Consolidated financial statement of the Eurosystem as at 29 July 2016

2 August 2016

Items not related to monetary policy operations

In the week ending 29 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) increased by EUR 0.5 billion to EUR 271.8 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
28 July 2016 7-day US dollar liquidity-providing reverse transaction - USD 0.8 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 1.7 billion to EUR 340.6 billion. Banknotes in circulation (liability item 1) increased by EUR 3.5 billion to EUR 1,097 billion. Liabilities to general government (liability item 5.1) decreased by EUR 34 billion to EUR 179.4 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 7.6 billion to EUR 202.4 billion. On Wednesday, 27 July 2016, a main refinancing operation (asset item 5.1) of EUR 43.6 billion matured and a new one of EUR 49.6 billion, with a maturity of one week, was settled.

During the week, a longer-term refinancing operation (asset item 5.2) of EUR 9.4 billion matured and a new one of EUR 7 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.2 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 331.2 billion (compared with EUR 320.6 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 17.4 billion to EUR 1,298.8 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 29 July 2016 Difference compared with 22 July 2016 – purchases Difference compared with 22 July 2016 – redemptions
Covered bond purchase programme 1 EUR 16.4 billion - -EUR 1.1 billion
Covered bond purchase programme 2 EUR 7.5 billion - -EUR 0.0 billion
Covered bond purchase programme 3 EUR 186.6 billion +EUR 1.0 billion -EUR 0.4 billion
Asset-backed securities purchase programme EUR 20.4 billion +EUR 0.3 billion -EUR 0.2 billion
Corporate sector purchase programme EUR 13.2 billion +EUR 1.4 billion -
Public sector purchase programme EUR 944.9 billion +EUR 16.4 billion -
Securities Markets Programme EUR 109.8 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 33.5 billion to EUR 698.4 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 413,141 0
2 Claims on non-euro area residents denominated in foreign currency 307,558 −1,026
  2.1 Receivables from the IMF 77,423 −159
  2.2 Balances with banks and security investments, external loans and other external assets 230,135 −866
3 Claims on euro area residents denominated in foreign currency 33,157 2,572
4 Claims on non-euro area residents denominated in euro 17,505 219
  4.1 Balances with banks, security investments and loans 17,505 219
  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 533,619 3,058
  5.1 Main refinancing operations 49,593 6,024
  5.2 Longer-term refinancing operations 483,982 −2,817
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 44 −148
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 94,005 −406
7 Securities of euro area residents denominated in euro 1,639,382 15,665
  7.1 Securities held for monetary policy purposes 1,298,808 17,388
  7.2 Other securities 340,574 −1,723
8 General government debt denominated in euro 26,477 0
9 Other assets 219,464 −1,612
Total assets 3,284,309 18,471
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 1,096,974 3,500
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,029,691 44,207
  2.1 Current accounts (covering the minimum reserve system) 698,426 33,536
  2.2 Deposit facility 331,245 10,679
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 20 −7
3 Other liabilities to euro area credit institutions denominated in euro 3,649 7
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 277,028 −32,457
  5.1 General government 179,356 −33,961
  5.2 Other liabilities 97,673 1,504
6 Liabilities to non-euro area residents denominated in euro 82,965 3,942
7 Liabilities to euro area residents denominated in foreign currency 3,073 44
8 Liabilities to non-euro area residents denominated in foreign currency 7,391 985
  8.1 Deposits, balances and other liabilities 7,391 985
  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 203,294 −1,754
11 Revaluation accounts 420,923 0
12 Capital and reserves 100,834 −2
Total liabilities 3,284,309 18,471

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