Consolidated financial statement of the Eurosystem as at 25 August 2017

29 August 2017

Items not related to monetary policy operations

In the week ending 25 August 2017 gold and gold receivables (asset item 1) decreased by EUR 14 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) fell by EUR 0.5 billion to EUR 259.8 billion.

US dollar liquidity operations

Value date

Type of transaction

Maturing amount

New amount

24 August 2017

7-day US dollar liquidity-providing reverse transaction

USD 35 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 286.1 billion. Banknotes in circulation (liability item 1) decreased by EUR 4.2 billion to EUR 1,139.9 billion. Liabilities to general government (liability item 5.1) increased by EUR 30.6 billion to EUR 225.4 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) rose by EUR 7.1 billion to EUR 183.1 billion. On Wednesday, 23 August 2017, a main refinancing operation (asset item 5.1) of EUR 4.8 billion matured and a new one of EUR 7.3 billion, with a maturity of seven days, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.3 billion (compared with EUR 0.2 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 593.2 billion (compared with EUR 597.7 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 10.8 billion to EUR 2,160.1 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 25 August 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 227.7 billion

+EUR 1.1 billion

-

Asset-backed securities purchase programme

EUR 24.4 billion

+EUR 0.2 billion

-EUR 0.6 billion

Corporate sector purchase programme

EUR 106.2 billion

+EUR 0.9 billion

-

Public sector purchase programme

EUR 1,698.1 billion

+EUR 9.1 billion

-EUR 0.0 billion

Securities Markets Programme

EUR 91.2 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 7.8 billion to EUR 1,230.8 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 379,078 −14
2 Claims on non-euro area residents denominated in foreign currency 299,190 −907
  2.1 Receivables from the IMF 74,466 12
  2.2 Balances with banks and security investments, external loans and other external assets 224,724 −919
3 Claims on euro area residents denominated in foreign currency 35,625 379
4 Claims on non-euro area residents denominated in euro 16,217 −290
  4.1 Balances with banks, security investments and loans 16,217 −290
  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 776,282 2,611
  5.1 Main refinancing operations 7,267 2,458
  5.2 Longer-term refinancing operations 768,704 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 310 153
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 60,430 −1,800
7 Securities of euro area residents denominated in euro 2,446,153 10,723
  7.1 Securities held for monetary policy purposes 2,160,064 10,753
  7.2 Other securities 286,090 −30
8 General government debt denominated in euro 25,735 0
9 Other assets 240,172 2,466
Total assets 4,278,881 13,169
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 1,139,900 −4,154
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,823,991 −12,339
  2.1 Current accounts (covering the minimum reserve system) 1,230,792 −7,847
  2.2 Deposit facility 593,160 −4,495
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 39 3
3 Other liabilities to euro area credit institutions denominated in euro 7,999 −976
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 352,307 30,731
  5.1 General government 225,390 30,572
  5.2 Other liabilities 126,917 159
6 Liabilities to non-euro area residents denominated in euro 181,318 −868
7 Liabilities to euro area residents denominated in foreign currency 7,373 −112
8 Liabilities to non-euro area residents denominated in foreign currency 10,923 49
  8.1 Deposits, balances and other liabilities 10,923 49
  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 224,154 837
11 Revaluation accounts 371,913 0
12 Capital and reserves 102,297 0
Total liabilities 4,278,881 13,169

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