Consolidated financial statement of the Eurosystem as at 18 November 2016

22 November 2016

Items not related to monetary policy operations

In the week ending 18 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) increased by EUR 0.4 billion to EUR 274.5 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
17 November 2016 7-day US dollar liquidity-providing reverse transaction USD 1.0 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 1.3 billion to EUR 323.3 billion. Banknotes in circulation (liability item 1) fell by EUR 1.4 billion to EUR 1,099.3 billion. Liabilities to general government (liability item 5.1) increased by EUR 13.4 billion to EUR 164.1 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 2 billion to EUR 85.9 billion. On Wednesday, 16 November 2016, a main refinancing operation (asset item 5.1) of EUR 31.4 billion matured and a new one of EUR 32.6 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 459 billion (compared with EUR 459.7 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 21.2 billion to EUR 1,572.3 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 18 November 2016

Difference compared with

11 November 2016 – purchases

Difference compared with

11 November 2016 – redemptions

Covered bond purchase programme 1 EUR 13.6 billion - -EUR 0.1 billion
Covered bond purchase programme 2 EUR 7.0 billion - -EUR 0.0 billion
Covered bond purchase programme 3 EUR 200.4 billion +EUR 0.9 billion -
Asset-backed securities purchase programme EUR 21.9 billion +EUR 0.5 billion -EUR 0.1 billion
Corporate sector purchase programme EUR 44.3 billion +EUR 2.2 billion -
Public sector purchase programme EUR 1,182.9 billion +EUR 17.8 billion -
Securities Markets Programme EUR 102.0 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 2.1 billion to EUR 802.5 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 412,634 0
2 Claims on non-euro area residents denominated in foreign currency 314,580 322
  2.1 Receivables from the IMF 78,213 56
  2.2 Balances with banks and security investments, external loans and other external assets 236,368 266
3 Claims on euro area residents denominated in foreign currency 32,468 90
4 Claims on non-euro area residents denominated in euro 18,314 1,184
  4.1 Balances with banks, security investments and loans 18,314 1,184
  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 544,890 1,142
  5.1 Main refinancing operations 32,639 1,190
  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 37 −48
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 87,522 −3,924
7 Securities of euro area residents denominated in euro 1,895,544 19,898
  7.1 Securities held for monetary policy purposes 1,572,271 21,167
  7.2 Other securities 323,272 −1,269
8 General government debt denominated in euro 26,439 0
9 Other assets 220,962 374
Total assets 3,553,353 19,087
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 1,099,269 −1,421
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,261,480 1,321
  2.1 Current accounts (covering the minimum reserve system) 802,476 2,132
  2.2 Deposit facility 458,959 −765
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 44 −47
3 Other liabilities to euro area credit institutions denominated in euro 3,820 −5
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 270,607 11,797
  5.1 General government 164,050 13,368
  5.2 Other liabilities 106,557 −1,570
6 Liabilities to non-euro area residents denominated in euro 109,917 8,380
7 Liabilities to euro area residents denominated in foreign currency 4,423 662
8 Liabilities to non-euro area residents denominated in foreign currency 9,974 −641
  8.1 Deposits, balances and other liabilities 9,974 −641
  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 216,350 −1,006
11 Revaluation accounts 418,545 0
12 Capital and reserves 100,836 0
Total liabilities 3,553,353 19,087

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