Consolidated financial statement of the Eurosystem as at 16 December 2016

20 December 2016

Items not related to monetary policy operations

In the week ending 16 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 2.8 billion to EUR 278.8 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
15 December 2016 21-day US dollar liquidity-providing reverse transaction USD 1.5 billion USD 4.3 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) decreased by EUR 1 billion to EUR 323.1 billion. Banknotes in circulation (liability item 1) increased by EUR 3 billion to EUR 1,117.4 billion. Liabilities to general government (liability item 5.1) rose by EUR 24 billion to EUR 168.9 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) increased by EUR 34.5 billion to EUR 129 billion. On Wednesday, 14 December 2016, a main refinancing operation (asset item 5.1) of EUR 35.8 billion matured and a new one of EUR 36.8 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with EUR 0.2 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 418.4 billion (compared with EUR 451.9 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 17.5 billion to EUR 1,644 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 16 December 2016 Difference compared with 9 December 2016 – purchases Difference compared with 9 December 2016 – redemptions
Covered bond purchase programme 1 EUR 13.0 billion - -EUR 0.2 billion
Covered bond purchase programme 2 EUR 7.0 billion - -
Covered bond purchase programme 3 EUR 204.0 billion +EUR 0.6 billion -EUR 0.3 billion
Asset-backed securities purchase programme EUR 23.1 billion +EUR 0.4 billion -EUR 0.0 billion
Corporate sector purchase programme EUR 50.6 billion +EUR 0.7 billion -
Public sector purchase programme EUR 1,244.3 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 10.6 billion to EUR 879.7 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 319,456 2,923
  2.1 Receivables from the IMF 77,503 29
  2.2 Balances with banks and security investments, external loans and other external assets 241,953 2,894
3 Claims on euro area residents denominated in foreign currency 36,864 804
4 Claims on non-euro area residents denominated in euro 18,094 154
  4.1 Balances with banks, security investments and loans 18,094 154
  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 547,437 986
  5.1 Main refinancing operations 36,822 1,060
  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 147 −74
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 79,837 −1,843
7 Securities of euro area residents denominated in euro 1,967,103 16,515
  7.1 Securities held for monetary policy purposes 1,643,986 17,474
  7.2 Other securities 323,117 −959
8 General government debt denominated in euro 26,437 −2
9 Other assets 222,870 1,422
Total assets 3,630,732 20,959
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 1,117,369 3,040
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,298,100 −22,875
  2.1 Current accounts (covering the minimum reserve system) 879,665 10,647
  2.2 Deposit facility 418,410 −33,460
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 25 −62
3 Other liabilities to euro area credit institutions denominated in euro 4,887 1,505
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 271,849 22,812
  5.1 General government 168,906 24,005
  5.2 Other liabilities 102,943 −1,194
6 Liabilities to non-euro area residents denominated in euro 127,335 15,328
7 Liabilities to euro area residents denominated in foreign currency 7,122 877
8 Liabilities to non-euro area residents denominated in foreign currency 12,237 17
  8.1 Deposits, balances and other liabilities 12,237 17
  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 215,627 256
11 Revaluation accounts 418,545 0
12 Capital and reserves 99,527 1
Total liabilities 3,630,732 20,959

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