Consolidated financial statement of the Eurosystem as at 1 September 2017

5 September 2017

Items not related to monetary policy operations

In the week ending 1 September 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 259.4 billion.

US dollar liquidity operations

Value date

Type of transaction

Maturing amount

New amount

31 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) decreased by EUR 0.3 billion to EUR 285.7 billion. Banknotes in circulation (liability item 1) increased by EUR 2.2 billion to EUR 1,142.1 billion. Liabilities to general government (liability item 5.1) decreased by EUR 66.6 billion to EUR 158.8 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 36.7 billion to EUR 146.4 billion. On Wednesday, 30 August 2017, a main refinancing operation (asset item 5.1) of EUR 7.3 billion matured and a new one of EUR 5.9 billion, with a maturity of seven days, was settled.

During the week, a longer-term refinancing operation (asset item 5.2) of EUR 3 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 (compared with EUR 0.3 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 628.3 billion (compared with EUR 593.2 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 10.3 billion to EUR 2,170.4 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 1 September 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 0.0 billion

Covered bond purchase programme 3

EUR 228.0 billion

+EUR 0.6 billion

-EUR 0.3 billion

Asset-backed securities purchase programme

EUR 24.5 billion

+EUR 0.1 billion

-EUR 0.1 billion

Corporate sector purchase programme

EUR 107.3 billion

+EUR 1.1 billion

-

Public sector purchase programme

EUR 1,707.1 billion

+EUR 9.0 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) increased by EUR 32.6 billion to EUR 1,263.4 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 0
2 Claims on non-euro area residents denominated in foreign currency 298,800 −390
  2.1 Receivables from the IMF 74,466 0
  2.2 Balances with banks and security investments, external loans and other external assets 224,334 −390
3 Claims on euro area residents denominated in foreign currency 34,238 −1,387
4 Claims on non-euro area residents denominated in euro 16,448 231
  4.1 Balances with banks, security investments and loans 16,448 231
  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 774,663 −1,619
  5.1 Main refinancing operations 5,914 −1,354
  5.2 Longer-term refinancing operations 768,553 −151
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 196 −114
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 59,205 −1,225
7 Securities of euro area residents denominated in euro 2,456,121 9,967
  7.1 Securities held for monetary policy purposes 2,170,371 10,308
  7.2 Other securities 285,750 −340
8 General government debt denominated in euro 25,735 0
9 Other assets 239,439 −733
Total assets 4,283,727 4,846
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 1,142,129 2,228
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,891,738 67,747
  2.1 Current accounts (covering the minimum reserve system) 1,263,436 32,644
  2.2 Deposit facility 628,279 35,119
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 23 −16
3 Other liabilities to euro area credit institutions denominated in euro 8,427 428
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 286,719 −65,588
  5.1 General government 158,758 −66,632
  5.2 Other liabilities 127,961 1,044
6 Liabilities to non-euro area residents denominated in euro 182,089 771
7 Liabilities to euro area residents denominated in foreign currency 6,824 −549
8 Liabilities to non-euro area residents denominated in foreign currency 10,127 −796
  8.1 Deposits, balances and other liabilities 10,127 −796
  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 224,758 604
11 Revaluation accounts 371,913 0
12 Capital and reserves 102,297 0
Total liabilities 4,283,727 4,846

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