Consolidated financial statement of the Eurosystem as at 12 August 2016

16 August 2016

Items not related to monetary policy operations

In the week ending 12 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) decreased by EUR 0.4 billion to EUR 271.4 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
11 August 2016 7-day US dollar liquidity-providing reverse transaction USD 0.6 billion USD 0.1 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) remained virtually unchanged at EUR 337.6 billion. Banknotes in circulation (liability item 1) increased by EUR 1.2 billion to EUR 1,100.4 billion. Liabilities to general government (liability item 5.1) increased by EUR 15.2 billion to EUR 126.4 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 15.6 billion to EUR 170.7 billion. On Wednesday, 10 August 2016, a main refinancing operation (asset item 5.1) of EUR 43 billion matured and a new one of EUR 41.6 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 0.1 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 354.8 billion (compared with EUR 340.7 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 13.3 billion to EUR 1,325.6 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 12 August 2016 Difference compared with 5 August 2016 – purchases Difference compared with 5 August 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 188.0 billion +EUR 0.7 billion -
Asset-backed securities purchase programme EUR 20.4 billion - -
Corporate sector purchase programme EUR 16.2 billion +EUR 1.2 billion -
Public sector purchase programme EUR 968.6 billion +EUR 11.4 billion -
Securities Markets Programme EUR 108.4 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 11.2 billion to EUR 742.5 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 413,141 0
2 Claims on non-euro area residents denominated in foreign currency 307,304 −1,128
  2.1 Receivables from the IMF 77,244 −5
  2.2 Balances with banks and security investments, external loans and other external assets 230,060 −1,123
3 Claims on euro area residents denominated in foreign currency 33,567 672
4 Claims on non-euro area residents denominated in euro 17,126 524
  4.1 Balances with banks, security investments and loans 17,126 524
  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 525,603 −1,481
  5.1 Main refinancing operations 41,621 −1,368
  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 0 −113
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 92,249 −860
7 Securities of euro area residents denominated in euro 1,663,216 13,226
  7.1 Securities held for monetary policy purposes 1,325,615 13,266
  7.2 Other securities 337,601 −39
8 General government debt denominated in euro 26,477 0
9 Other assets 217,885 −523
Total assets 3,296,568 10,429
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 1,100,410 1,181
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,097,340 2,898
  2.1 Current accounts (covering the minimum reserve system) 742,466 −11,208
  2.2 Deposit facility 354,840 14,090
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 33 16
3 Other liabilities to euro area credit institutions denominated in euro 3,865 225
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 224,995 16,056
  5.1 General government 126,394 15,167
  5.2 Other liabilities 98,601 889
6 Liabilities to non-euro area residents denominated in euro 76,053 −7,771
7 Liabilities to euro area residents denominated in foreign currency 3,121 −45
8 Liabilities to non-euro area residents denominated in foreign currency 7,845 −51
  8.1 Deposits, balances and other liabilities 7,845 −51
  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 202,695 −2,065
11 Revaluation accounts 420,923 0
12 Capital and reserves 100,835 0
Total liabilities 3,296,568 10,429

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