Consolidated financial statement of the Eurosystem as at 22 July 2016

26 July 2016

Items not related to monetary policy operations

In the week ending 22 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 0.4 billion to EUR 271.2 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
21 July 2016 7-day US dollar liquidity-providing reverse transaction 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) remained virtually unchanged at EUR 342.3 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.3 billion to EUR 1,093.5 billion. Liabilities to general government (liability item 5.1) increased by EUR 35.5 billion to EUR 213.3 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 14 billion to EUR 210 billion. On Wednesday, 20 July 2016, a main refinancing operation (asset item 5.1) of EUR 42.5 billion matured and a new one of EUR 43.6 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (compared with virtually nil in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 320.6 billion (compared with EUR 333.3 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 17.8 billion to EUR 1,281.4 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 22 July 2016 Difference compared with 15 July 2016 – purchases Difference compared with 15 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 186.0 billion +EUR 0.9 billion -EUR 0.4 billion
Asset-backed securities purchase programme EUR 20.3 billion - -EUR 0.2 billion
Corporate sector purchase programme EUR 11.8 billion +EUR 1.4 billion -
Public sector purchase programme EUR 928.4 billion +EUR 17.5 billion -
Securities Markets Programme EUR 109.8 billion - -EUR 1.4 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 9.8 billion to EUR 664.9 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 308,584 2,674
  2.1 Receivables from the IMF 77,583 −40
  2.2 Balances with banks and security investments, external loans and other external assets 231,001 2,714
3 Claims on euro area residents denominated in foreign currency 30,585 −3,344
4 Claims on non-euro area residents denominated in euro 17,286 −606
  4.1 Balances with banks, security investments and loans 17,286 −606
  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 530,560 1,278
  5.1 Main refinancing operations 43,569 1,103
  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 192 175
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 94,411 −1,419
7 Securities of euro area residents denominated in euro 1,623,717 17,831
  7.1 Securities held for monetary policy purposes 1,281,420 17,803
  7.2 Other securities 342,297 28
8 General government debt denominated in euro 26,477 0
9 Other assets 221,076 248
Total assets 3,265,838 16,661
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 1,093,474 −330
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 985,484 −22,467
  2.1 Current accounts (covering the minimum reserve system) 664,890 −9,755
  2.2 Deposit facility 320,566 −12,718
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 27 6
3 Other liabilities to euro area credit institutions denominated in euro 3,642 17
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 309,485 34,248
  5.1 General government 213,317 35,489
  5.2 Other liabilities 96,168 −1,242
6 Liabilities to non-euro area residents denominated in euro 79,024 6,227
7 Liabilities to euro area residents denominated in foreign currency 3,029 −504
8 Liabilities to non-euro area residents denominated in foreign currency 6,406 254
  8.1 Deposits, balances and other liabilities 6,406 254
  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 205,048 −785
11 Revaluation accounts 420,923 0
12 Capital and reserves 100,836 0
Total liabilities 3,265,838 16,661

Media contacts