Consolidated financial statement of the Eurosystem as at 7 October 2016

11 October 2016

Items not related to monetary policy operations

In the week ending 7 October 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 4.4 billion to EUR 275 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
6 October 2016 7-day US dollar liquidity-providing reverse transaction USD 6.3 billion USD 2.8 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) increased by EUR 0.3 billion to EUR 329.6 billion. Banknotes in circulation (liability item 1) rose by EUR 1 billion to EUR 1,097.2 billion. Liabilities to general government (liability item 5.1) increased by EUR 2.6 billion to EUR 158 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 15.7 billion to EUR 138.7 billion. On Wednesday, 5 October 2016, a main refinancing operation (asset item 5.1) of EUR 38.7 billion matured and a new one of EUR 34.4 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 409.4 billion (compared with EUR 398 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 20.1 billion to EUR 1,454.9 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 7 October 2016

Difference compared with

30 September 2016 – purchases

Difference compared with

30 September 2016 – redemptions

Covered bond purchase programme 1 EUR 14.8 billion - -EUR 0.8 billion
Covered bond purchase programme 2 EUR 7.2 billion - -EUR 0.1 billion
Covered bond purchase programme 3 EUR 194.9 billion +EUR 0.8 billion -EUR 0.2 billion
Asset-backed securities purchase programme EUR 20.8 billion +EUR 0.1 billion -EUR 0.0 billion
Corporate sector purchase programme EUR 32.0 billion +EUR 2.2 billion -
Public sector purchase programme EUR 1,079.3 billion +EUR 18.1 billion -
Securities Markets Programme EUR 106.0 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 17.6 billion to EUR 777.4 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 412,633 0
2 Claims on non-euro area residents denominated in foreign currency 313,656 −1,539
  2.1 Receivables from the IMF 77,812 −29
  2.2 Balances with banks and security investments, external loans and other external assets 235,844 −1,510
3 Claims on euro area residents denominated in foreign currency 32,494 −1,410
4 Claims on non-euro area residents denominated in euro 18,957 −615
  4.1 Balances with banks, security investments and loans 18,957 −615
  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 548,247 −4,310
  5.1 Main refinancing operations 34,368 −4,372
  5.2 Longer-term refinancing operations 513,797 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 82 62
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 89,986 6,581
7 Securities of euro area residents denominated in euro 1,784,452 20,381
  7.1 Securities held for monetary policy purposes 1,454,899 20,114
  7.2 Other securities 329,553 267
8 General government debt denominated in euro 26,439 0
9 Other assets 224,561 −5,807
Total assets 3,451,426 13,281
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 1,097,212 957
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,186,865 28,974
  2.1 Current accounts (covering the minimum reserve system) 777,365 17,548
  2.2 Deposit facility 409,394 11,378
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 106 48
3 Other liabilities to euro area credit institutions denominated in euro 3,836 32
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 264,223 3,268
  5.1 General government 158,000 2,608
  5.2 Other liabilities 106,224 660
6 Liabilities to non-euro area residents denominated in euro 101,686 −21,162
7 Liabilities to euro area residents denominated in foreign currency 4,174 1,385
8 Liabilities to non-euro area residents denominated in foreign currency 8,805 49
  8.1 Deposits, balances and other liabilities 8,805 49
  8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 58,132 0
10 Other liabilities 207,112 −223
11 Revaluation accounts 418,545 0
12 Capital and reserves 100,835 0
Total liabilities 3,451,426 13,281

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