Consolidated financial statement of the Eurosystem as at 14 October 2016

18 October 2016

Items not related to monetary policy operations

In the week ending 14 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 1.7 billion to EUR 273.3 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
13 October 2016 7-day US dollar liquidity-providing reverse transaction USD 2.8 billion USD 0.2 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) decreased by EUR 0.2 billion to EUR 329.4 billion. Banknotes in circulation (liability item 1) fell by EUR 1 billion to EUR 1,096.2 billion. Liabilities to general government (liability item 5.1) increased by EUR 13.4 billion to EUR 171.4 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) increased by EUR 6.5 billion to EUR 145.3 billion. On Wednesday, 12 October 2016, a main refinancing operation (asset item 5.1) of EUR 34.4 billion matured and a new one of EUR 32.9 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (virtually unchanged from the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 401.5 billion (compared with EUR 409.4 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 20.8 billion to EUR 1,475.7 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 14 October 2016 Difference compared with Difference compared with
7 October 2016 – purchases 7 October 2016 – redemptions
Covered bond purchase programme 1 EUR 14.7 billion - -EUR 0.1 billion
Covered bond purchase programme 2 EUR 7.1 billion - -EUR 0.1 billion
Covered bond purchase programme 3 EUR 195.8 billion +EUR 1.0 billion -EUR 0.1 billion
Asset-backed securities purchase programme EUR 20.9 billion +EUR 0.1 billion -EUR 0.0 billion
Corporate sector purchase programme EUR 33.8 billion +EUR 1.8 billion -
Public sector purchase programme EUR 1,097.4 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 16.2 billion to EUR 793.5 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 412,633 0
2 Claims on non-euro area residents denominated in foreign currency 312,999 −657
  2.1 Receivables from the IMF 77,805 −6
  2.2 Balances with banks and security investments, external loans and other external assets 235,194 −650
3 Claims on euro area residents denominated in foreign currency 33,323 829
4 Claims on non-euro area residents denominated in euro 18,157 −800
  4.1 Balances with banks, security investments and loans 18,157 −800
  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 546,771 −1,476
  5.1 Main refinancing operations 32,886 −1,482
  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 88 6
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 88,858 −1,128
7 Securities of euro area residents denominated in euro 1,805,127 20,675
  7.1 Securities held for monetary policy purposes 1,475,741 20,842
  7.2 Other securities 329,386 −167
8 General government debt denominated in euro 26,439 0
9 Other assets 224,972 411
Total assets 3,469,281 17,854
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 1,096,249 −963
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,195,021 8,156
  2.1 Current accounts (covering the minimum reserve system) 793,526 16,161
  2.2 Deposit facility 401,478 −7,916
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 17 −89
3 Other liabilities to euro area credit institutions denominated in euro 3,481 −355
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 276,889 12,665
  5.1 General government 171,420 13,420
  5.2 Other liabilities 105,469 −755
6 Liabilities to non-euro area residents denominated in euro 97,674 −4,012
7 Liabilities to euro area residents denominated in foreign currency 5,594 1,420
8 Liabilities to non-euro area residents denominated in foreign currency 9,256 450
  8.1 Deposits, balances and other liabilities 9,256 450
  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 207,604 492
11 Revaluation accounts 418,545 0
12 Capital and reserves 100,836 0
Total liabilities 3,469,281 17,854

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