUR 53.1 billion matured and a new one of EUR 44.1 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 0.2 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 342.1 billion (compared with EUR 330.3 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 18.1 billion to EUR 1,243.7 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 8 July 2016 Difference compared with 1 July 2016 – purchases Difference compared with 1 July 2016 – redemptions
Covered bond purchase programme 1 EUR 17.5 billion - -EUR 0.4 billion
Covered bond purchase programme 2 EUR 7.6 billion - -EUR 0.1 billion
Covered bond purchase programme 3 EUR 184.1 billion +EUR 0.7 billion -EUR 0.2 billion
Asset-backed securities purchase programme EUR 20.2 billion +EUR 0.3 billion -
Corporate sector purchase programme EUR 8.5 billion +EUR 1.7 billion -
Public sector purchase programme EUR 894.6 billion +EUR 16.1 billion -
Securities Markets Programme EUR 111.2 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 4.5 billion to EUR 688.5 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 413,140 1
2 Claims on non-euro area residents denominated in foreign currency 307,759 −1,194
  2.1 Receivables from the IMF 77,642 0
  2.2 Balances with banks and security investments, external loans and other external assets 230,117 −1,194
3 Claims on euro area residents denominated in foreign currency 34,708 1,534
4 Claims on non-euro area residents denominated in euro 18,429 104
  4.1 Balances with banks, security investments and loans 18,429 104
  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 531,224 −8,809
  5.1 Main refinancing operations 44,089 −8,965
  5.2 Longer-term refinancing operations 486,799 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 336 156
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 95,314 −1,222
7 Securities of euro area residents denominated in euro 1,588,982 15,559
  7.1 Securities held for monetary policy purposes 1,243,698 18,119
  7.2 Other securities 345,284 −2,559
8 General government debt denominated in euro 26,477 −57
9 Other assets 221,887 −615
Total assets 3,237,920 5,302
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 1,092,067 3,524
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,030,681 7,278
  2.1 Current accounts (covering the minimum reserve system) 688,498 −4,549
  2.2 Deposit facility 342,124 11,779
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 59 47
3 Other liabilities to euro area credit institutions denominated in euro 3,632 −133
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 237,146 −14,059
  5.1 General government 140,852 −13,356
  5.2 Other liabilities 96,294 −703
6 Liabilities to non-euro area residents denominated in euro 79,233 8,368
7 Liabilities to euro area residents denominated in foreign currency 3,362 347
8 Liabilities to non-euro area residents denominated in foreign currency 5,504 264
  8.1 Deposits, balances and other liabilities 5,504 264
  8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 58,486 0
10 Other liabilities 206,048 −288
11 Revaluation accounts 420,923 0
12 Capital and reserves 100,836 0
Total liabilities 3,237,920 5,302

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