Consolidated financial statement of the Eurosystem as at 16 September 2016

20 September 2016

Items not related to monetary policy operations

In the week ending 16 September 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 0.3 billion to EUR 272 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
15 September 2016 7-day US dollar liquidity-providing reverse transaction USD 5 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 3.5 billion to EUR 332.7 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.2 billion to EUR 1,094.3 billion. Liabilities to general government (liability item 5.1) increased by EUR 28.7 billion to EUR 157.3 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 20 billion to EUR 158.6 billion. On Wednesday, 14 September 2016, a main refinancing operation (asset item 5.1) of EUR 41.8 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 (unchanged from the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 365.7 billion (compared with EUR 385.9 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 billion to EUR 1,402.2 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 16 September 2016 Difference compared with 9 September 2016 – purchases Difference compared with 9 September 2016 – redemptions
Covered bond purchase programme 1 EUR 16.0 billion - -EUR 0.4 billion
Covered bond purchase programme 2 EUR 7.3 billion - -EUR 0.2 billion
Covered bond purchase programme 3 EUR 193.0 billion +EUR 1.6 billion -EUR 0.1 billion
Asset-backed securities purchase programme EUR 20.3 billion +EUR 0.2 billion -EUR 0.0 billion
Corporate sector purchase programme EUR 25.6 billion +EUR 2.7 billion -
Public sector purchase programme EUR 1,034.3 billion +EUR 16.0 billion -
Securities Markets Programme EUR 105.7 billion - -EUR 2.7 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 9.7 billion to EUR 767.9 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 413,142 0
2 Claims on non-euro area residents denominated in foreign currency 312,259 657
  2.1 Receivables from the IMF 77,297 −8
  2.2 Balances with banks and security investments, external loans and other external assets 234,962 666
3 Claims on euro area residents denominated in foreign currency 29,871 −548
4 Claims on non-euro area residents denominated in euro 16,987 −216
  4.1 Balances with banks, security investments and loans 16,987 −216
  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 524,352 −151
  5.1 Main refinancing operations 41,581 −197
  5.2 Longer-term refinancing operations 482,726 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 45 45
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 93,930 −845
7 Securities of euro area residents denominated in euro 1,734,832 13,457
  7.1 Securities held for monetary policy purposes 1,402,157 16,979
  7.2 Other securities 332,675 −3,522
8 General government debt denominated in euro 26,477 0
9 Other assets 220,523 1,276
Total assets 3,372,373 13,631
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 1,094,331 −1,219
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,133,608 −29,827
  2.1 Current accounts (covering the minimum reserve system) 767,870 −9,669
  2.2 Deposit facility 365,691 −20,175
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 47 17
3 Other liabilities to euro area credit institutions denominated in euro 3,870 −39
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 258,857 31,077
  5.1 General government 157,257 28,684
  5.2 Other liabilities 101,601 2,393
6 Liabilities to non-euro area residents denominated in euro 84,005 11,387
7 Liabilities to euro area residents denominated in foreign currency 3,025 −30
8 Liabilities to non-euro area residents denominated in foreign currency 8,653 452
  8.1 Deposits, balances and other liabilities 8,653 452
  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 205,779 1,830
11 Revaluation accounts 420,923 0
12 Capital and reserves 100,835 0
Total liabilities 3,372,373 13,631

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