Consolidated financial statement of the Eurosystem as at 15 July 2016

19 July 2016

Items not related to monetary policy operations

In the week ending 15 July 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 3.4 billion to EUR 271.7 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
14 July 2016 7-day US dollar liquidity-providing reverse transaction USD 2,000 million USD 5 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 3 billion to EUR 342.3 billion. Banknotes in circulation (liability item 1) increased by EUR 1.7 billion to EUR 1,093.8 billion. Liabilities to general government (liability item 5.1) increased by EUR 37 billion to EUR 177.8 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 6.9 billion to EUR 196 billion. On Wednesday, 13 July 2016, a main refinancing operation (asset item 5.1) of EUR 44.1 billion matured and a new one of EUR 42.5 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.3 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 333.3 billion (compared with EUR 342.1 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 1,263.6 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 15 July 2016 Difference compared with 8 July 2016 – purchases Difference compared with 8 July 2016 – redemptions
Covered bond purchase programme 1 EUR 17.5 billion - -
Covered bond purchase programme 2 EUR 7.6 billion - -
Covered bond purchase programme 3 EUR 185.5 billion +EUR 1.4 billion -
Asset-backed securities purchase programme EUR 20.4 billion +EUR 0.3 billion -
Corporate sector purchase programme EUR 10.4 billion +EUR 2.0 billion -
Public sector purchase programme EUR 911.0 billion +EUR 16.3 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 13.9 billion to EUR 674.6 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 0
2 Claims on non-euro area residents denominated in foreign currency 305,910 −1,849
  2.1 Receivables from the IMF 77,622 −19
  2.2 Balances with banks and security investments, external loans and other external assets 228,288 −1,830
3 Claims on euro area residents denominated in foreign currency 33,930 −778
4 Claims on non-euro area residents denominated in euro 17,893 −536
  4.1 Balances with banks, security investments and loans 17,893 −536
  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 529,283 −1,941
  5.1 Main refinancing operations 42,467 −1,622
  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 17 −319
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 95,830 516
7 Securities of euro area residents denominated in euro 1,605,886 16,904
  7.1 Securities held for monetary policy purposes 1,263,617 19,919
  7.2 Other securities 342,269 −3,015
8 General government debt denominated in euro 26,477 0
9 Other assets 220,829 −1,058
Total assets 3,249,177 11,258
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 1,093,804 1,736
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,007,951 −22,730
  2.1 Current accounts (covering the minimum reserve system) 674,645 −13,853
  2.2 Deposit facility 333,284 −8,840
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 21 −37
3 Other liabilities to euro area credit institutions denominated in euro 3,626 −7
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 275,238 38,092
  5.1 General government 177,828 36,975
  5.2 Other liabilities 97,410 1,116
6 Liabilities to non-euro area residents denominated in euro 72,797 −6,436
7 Liabilities to euro area residents denominated in foreign currency 3,533 170
8 Liabilities to non-euro area residents denominated in foreign currency 6,152 648
  8.1 Deposits, balances and other liabilities 6,152 648
  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 205,833 −215
11 Revaluation accounts 420,923 0
12 Capital and reserves 100,836 0
Total liabilities 3,249,177 11,258

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