Consolidated financial statement of the Eurosystem as at 2 December 2016

6 December 2016

Items not related to monetary policy operations

In the week ending 2 December 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 0.6 billion to EUR 275.5 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
1 December 2016 7-day US dollar liquidity-providing reverse transaction USD 1.3 billion USD 1.3 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) increased by EUR 0.4 billion to EUR 324.2 billion. Banknotes in circulation (liability item 1) rose by EUR 8.6 billion to EUR 1,108.4 billion. Liabilities to general government (liability item 5.1) decreased by EUR 37.7 billion to EUR 147 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 22.4 billion to EUR 94.9 billion. On Wednesday, 30 November 2016, a main refinancing operation (asset item 5.1) of EUR 33.7 billion matured and a new one of EUR 36 billion, with a maturity of one week, was settled.

During the week, a longer-term refinancing operation (asset item 5.2) of EUR 5 billion matured and a new one of EUR 3.3 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (virtually unchanged from the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 451.6 billion (compared with EUR 428.8 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 billion to EUR 1,608.1 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 2 December 2016 Difference compared with 25 November 2016 – purchases

Difference compared with

25 November 2016 – redemptions

Covered bond purchase programme 1 EUR 13.2 billion - -
Covered bond purchase programme 2 EUR 7.0 billion - -
Covered bond purchase programme 3 EUR 203.5 billion +EUR 1.3 billion -
Asset-backed securities purchase programme EUR 22.5 billion +EUR 0.3 billion -EUR 0.1 billion
Corporate sector purchase programme EUR 48.2 billion +EUR 2.0 billion -
Public sector purchase programme EUR 1,211.7 billion +EUR 14.5 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 29.3 billion to EUR 849.7 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 314,377 309
  2.1 Receivables from the IMF 77,424 0
  2.2 Balances with banks and security investments, external loans and other external assets 236,953 309
3 Claims on euro area residents denominated in foreign currency 34,007 1,685
4 Claims on non-euro area residents denominated in euro 17,439 −806
  4.1 Balances with banks, security investments and loans 17,439 −806
  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 546,587 482
  5.1 Main refinancing operations 35,952 2,233
  5.2 Longer-term refinancing operations 510,468 −1,746
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 168 −5
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 83,068 −734
7 Securities of euro area residents denominated in euro 1,932,267 18,367
  7.1 Securities held for monetary policy purposes 1,608,093 18,008
  7.2 Other securities 324,174 360
8 General government debt denominated in euro 26,439 0
9 Other assets 220,563 1,847
Total assets 3,587,380 21,150
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 1,108,444 8,631
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,301,334 52,139
  2.1 Current accounts (covering the minimum reserve system) 849,679 29,258
  2.2 Deposit facility 451,648 22,881
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 7 0
3 Other liabilities to euro area credit institutions denominated in euro 3,633 84
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 253,809 −36,373
  5.1 General government 146,973 −37,720
  5.2 Other liabilities 106,837 1,346
6 Liabilities to non-euro area residents denominated in euro 113,228 −4,215
7 Liabilities to euro area residents denominated in foreign currency 3,815 998
8 Liabilities to non-euro area residents denominated in foreign currency 10,934 430
  8.1 Deposits, balances and other liabilities 10,934 430
  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 214,669 −543
11 Revaluation accounts 418,545 0
12 Capital and reserves 100,836 0
Total liabilities 3,587,380 21,150

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