Consolidated financial statement of the Eurosystem as at 26 May 2017

30 May 2017

Items not related to monetary policy operations

In the week ending 26 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 278.5 billion.

US dollar liquidity operations

Value date

Type of transaction

Maturing amount

New amount

26 May 2017

6-day US dollar liquidity-providing reverse transaction

USD 40 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) increased by EUR 0.5 billion to EUR 296.7 billion. Banknotes in circulation (liability item 1) rose by EUR 1 billion to EUR 1,124.1 billion. Liabilities to general government (liability item 5.1) increased by EUR 32.2 billion to EUR 209.3 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 3.8 billion to EUR 194.5 billion. On Wednesday, 24 May 2017, a main refinancing operation (asset item 5.1) of EUR 14 billion matured and a new one of EUR 15.9 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 588.9 billion (compared with EUR 590.7 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 13.5 billion to EUR 2,002.4 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 26 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

-

-EUR 0.0 billion

Covered bond purchase programme 3

EUR 219.3 billion

+EUR 0.7 billion

-EUR 0.6 billion

Asset-backed securities purchase programme

EUR 23.7 billion

+EUR 0.2 billion

-EUR 0.4 billion

Corporate sector purchase programme

EUR 89.2 billion

+EUR 2.3 billion

-EUR 0.0 billion

Public sector purchase programme

EUR 1,557.7 billion

+EUR 11.3 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) decreased by EUR 10 billion to EUR 1,159.5 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 404,102 0
2 Claims on non-euro area residents denominated in foreign currency 321,157 546
  2.1 Receivables from the IMF 77,438 40
  2.2 Balances with banks and security investments, external loans and other external assets 243,719 506
3 Claims on euro area residents denominated in foreign currency 30,311 −2,347
4 Claims on non-euro area residents denominated in euro 15,905 −1,529
  4.1 Balances with banks, security investments and loans 15,905 −1,529
  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 783,458 1,961
  5.1 Main refinancing operations 15,916 1,939
  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 238 22
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 75,885 −2,680
7 Securities of euro area residents denominated in euro 2,299,148 13,973
  7.1 Securities held for monetary policy purposes 2,002,444 13,461
  7.2 Other securities 296,704 512
8 General government debt denominated in euro 26,372 0
9 Other assets 239,346 67
Total assets 4,195,685 9,991
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 1,124,129 966
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,748,426 −11,838
  2.1 Current accounts (covering the minimum reserve system) 1,159,489 −10,020
  2.2 Deposit facility 588,886 −1,837
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 51 18
3 Other liabilities to euro area credit institutions denominated in euro 10,273 655
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 353,144 38,620
  5.1 General government 209,286 32,176
  5.2 Other liabilities 143,858 6,444
6 Liabilities to non-euro area residents denominated in euro 145,494 −16,537
7 Liabilities to euro area residents denominated in foreign currency 2,859 −814
8 Liabilities to non-euro area residents denominated in foreign currency 11,099 −541
  8.1 Deposits, balances and other liabilities 11,099 −541
  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 226,883 −534
11 Revaluation accounts 412,030 0
12 Capital and reserves 102,298 15
Total liabilities 4,195,685 9,991

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