Consolidated financial statement of the Eurosystem as at 21 July 2017

25 July 2017

Items not related to monetary policy operations

In the week ending 21 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 0.5 billion to EUR 261.1 billion.

US dollar liquidity operations

Value date

Type of transaction

Maturing amount

New amount

20 July 2017

7-day US dollar liquidity-providing reverse transaction

USD 40 million

USD 85 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 1.2 billion to EUR 291.7 billion. Banknotes in circulation (liability item 1) fell by EUR 0.8 billion to EUR 1,140.4 billion. Liabilities to general government (liability item 5.1) increased by EUR 23.4 billion to EUR 254.1 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 16.8 billion to EUR 197.1 billion. On Wednesday, 19 July 2017, a main refinancing operation (asset item 5.1) of EUR 7.1 billion matured and a new one of EUR 6.8 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 577.2 billion (compared with EUR 594.2 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 10.8 billion to EUR 2,108.3 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 21 July 2017

Weekly change – purchases

Weekly change – redemptions

Covered bond purchase programme 1

EUR 7.5 billion

-

-

Covered bond purchase programme 2

EUR 4.9 billion

-

-EUR 0.3 billion

Covered bond purchase programme 3

EUR 224.6 billion

+EUR 0.9 billion

-EUR 0.1 billion

Asset-backed securities purchase programme

EUR 24.7 billion

+EUR 0.1 billion

-EUR 0.2 billion

Corporate sector purchase programme

EUR 101.1 billion

+EUR 0.8 billion

-EUR 0.1 billion

Public sector purchase programme

EUR 1,649.3 billion

+EUR 13.3 billion

-EUR 1.2 billion

Securities Markets Programme

EUR 96.3 billion

-

-EUR 2.4 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 11 billion to EUR 1,186.9 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 300,680 −2,239
  2.1 Receivables from the IMF 74,253 21
  2.2 Balances with banks and security investments, external loans and other external assets 226,427 −2,261
3 Claims on euro area residents denominated in foreign currency 33,368 1,805
4 Claims on non-euro area residents denominated in euro 15,850 −1,330
  4.1 Balances with banks, security investments and loans 15,850 −1,330
  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 774,338 −272
  5.1 Main refinancing operations 6,828 −276
  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 196 4
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 67,698 −1,321
7 Securities of euro area residents denominated in euro 2,399,967 9,602
  7.1 Securities held for monetary policy purposes 2,108,287 10,832
  7.2 Other securities 291,680 −1,229
8 General government debt denominated in euro 25,735 0
9 Other assets 239,030 226
Total assets 4,235,758 6,472
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 1,140,390 −788
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,764,094 −28,025
  2.1 Current accounts (covering the minimum reserve system) 1,186,863 −10,955
  2.2 Deposit facility 577,182 −17,045
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 48 −25
3 Other liabilities to euro area credit institutions denominated in euro 9,213 −581
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 380,784 20,538
  5.1 General government 254,079 23,418
  5.2 Other liabilities 126,705 −2,879
6 Liabilities to non-euro area residents denominated in euro 170,683 14,322
7 Liabilities to euro area residents denominated in foreign currency 5,462 508
8 Liabilities to non-euro area residents denominated in foreign currency 10,755 −440
  8.1 Deposits, balances and other liabilities 10,755 −440
  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 223,463 937
11 Revaluation accounts 371,913 0
12 Capital and reserves 102,296 0
Total liabilities 4,235,758 6,472

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