Consolidated financial statement of the Eurosystem as at 19 May 2017

23 May 2017

Items not related to monetary policy operations

In the week ending 19 May 2017 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) decreased by EUR 0.4 billion to EUR 278.9 billion.

US dollar liquidity operations

Value date

Type of transaction

Maturing amount

New amount

18 May 2017

8-day US dollar liquidity-providing reverse transaction

USD 35 million

USD 40 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 0.6 billion to EUR 296.2 billion. Banknotes in circulation (liability item 1) fell by EUR 1.5 billion to EUR 1,123.2 billion. Liabilities to general government (liability item 5.1) increased by EUR 36.3 billion to EUR 177.1 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 10.2 billion to EUR 190.7 billion. On Wednesday, 17 May 2017, a main refinancing operation (asset item 5.1) of EUR 13.7 billion matured and a new one of EUR 14 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 590.7 billion (compared with EUR 600.7 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 14.3 billion to EUR 1,989 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 19 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 219.2 billion

+EUR 0.9 billion

-EUR 0.3 billion

Asset-backed securities purchase programme

EUR 23.8 billion

+EUR 0.1 billion

-EUR 0.1 billion

Corporate sector purchase programme

EUR 86.9 billion

+EUR 2.0 billion

-EUR 0.0 billion

Public sector purchase programme

EUR 1,546.4 billion

+EUR 12.1 billion

-EUR 0.5 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 3.9 billion to EUR 1,169.5 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 404,103 0
2 Claims on non-euro area residents denominated in foreign currency 320,611 −312
  2.1 Receivables from the IMF 77,398 −2
  2.2 Balances with banks and security investments, external loans and other external assets 243,213 −310
3 Claims on euro area residents denominated in foreign currency 32,658 405
4 Claims on non-euro area residents denominated in euro 17,434 395
  4.1 Balances with banks, security investments and loans 17,434 395
  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 781,497 265
  5.1 Main refinancing operations 13,977 298
  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 216 −32
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 78,565 −1,053
7 Securities of euro area residents denominated in euro 2,285,175 13,726
  7.1 Securities held for monetary policy purposes 1,988,983 14,285
  7.2 Other securities 296,192 −558
8 General government debt denominated in euro 26,372 0
9 Other assets 239,279 1,677
Total assets 4,185,693 15,105
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 1,123,162 −1,502
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,760,265 −6,045
  2.1 Current accounts (covering the minimum reserve system) 1,169,509 3,910
  2.2 Deposit facility 590,723 −9,971
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 34 15
3 Other liabilities to euro area credit institutions denominated in euro 9,617 −1,210
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 314,524 31,468
  5.1 General government 177,110 36,265
  5.2 Other liabilities 137,414 −4,797
6 Liabilities to non-euro area residents denominated in euro 162,031 −8,453
7 Liabilities to euro area residents denominated in foreign currency 3,674 −2
8 Liabilities to non-euro area residents denominated in foreign currency 11,641 509
  8.1 Deposits, balances and other liabilities 11,641 509
  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 227,418 252
11 Revaluation accounts 412,030 0
12 Capital and reserves 102,283 88
Total liabilities 4,185,693 15,105

Media contacts