Consolidated financial statement of the Eurosystem as at 5 August 2016

9 August 2016

Items not related to monetary policy operations

In the week ending 5 August 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) remained virtually unchanged at EUR 271.8 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
4 August 2016 7-day US dollar liquidity-providing reverse transaction USD 0.8 billion USD 0.6 billion

The above liquidity-providing transactions were 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 2.9 billion to EUR 337.6 billion. Banknotes in circulation (liability item 1) increased by EUR 2.3 billion to EUR 1,099.2 billion. Liabilities to general government (liability item 5.1) decreased by EUR 68.1 billion to EUR 111.2 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 16 billion to EUR 186.3 billion. On Wednesday, 3 August 2016, a main refinancing operation (asset item 5.1) of EUR 49.6 billion matured and a new one of EUR 43 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 virtually nil in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 340.7 billion (compared with EUR 331.2 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 13.5 billion to EUR 1,312.3 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 5 August 2016 Difference compared with 29 July 2016 – purchases Difference compared with 29 July 2016 – redemptions
Covered bond purchase programme 1 EUR 16.4 billion - -
Covered bond purchase programme 2 EUR 7.5 billion - -
Covered bond purchase programme 3 EUR 187.4 billion +EUR 0.7 billion -
Asset-backed securities purchase programme EUR 20.4 billion +EUR 0.1 billion -EUR 0.1 billion
Corporate sector purchase programme EUR 15.0 billion +EUR 1.8 billion -
Public sector purchase programme EUR 957.3 billion +EUR 12.4 billion -
Securities Markets Programme EUR 108.4 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) increased by EUR 55.2 billion to EUR 753.7 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 308,432 873
  2.1 Receivables from the IMF 77,249 −174
  2.2 Balances with banks and security investments, external loans and other external assets 231,183 1,048
3 Claims on euro area residents denominated in foreign currency 32,896 −261
4 Claims on non-euro area residents denominated in euro 16,602 −903
  4.1 Balances with banks, security investments and loans 16,602 −903
  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 527,084 −6,535
  5.1 Main refinancing operations 42,989 −6,604
  5.2 Longer-term refinancing operations 483,982 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 113 69
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 93,110 −895
7 Securities of euro area residents denominated in euro 1,649,989 10,608
  7.1 Securities held for monetary policy purposes 1,312,349 13,542
  7.2 Other securities 337,640 −2,934
8 General government debt denominated in euro 26,477 0
9 Other assets 218,408 −1,056
Total assets 3,286,139 1,830
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 1,099,228 2,254
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,094,442 64,751
  2.1 Current accounts (covering the minimum reserve system) 753,675 55,248
  2.2 Deposit facility 340,750 9,505
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 17 −2
3 Other liabilities to euro area credit institutions denominated in euro 3,640 −9
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 208,939 −68,089
  5.1 General government 111,227 −68,129
  5.2 Other liabilities 97,712 39
6 Liabilities to non-euro area residents denominated in euro 83,824 858
7 Liabilities to euro area residents denominated in foreign currency 3,166 93
8 Liabilities to non-euro area residents denominated in foreign currency 7,896 505
  8.1 Deposits, balances and other liabilities 7,896 505
  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 204,760 1,467
11 Revaluation accounts 420,923 0
12 Capital and reserves 100,834 0
Total liabilities 3,286,139 1,830

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