Consolidated financial statement of the Eurosystem as at 14 July 2017

18 July 2017

Items not related to monetary policy operations

In the week ending 14 July 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 261.6 billion.

US dollar liquidity operations

Value date

Type of transaction

Maturing amount

New amount

13 July 2017

7-day US dollar liquidity-providing reverse transaction

USD 55 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 0.2 billion to EUR 292.9 billion. Banknotes in circulation (liability item 1) increased by EUR 1.2 billion to EUR 1,141.2 billion. Liabilities to general government (liability item 5.1) rose by EUR 21.5 billion to EUR 230.7 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 25.3 billion to EUR 180.3 billion. On Wednesday, 12 July 2017, a main refinancing operation (asset item 5.1) of EUR 8.3 billion matured and a new one of EUR 7.1 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (compared with EUR 0.1 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 594.2 billion (compared with EUR 620.7 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 16.2 billion to EUR 2,097.5 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 14 July 2017

Weekly change – purchases

Weekly change – redemptions

Covered bond purchase programme 1

EUR 7.5 billion

-

-

Covered bond purchase programme 2

EUR 5.3 billion

-

-EUR 0.1 billion

Covered bond purchase programme 3

EUR 223.9 billion

+EUR 1.2 billion

-EUR 0.4 billion

Asset-backed securities purchase programme

EUR 24.7 billion

+EUR 0.2 billion

-EUR 0.0 billion

Corporate sector purchase programme

EUR 100.3 billion

+EUR 1.4 billion

-

Public sector purchase programme

EUR 1,637.2 billion

+EUR 13.8 billion

-

Securities Markets Programme

EUR 98.7 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 31.2 billion to EUR 1,197.8 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 379,091 0
2 Claims on non-euro area residents denominated in foreign currency 302,920 −626
  2.1 Receivables from the IMF 74,232 −381
  2.2 Balances with banks and security investments, external loans and other external assets 228,688 −244
3 Claims on euro area residents denominated in foreign currency 31,563 1,063
4 Claims on non-euro area residents denominated in euro 17,180 −12
  4.1 Balances with banks, security investments and loans 17,180 −12
  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 774,610 −1,102
  5.1 Main refinancing operations 7,104 −1,146
  5.2 Longer-term refinancing operations 767,314 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 192 44
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 69,019 −485
7 Securities of euro area residents denominated in euro 2,390,365 15,945
  7.1 Securities held for monetary policy purposes 2,097,455 16,185
  7.2 Other securities 292,910 −239
8 General government debt denominated in euro 25,735 6
9 Other assets 238,803 −198
Total assets 4,229,286 14,590
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 1,141,178 1,219
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,792,119 4,791
  2.1 Current accounts (covering the minimum reserve system) 1,197,818 31,186
  2.2 Deposit facility 594,227 −26,445
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 73 50
3 Other liabilities to euro area credit institutions denominated in euro 9,795 11
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 360,246 20,134
  5.1 General government 230,662 21,519
  5.2 Other liabilities 129,584 −1,385
6 Liabilities to non-euro area residents denominated in euro 156,361 −12,422
7 Liabilities to euro area residents denominated in foreign currency 4,953 −37
8 Liabilities to non-euro area residents denominated in foreign currency 11,195 859
  8.1 Deposits, balances and other liabilities 11,195 859
  8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 56,705 0
10 Other liabilities 222,527 34
11 Revaluation accounts 371,913 0
12 Capital and reserves 102,296 0
Total liabilities 4,229,286 14,590

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