Consolidated financial statement of the Eurosystem as at 28 July 2017

1 August 2017

Items not related to monetary policy operations

In the week ending 28 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 0.8 billion to EUR 260.3 billion.

US dollar liquidity operations

Value date

Type of transaction

Maturing amount

New amount

27 July 2017

7-day US dollar liquidity-providing reverse transaction

USD 85 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 292.1 billion. Banknotes in circulation (liability item 1) rose by EUR 2 billion to EUR 1,142.3 billion. Liabilities to general government (liability item 5.1) decreased by EUR 14.8 billion to EUR 239.3 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) decreased by EUR 4.4 billion to EUR 192.7 billion. On Wednesday, 26 July 2017, a main refinancing operation (asset item 5.1) of EUR 6.8 billion matured and a new one of EUR 7.3 billion, with a maturity of one week, was settled.

During the week, a longer-term refinancing operation (asset item 5.2) of EUR 1.5 billion matured and a new one of EUR 2.9 billion 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 583.5 billion (compared with EUR 577.2 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 10.9 billion to EUR 2,119.2 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 28 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

-

-

Covered bond purchase programme 3

EUR 225.0 billion

+EUR 0.4 billion

-

Asset-backed securities purchase programme

EUR 24.7 billion

+EUR 0.2 billion

-EUR 0.2 billion

Corporate sector purchase programme

EUR 101.8 billion

+EUR 0.8 billion

-

Public sector purchase programme

EUR 1,659.0 billion

+EUR 13.7 billion

-EUR 4.0 billion

Securities Markets Programme

EUR 96.3 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 13.8 billion to EUR 1,200.7 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 379,092 0
2 Claims on non-euro area residents denominated in foreign currency 301,985 1,304
  2.1 Receivables from the IMF 74,307 53
  2.2 Balances with banks and security investments, external loans and other external assets 227,678 1,251
3 Claims on euro area residents denominated in foreign currency 33,899 530
4 Claims on non-euro area residents denominated in euro 16,668 818
  4.1 Balances with banks, security investments and loans 16,668 818
  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 776,261 1,923
  5.1 Main refinancing operations 7,350 522
  5.2 Longer-term refinancing operations 768,704 1,390
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 207 11
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 63,318 −4,381
7 Securities of euro area residents denominated in euro 2,411,313 11,347
  7.1 Securities held for monetary policy purposes 2,119,172 10,886
  7.2 Other securities 292,141 461
8 General government debt denominated in euro 25,735 0
9 Other assets 240,010 980
Total assets 4,248,280 12,522
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 1,142,340 1,950
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,784,246 20,152
  2.1 Current accounts (covering the minimum reserve system) 1,200,699 13,835
  2.2 Deposit facility 583,494 6,312
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 53 5
3 Other liabilities to euro area credit institutions denominated in euro 9,573 360
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 369,794 −10,991
  5.1 General government 239,277 −14,802
  5.2 Other liabilities 130,516 3,812
6 Liabilities to non-euro area residents denominated in euro 169,294 −1,389
7 Liabilities to euro area residents denominated in foreign currency 6,168 706
8 Liabilities to non-euro area residents denominated in foreign currency 12,729 1,974
  8.1 Deposits, balances and other liabilities 12,729 1,974
  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 223,222 −242
11 Revaluation accounts 371,913 0
12 Capital and reserves 102,296 0
Total liabilities 4,248,280 12,522

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