Consolidated financial statement of the Eurosystem as at 4 November 2016

8 November 2016

Items not related to monetary policy operations

In the week ending 4 November 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) remained unchanged at EUR 274.4 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
3 November 2016 7-day US dollar liquidity-providing reverse transaction USD 1 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 2.3 billion to EUR 325.1 billion. Banknotes in circulation (liability item 1) increased by EUR 2.2 billion to EUR 1,102.5 billion. Liabilities to general government (liability item 5.1) decreased by EUR 49.9 billion to EUR 136.3 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 74.4 billion to EUR 89.5 billion. On Tuesday, 1 November 2016, a main refinancing operation (asset item 5.1) of EUR 36 billion matured and a new one of EUR 32.7 billion, with a maturity of eight days, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (compared with EUR 0.1 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 455.6 billion (compared with EUR 384.4 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 18.5 billion to EUR 1,531.4 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 4 November 2016

Difference compared with

28 October 2016 – purchases

Difference compared with

28 October 2016 – redemptions

Covered bond purchase programme 1 EUR 13.8 billion - -EUR 0.3 billion
Covered bond purchase programme 2 EUR 7.0 billion - -EUR 0.1 billion
Covered bond purchase programme 3 EUR 198.7 billion +EUR 1.2 billion -EUR 0.2 billion
Asset-backed securities purchase programme EUR 21.3 billion +EUR 0.1 billion -EUR 0.3 billion
Corporate sector purchase programme EUR 40.4 billion +EUR 2.5 billion -
Public sector purchase programme EUR 1,148.3 billion +EUR 17.1 billion -
Securities Markets Programme EUR 102.0 billion - -EUR 1.7 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 11.7 billion to EUR 801.1 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 312,850 1,383
  2.1 Receivables from the IMF 78,166 −168
  2.2 Balances with banks and security investments, external loans and other external assets 234,685 1,550
3 Claims on euro area residents denominated in foreign currency 36,127 −21
4 Claims on non-euro area residents denominated in euro 17,567 −374
  4.1 Balances with banks, security investments and loans 17,567 −374
  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 545,147 −3,151
  5.1 Main refinancing operations 32,728 −3,299
  5.2 Longer-term refinancing operations 512,214 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 206 148
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 91,828 −2,119
7 Securities of euro area residents denominated in euro 1,856,570 16,140
  7.1 Securities held for monetary policy purposes 1,531,423 18,466
  7.2 Other securities 325,147 −2,325
8 General government debt denominated in euro 26,439 0
9 Other assets 219,292 −804
Total assets 3,518,455 11,053
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 1,102,489 2,208
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,256,720 59,484
  2.1 Current accounts (covering the minimum reserve system) 801,122 −11,717
  2.2 Deposit facility 455,571 71,206
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 27 −5
3 Other liabilities to euro area credit institutions denominated in euro 3,546 142
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 241,571 −48,884
  5.1 General government 136,254 −49,929
  5.2 Other liabilities 105,317 1,045
6 Liabilities to non-euro area residents denominated in euro 103,820 −4,405
7 Liabilities to euro area residents denominated in foreign currency 4,000 −1,493
8 Liabilities to non-euro area residents denominated in foreign currency 12,486 2,831
  8.1 Deposits, balances and other liabilities 12,486 2,831
  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 216,308 1,171
11 Revaluation accounts 418,545 0
12 Capital and reserves 100,836 0
Total liabilities 3,518,455 11,053

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