Consolidated financial statement of the Eurosystem as at 28 April 2017

3 May 2017

Items not related to monetary policy operations

In the week ending 28 April 2017 gold and gold receivables (asset item 1) decreased by EUR 22 million owing to the sale of gold by one Eurosystem national central bank for the purpose of producing a commemorative coin.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 0.3 billion to EUR 280.1 billion.

US dollar liquidity operations

Value date

Type of transaction

Maturing amount

New amount

27 April 2017

7-day US dollar liquidity-providing reverse transaction

USD 80 million

USD 35 million

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 2.7 billion to EUR 300.5 billion. Banknotes in circulation (liability item 1) increased by EUR 3.6 billion to EUR 1,125.3 billion. Liabilities to general government (liability item 5.1) decreased by EUR 37.5 billion to EUR 172 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 19.5 billion to EUR 205.6 billion. On Wednesday, 26 April 2017, a main refinancing operation (asset item 5.1) of EUR 14.8 billion matured and a new one of EUR 14.4 billion, with a maturity of one week, was settled. During the week, a longer-term refinancing operation (asset item 5.2) of EUR 3.4 billion matured and a new one of EUR 1.5 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.4 billion (compared with EUR 0.2 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 576.4 billion (compared with EUR 559 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 13.9 billion to EUR 1,946.9 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 28 April 2017

Weekly change – purchases

Weekly change – redemptions

Covered bond purchase programme 1

EUR 8.3 billion

-

-EUR 0.9 billion

Covered bond purchase programme 2

EUR 5.8 billion

-

-EUR 0.1 billion

Covered bond purchase programme 3

EUR 216.4 billion

+EUR 1.2 billion

-EUR 0.9 billion

Asset-backed securities purchase programme

EUR 23.7 billion

+EUR 0.2 billion

-EUR 0.8 billion

Corporate sector purchase programme

EUR 82.3 billion

+EUR 1.2 billion

-

Public sector purchase programme

EUR 1,512.0 billion

+EUR 15.1 billion

-EUR 1.0 billion

Securities Markets Programme

EUR 98.4 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 9.6 billion to EUR 1,132.6 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 404,167 −22
2 Claims on non-euro area residents denominated in foreign currency 319,610 −1,985
  2.1 Receivables from the IMF 77,542 −108
  2.2 Balances with banks and security investments, external loans and other external assets 242,068 −1,877
3 Claims on euro area residents denominated in foreign currency 34,583 3,201
4 Claims on non-euro area residents denominated in euro 17,228 −1,746
  4.1 Balances with banks, security investments and loans 17,228 −1,746
  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 782,075 −2,078
  5.1 Main refinancing operations 14,409 −341
  5.2 Longer-term refinancing operations 767,304 −1,881
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 361 143
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 78,190 −3,836
7 Securities of euro area residents denominated in euro 2,247,422 11,209
  7.1 Securities held for monetary policy purposes 1,946,923 13,900
  7.2 Other securities 300,499 −2,691
8 General government debt denominated in euro 26,372 0
9 Other assets 238,385 3,891
Total assets 4,148,032 8,634
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 1,125,255 3,637
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,709,086 27,091
  2.1 Current accounts (covering the minimum reserve system) 1,132,647 9,633
  2.2 Deposit facility 576,420 17,458
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 18 0
3 Other liabilities to euro area credit institutions denominated in euro 12,884 2,162
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 306,241 −38,005
  5.1 General government 171,991 −37,529
  5.2 Other liabilities 134,251 −476
6 Liabilities to non-euro area residents denominated in euro 180,671 11,535
7 Liabilities to euro area residents denominated in foreign currency 4,994 1,982
8 Liabilities to non-euro area residents denominated in foreign currency 10,067 −427
  8.1 Deposits, balances and other liabilities 10,067 −427
  8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 59,048 0
10 Other liabilities 225,493 −230
11 Revaluation accounts 412,030 0
12 Capital and reserves 102,262 888
Total liabilities 4,148,032 8,634

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