Consolidated financial statement of the Eurosystem as at 19 August 2016

23 August 2016

Items not related to monetary policy operations

In the week ending 19 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 271.4 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
18 August 2016 7-day US dollar liquidity-providing reverse transaction USD 105.0 million USD 10.0 million

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 0.4 billion to EUR 337.2 billion. Banknotes in circulation (liability item 1) fell by EUR 3.6 billion to EUR 1,096.8 billion. Liabilities to general government (liability item 5.1) increased by EUR 16.3 billion to EUR 142.7 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 3.8 billion to EUR 166.9 billion. On Wednesday, 17 August 2016, a main refinancing operation (asset item 5.1) of EUR 41.6 billion matured and a new one of EUR 41.7 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (approximately the same as in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 358.7 billion (compared with EUR 354.8 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 13.6 billion to EUR 1,339.3 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 19 August 2016 Difference compared with 12 August 2016 – purchases Difference compared with 12 August 2016 – redemptions
Covered bond purchase programme 1 EUR 16.4 billion - -
Covered bond purchase programme 2 EUR 7.4 billion - -EUR 0.1 billion
Covered bond purchase programme 3 EUR 188.4 billion +EUR 0.7 billion -EUR 0.4 billion
Asset-backed securities purchase programme EUR 20.3 billion +EUR 0.0 billion -EUR 0.1 billion
Corporate sector purchase programme EUR 17.8 billion +EUR 1.6 billion -
Public sector purchase programme EUR 980.5 billion +EUR 11.9 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 1.6 billion to EUR 740.9 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 413,141 0
2 Claims on non-euro area residents denominated in foreign currency 308,871 1,567
  2.1 Receivables from the IMF 77,244 0
  2.2 Balances with banks and security investments, external loans and other external assets 231,627 1,567
3 Claims on euro area residents denominated in foreign currency 32,150 −1,417
4 Claims on non-euro area residents denominated in euro 17,189 63
  4.1 Balances with banks, security investments and loans 17,189 63
  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 525,660 57
  5.1 Main refinancing operations 41,652 31
  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 26 26
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 93,834 1,585
7 Securities of euro area residents denominated in euro 1,676,471 13,255
  7.1 Securities held for monetary policy purposes 1,339,256 13,641
  7.2 Other securities 337,215 −386
8 General government debt denominated in euro 26,477 0
9 Other assets 219,530 1,645
Total assets 3,313,323 16,755
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 1,096,798 −3,611
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,099,605 2,265
  2.1 Current accounts (covering the minimum reserve system) 740,892 −1,575
  2.2 Deposit facility 358,701 3,861
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 11 −22
3 Other liabilities to euro area credit institutions denominated in euro 3,874 8
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 240,896 15,901
  5.1 General government 142,725 16,330
  5.2 Other liabilities 98,172 −430
6 Liabilities to non-euro area residents denominated in euro 77,407 1,354
7 Liabilities to euro area residents denominated in foreign currency 3,052 −69
8 Liabilities to non-euro area residents denominated in foreign currency 8,072 228
  8.1 Deposits, balances and other liabilities 8,072 228
  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 203,375 680
11 Revaluation accounts 420,923 0
12 Capital and reserves 100,835 0
Total liabilities 3,313,323 16,755

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