Consolidated financial statement of the Eurosystem as at 5 May 2017

9 May 2017

Items not related to monetary policy operations

In the week ending 5 May 2017 gold and gold receivables (asset item 1) decreased by EUR 43 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 279.8 billion.

US dollar liquidity operations

Value date

Type of transaction

Maturing amount

New amount

4 May 2017

7-day US dollar liquidity-providing reverse transaction

USD 35 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 2.9 billion to EUR 297.6 billion. Banknotes in circulation (liability item 1) fell by EUR 0.2 billion to EUR 1,125.1 billion. Liabilities to general government (liability item 5.1) decreased by EUR 57.8 billion to EUR 114.2 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 24 billion to EUR 181.6 billion. On Wednesday, 3 May 2017, a main refinancing operation (asset item 5.1) of EUR 14.4 billion matured and a new one of EUR 14.4 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.3 billion (compared with EUR 0.4 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 600.4 billion (compared with EUR 576.4 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 billion to EUR 1,959.9 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 5 May 2017

Weekly change – purchases

Weekly change – redemptions

Covered bond purchase programme 1

EUR 8.3 billion

-

-

Covered bond purchase programme 2

EUR 5.8 billion

-

-

Covered bond purchase programme 3

EUR 217.4 billion

+EUR 1.1 billion

-EUR 0.0 billion

Asset-backed securities purchase programme

EUR 23.7 billion

+EUR 0.1 billion

-EUR 0.1 billion

Corporate sector purchase programme

EUR 83.4 billion

+EUR 1.2 billion

-EUR 0.0 billion

Public sector purchase programme

EUR 1,522.7 billion

+EUR 11.0 billion

-EUR 0.2 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 40 billion to EUR 1,172.7 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 404,124 −43
2 Claims on non-euro area residents denominated in foreign currency 319,749 139
  2.1 Receivables from the IMF 77,390 −152
  2.2 Balances with banks and security investments, external loans and other external assets 242,359 291
3 Claims on euro area residents denominated in foreign currency 34,577 −6
4 Claims on non-euro area residents denominated in euro 16,762 −467
  4.1 Balances with banks, security investments and loans 16,762 −467
  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 782,030 −45
  5.1 Main refinancing operations 14,429 20
  5.2 Longer-term refinancing operations 767,304 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 296 −65
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 78,622 432
7 Securities of euro area residents denominated in euro 2,257,527 10,105
  7.1 Securities held for monetary policy purposes 1,959,900 12,977
  7.2 Other securities 297,626 −2,872
8 General government debt denominated in euro 26,372 0
9 Other assets 237,064 −1,321
Total assets 4,156,826 8,794
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 1,125,058 −197
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,773,051 63,965
  2.1 Current accounts (covering the minimum reserve system) 1,172,669 40,022
  2.2 Deposit facility 600,364 23,944
  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 12,353 −531
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 256,013 −50,229
  5.1 General government 114,215 −57,775
  5.2 Other liabilities 141,797 7,546
6 Liabilities to non-euro area residents denominated in euro 175,201 −5,470
7 Liabilities to euro area residents denominated in foreign currency 4,100 −894
8 Liabilities to non-euro area residents denominated in foreign currency 11,388 1,321
  8.1 Deposits, balances and other liabilities 11,388 1,321
  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 226,320 827
11 Revaluation accounts 412,030 0
12 Capital and reserves 102,262 0
Total liabilities 4,156,826 8,794

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