Consolidated financial statement of the Eurosystem as at 23 June 2017

27 June 2017

Items not related to monetary policy operations

In the week ending 23 June 2017 gold and gold receivables (asset item 1) decreased by EUR 25 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 0.7 billion to EUR 277.8 billion.

US dollar liquidity operations

Value date

Type of transaction

Maturing amount

New amount

22 June 2017

7-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) remained virtually unchanged at EUR 293.7 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.4 billion to EUR 1,131.3 billion. Liabilities to general government (liability item 5.1) increased by EUR 49.4 billion to EUR 259.1 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 31.1 billion to EUR 202.4 billion. On Wednesday, 21 June 2017, a main refinancing operation (asset item 5.1) of EUR 11 billion matured and a new one of EUR 11.5 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) remained unchanged at EUR 0.3 billion, while recourse to the deposit facility (liability item 2.2) was EUR 577.2 billion (compared with EUR 607.8 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 13.4 billion to EUR 2,058.4 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 23 June 2017

Weekly change – purchases

Weekly change – redemptions

Covered bond purchase programme 1

EUR 7.9 billion

-

-EUR 0.3 billion

Covered bond purchase programme 2

EUR 5.4 billion

-

-EUR 0.2 billion

Covered bond purchase programme 3

EUR 222.8 billion

+EUR 1.1 billion

-EUR 1.0 billion

Asset-backed securities purchase programme

EUR 23.6 billion

+EUR 0.1 billion

-EUR 0.2 billion

Corporate sector purchase programme

EUR 95.2 billion

+EUR 1.5 billion

-

Public sector purchase programme

EUR 1,605.0 billion

+EUR 12.5 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) decreased by EUR 10.3 billion to EUR 1,158.1 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 404,050 −25
2 Claims on non-euro area residents denominated in foreign currency 321,626 −1,297
  2.1 Receivables from the IMF 77,586 −16
  2.2 Balances with banks and security investments, external loans and other external assets 244,040 −1,281
3 Claims on euro area residents denominated in foreign currency 30,743 2,055
4 Claims on non-euro area residents denominated in euro 18,474 165
  4.1 Balances with banks, security investments and loans 18,474 165
  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 779,630 508
  5.1 Main refinancing operations 11,521 508
  5.2 Longer-term refinancing operations 767,770 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 339 0
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 73,058 −2,473
7 Securities of euro area residents denominated in euro 2,352,084 13,385
  7.1 Securities held for monetary policy purposes 2,058,411 13,414
  7.2 Other securities 293,673 −30
8 General government debt denominated in euro 26,372 0
9 Other assets 240,112 891
Total assets 4,246,150 13,209
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 1,131,313 −422
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,735,335 −40,898
  2.1 Current accounts (covering the minimum reserve system) 1,158,076 −10,309
  2.2 Deposit facility 577,234 −30,567
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 25 −22
3 Other liabilities to euro area credit institutions denominated in euro 7,698 341
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 400,753 49,014
  5.1 General government 259,054 49,389
  5.2 Other liabilities 141,699 −374
6 Liabilities to non-euro area residents denominated in euro 152,095 3,069
7 Liabilities to euro area residents denominated in foreign currency 3,001 30
8 Liabilities to non-euro area residents denominated in foreign currency 12,497 1,473
  8.1 Deposits, balances and other liabilities 12,497 1,473
  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 230,081 601
11 Revaluation accounts 412,030 0
12 Capital and reserves 102,299 1
Total liabilities 4,246,150 13,209

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