Consolidated financial statement of the Eurosystem as at 28 October 2016

1 November 2016

Items not related to monetary policy operations

In the week ending 28 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 274.3 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
27 October 2016 7-day US dollar liquidity-providing reverse transaction USD 3.5 billion USD 1 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 1.8 billion to EUR 327.5 billion. Banknotes in circulation (liability item 1) rose by EUR 5.2 billion to EUR 1,100.3 billion. Liabilities to general government (liability item 5.1) decreased by EUR 6.6 billion to EUR 186.2 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 13.7 billion to EUR 163.9 billion. On Wednesday, 26 October 2016, a main refinancing operation (asset item 5.1) of EUR 33.4 billion matured and a new one of EUR 36 billion, with a maturity of six days, was settled.

During the week, a longer-term refinancing operation (asset item 5.2) of EUR 7 billion matured and a new one of EUR 5.4 billion 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 384.4 billion (compared with EUR 397 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 20.3 billion to EUR 1,513 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 28 October 2016

Difference compared with

21 October 2016 – purchases

Difference compared with

21 October 2016 – redemptions

Covered bond purchase programme 1 EUR 14.1 billion - -EUR 0.2 billion
Covered bond purchase programme 2 EUR 7.1 billion - -
Covered bond purchase programme 3 EUR 197.6 billion +EUR 1.2 billion -EUR 0.0 billion
Asset-backed securities purchase programme EUR 21.5 billion +EUR 0.6 billion -EUR 0.4 billion
Corporate sector purchase programme EUR 37.8 billion +EUR 1.9 billion -
Public sector purchase programme EUR 1,131.1 billion +EUR 17.2 billion -
Securities Markets Programme EUR 103.7 billion - -EUR 0.0 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 31.6 billion to EUR 812.8 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 412,634 0
2 Claims on non-euro area residents denominated in foreign currency 311,468 −1,627
  2.1 Receivables from the IMF 78,333 528
  2.2 Balances with banks and security investments, external loans and other external assets 233,134 −2,155
3 Claims on euro area residents denominated in foreign currency 36,148 872
4 Claims on non-euro area residents denominated in euro 17,941 −518
  4.1 Balances with banks, security investments and loans 17,941 −518
  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 548,298 1,035
  5.1 Main refinancing operations 36,027 2,598
  5.2 Longer-term refinancing operations 512,214 −1,583
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 58 20
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 93,947 2,211
7 Securities of euro area residents denominated in euro 1,840,430 18,428
  7.1 Securities held for monetary policy purposes 1,512,957 20,250
  7.2 Other securities 327,472 −1,822
8 General government debt denominated in euro 26,439 0
9 Other assets 220,097 −7,928
Total assets 3,507,401 12,473
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 1,100,281 5,179
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,197,236 18,954
  2.1 Current accounts (covering the minimum reserve system) 812,839 31,604
  2.2 Deposit facility 384,365 −12,675
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 32 25
3 Other liabilities to euro area credit institutions denominated in euro 3,405 −158
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 290,456 −13,580
  5.1 General government 186,183 −6,571
  5.2 Other liabilities 104,272 −7,009
6 Liabilities to non-euro area residents denominated in euro 108,225 2,155
7 Liabilities to euro area residents denominated in foreign currency 5,494 887
8 Liabilities to non-euro area residents denominated in foreign currency 9,655 95
  8.1 Deposits, balances and other liabilities 9,655 95
  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 215,137 −1,059
11 Revaluation accounts 418,545 0
12 Capital and reserves 100,836 0
Total liabilities 3,507,401 12,473

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