Consolidated financial statement of the Eurosystem as at 23 September 2016

27 September 2016

Items not related to monetary policy operations

In the week ending 23 September 2016 gold and gold receivables (asset item 1) increased by EUR 1 million owing to the purchase of gold coin by one Eurosystem national central bank.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) increased by EUR 2 billion to EUR 274 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
22 September 2016 7-day US dollar liquidity-providing reverse transaction - USD 290 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 1.4 billion to EUR 331.3 billion. Banknotes in circulation (liability item 1) fell by EUR 2.1 billion to EUR 1,092.2 billion. Liabilities to general government (liability item 5.1) increased by EUR 13.8 billion to EUR 171 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 4.6 billion to EUR 163.2 billion. On Wednesday, 21 September 2016, a main refinancing operation (asset item 5.1) of EUR 41.6 billion matured and a new one of EUR 43.2 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 362.8 billion (compared with EUR 365.7 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 18.1 billion to EUR 1,420.3 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 23 September 2016 Difference compared with 16 September 2016 – purchases Difference compared with 16 September 2016 – redemptions
Covered bond purchase programme 1 EUR 15.6 billion - -EUR 0.4 billion
Covered bond purchase programme 2 EUR 7.3 billion - -
Covered bond purchase programme 3 EUR 193.9 billion +EUR 1.0 billion -EUR 0.1 billion
Asset-backed securities purchase programme EUR 20.3 billion +EUR 0.2 billion -EUR 0.3 billion
Corporate sector purchase programme EUR 27.9 billion +EUR 2.3 billion -
Public sector purchase programme EUR 1,049.7 billion +EUR 15.4 billion -
Securities Markets Programme EUR 105.7 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 3.5 billion to EUR 764.4 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 413,142 1
2 Claims on non-euro area residents denominated in foreign currency 314,526 2,268
  2.1 Receivables from the IMF 77,258 −39
  2.2 Balances with banks and security investments, external loans and other external assets 237,269 2,307
3 Claims on euro area residents denominated in foreign currency 29,609 −262
4 Claims on non-euro area residents denominated in euro 17,757 770
  4.1 Balances with banks, security investments and loans 17,757 770
  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 525,976 1,624
  5.1 Main refinancing operations 43,178 1,597
  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 72 27
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 89,957 −3,973
7 Securities of euro area residents denominated in euro 1,751,574 16,742
  7.1 Securities held for monetary policy purposes 1,420,301 18,144
  7.2 Other securities 331,273 −1,402
8 General government debt denominated in euro 26,477 0
9 Other assets 222,383 1,860
Total assets 3,391,402 19,029
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 1,092,210 −2,121
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,127,196 −6,412
  2.1 Current accounts (covering the minimum reserve system) 764,395 −3,474
  2.2 Deposit facility 362,790 −2,902
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 11 −36
3 Other liabilities to euro area credit institutions denominated in euro 3,860 −10
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 273,555 14,697
  5.1 General government 171,011 13,755
  5.2 Other liabilities 102,543 942
6 Liabilities to non-euro area residents denominated in euro 93,424 9,420
7 Liabilities to euro area residents denominated in foreign currency 2,908 −118
8 Liabilities to non-euro area residents denominated in foreign currency 8,762 110
  8.1 Deposits, balances and other liabilities 8,762 110
  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 209,242 3,462
11 Revaluation accounts 420,923 0
12 Capital and reserves 100,835 0
Total liabilities 3,391,402 19,029

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