Consolidated financial statement of the Eurosystem as at 9 December 2016

13 December 2016

Items not related to monetary policy operations

In the week ending 9 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 0.5 billion to EUR 276 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
8 December 2016 7-day US dollar liquidity-providing reverse transaction USD 1.3 billion USD 1.5 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 324.1 billion. Banknotes in circulation (liability item 1) increased by EUR 5.9 billion to EUR 1,114.3 billion. Liabilities to general government (liability item 5.1) decreased by EUR 2.1 billion to EUR 144.9 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 0.4 billion to EUR 94.5 billion. On Wednesday, 7 December 2016, a main refinancing operation (asset item 5.1) of EUR 36 billion matured and a new one of EUR 35.8 billion, with a maturity of one week, 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 451.9 billion (compared with EUR 451.6 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 18.4 billion to EUR 1,626.5 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 9 December 2016 Difference compared with 2 December 2016 – purchases Difference compared with 2 December 2016 – redemptions
Covered bond purchase programme 1 EUR 13.1 billion - -EUR 0.0 billion
Covered bond purchase programme 2 EUR 7.0 billion - -EUR 0.0 billion
Covered bond purchase programme 3 EUR 203.7 billion +EUR 0.6 billion -EUR 0.4 billion
Asset-backed securities purchase programme EUR 22.7 billion +EUR 0.2 billion -
Corporate sector purchase programme EUR 49.9 billion +EUR 1.7 billion -
Public sector purchase programme EUR 1,228.0 billion +EUR 16.3 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 19.3 billion to EUR 869 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 412,635 0
2 Claims on non-euro area residents denominated in foreign currency 316,533 2,157
  2.1 Receivables from the IMF 77,474 50
  2.2 Balances with banks and security investments, external loans and other external assets 239,059 2,107
3 Claims on euro area residents denominated in foreign currency 36,060 2,053
4 Claims on non-euro area residents denominated in euro 17,940 501
  4.1 Balances with banks, security investments and loans 17,940 501
  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 546,451 −137
  5.1 Main refinancing operations 35,762 −190
  5.2 Longer-term refinancing operations 510,468 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 220 53
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 81,680 −1,388
7 Securities of euro area residents denominated in euro 1,950,588 18,321
  7.1 Securities held for monetary policy purposes 1,626,513 18,420
  7.2 Other securities 324,075 −98
8 General government debt denominated in euro 26,439 0
9 Other assets 221,448 885
Total assets 3,609,773 22,393
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 1,114,329 5,885
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,320,975 19,641
  2.1 Current accounts (covering the minimum reserve system) 869,018 19,340
  2.2 Deposit facility 451,870 222
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 87 80
3 Other liabilities to euro area credit institutions denominated in euro 3,381 −252
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 249,038 −4,771
  5.1 General government 144,901 −2,072
  5.2 Other liabilities 104,137 −2,700
6 Liabilities to non-euro area residents denominated in euro 112,007 −1,220
7 Liabilities to euro area residents denominated in foreign currency 6,246 2,431
8 Liabilities to non-euro area residents denominated in foreign currency 12,220 1,286
  8.1 Deposits, balances and other liabilities 12,220 1,286
  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 215,371 703
11 Revaluation accounts 418,545 0
12 Capital and reserves 99,527 −1,310
Total liabilities 3,609,773 22,393

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