Consolidated financial statement of the Eurosystem as at 21 October 2016

25 October 2016

Items not related to monetary policy operations

In the week ending 21 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) increased by EUR 2.7 billion to EUR 276.1 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
20 October 2016 7-day US dollar liquidity-providing reverse transaction USD 0.2 billion USD 3.5 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 0.1 billion to EUR 329.3 billion. Banknotes in circulation (liability item 1) fell by EUR 1.1 billion to EUR 1,095.1 billion. Liabilities to general government (liability item 5.1) increased by EUR 21.3 billion to EUR 192.8 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 4.9 billion to EUR 150.2 billion. On Wednesday, 19 October 2016, a main refinancing operation (asset item 5.1) of EUR 32.9 billion matured and a new one of EUR 33.4 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.1 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 397 billion (compared with EUR 401.5 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 1,492.7 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 21 October 2016

Difference compared with

14 October 2016 – purchases

Difference compared with

14 October 2016 – redemptions

Covered bond purchase programme 1 EUR 14.3 billion - -EUR 0.4 billion
Covered bond purchase programme 2 EUR 7.1 billion - -
Covered bond purchase programme 3 EUR 196.5 billion +EUR 1.0 billion -EUR 0.3 billion
Asset-backed securities purchase programme EUR 21.3 billion +EUR 0.5 billion -EUR 0.1 billion
Corporate sector purchase programme EUR 35.9 billion +EUR 2.1 billion -
Public sector purchase programme EUR 1,113.9 billion +EUR 16.5 billion -
Securities Markets Programme EUR 103.7 billion - -EUR 2.2 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 12.3 billion to EUR 781.2 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 313,095 96
  2.1 Receivables from the IMF 77,805 0
  2.2 Balances with banks and security investments, external loans and other external assets 235,289 96
3 Claims on euro area residents denominated in foreign currency 35,276 1,953
4 Claims on non-euro area residents denominated in euro 18,460 303
  4.1 Balances with banks, security investments and loans 18,460 303
  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 547,263 492
  5.1 Main refinancing operations 33,428 542
  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 38 −50
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 91,736 2,878
7 Securities of euro area residents denominated in euro 1,822,002 16,874
  7.1 Securities held for monetary policy purposes 1,492,707 16,966
  7.2 Other securities 329,295 −91
8 General government debt denominated in euro 26,439 0
9 Other assets 228,025 3,053
Total assets 3,494,929 25,648
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 1,095,101 −1,147
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,178,283 −16,738
  2.1 Current accounts (covering the minimum reserve system) 781,235 −12,291
  2.2 Deposit facility 397,040 −4,438
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 7 −10
3 Other liabilities to euro area credit institutions denominated in euro 3,563 81
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 304,036 27,147
  5.1 General government 192,755 21,335
  5.2 Other liabilities 111,281 5,812
6 Liabilities to non-euro area residents denominated in euro 106,070 8,396
7 Liabilities to euro area residents denominated in foreign currency 4,607 −987
8 Liabilities to non-euro area residents denominated in foreign currency 9,560 304
  8.1 Deposits, balances and other liabilities 9,560 304
  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 216,197 8,592
11 Revaluation accounts 418,545 0
12 Capital and reserves 100,836 0
Total liabilities 3,494,929 25,648

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