Consolidated financial statement of the Eurosystem as at 22 September 2017

26 September 2017

Items not related to monetary policy operations

In the week ending 22 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) remained virtually unchanged at EUR 259.8 billion.

US dollar liquidity operations

Value date

Type of transaction

Maturing amount

New amount

21 September 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) increased by EUR 0.2 billion to EUR 284.3 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.8 billion to EUR 1,140.2 billion. Liabilities to general government (liability item 5.1) increased by EUR 38.1 billion to EUR 236.2 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 2.5 billion to EUR 125.9 billion. On Wednesday, 20 September 2017, a main refinancing operation (asset item 5.1) of EUR 4 billion matured and a new one of EUR 5.1 billion, with a maturity of seven days, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (virtually unchanged from the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 647.6 billion (compared with EUR 649 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 14.2 billion to EUR 2,214.1 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 22 September 2017

Weekly change – purchases

Weekly change – redemptions

Covered bond purchase programme 1

EUR 7.2 billion

-

-

Covered bond purchase programme 2

EUR 4.8 billion

-

-

Covered bond purchase programme 3

EUR 230.8 billion

+EUR 0.9 billion

-EUR 0.1 billion

Asset-backed securities purchase programme

EUR 24.3 billion

+EUR 0.0 billion

-EUR 0.3 billion

Corporate sector purchase programme

EUR 113.0 billion

+EUR 1.9 billion

-EUR 0.1 billion

Public sector purchase programme

EUR 1,743.0 billion

+EUR 13.0 billion

-EUR 1.1 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 21.3 billion to EUR 1,217.6 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 379,079 0
2 Claims on non-euro area residents denominated in foreign currency 302,544 −393
  2.1 Receivables from the IMF 74,508 −14
  2.2 Balances with banks and security investments, external loans and other external assets 228,036 −379
3 Claims on euro area residents denominated in foreign currency 33,423 2,384
4 Claims on non-euro area residents denominated in euro 16,806 166
  4.1 Balances with banks, security investments and loans 16,806 166
  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 773,563 1,088
  5.1 Main refinancing operations 5,060 1,074
  5.2 Longer-term refinancing operations 768,382 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 122 14
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 59,433 −2,089
7 Securities of euro area residents denominated in euro 2,498,495 14,355
  7.1 Securities held for monetary policy purposes 2,214,147 14,170
  7.2 Other securities 284,348 186
8 General government debt denominated in euro 25,735 0
9 Other assets 239,133 3,825
Total assets 4,328,211 19,336
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 1,140,150 −1,819
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,865,245 −22,726
  2.1 Current accounts (covering the minimum reserve system) 1,217,589 −21,341
  2.2 Deposit facility 647,616 −1,394
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 40 9
3 Other liabilities to euro area credit institutions denominated in euro 10,657 3,967
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 362,324 38,063
  5.1 General government 236,181 38,102
  5.2 Other liabilities 126,142 −40
6 Liabilities to non-euro area residents denominated in euro 173,563 −1,968
7 Liabilities to euro area residents denominated in foreign currency 8,725 1,018
8 Liabilities to non-euro area residents denominated in foreign currency 10,759 979
  8.1 Deposits, balances and other liabilities 10,759 979
  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 225,875 1,822
11 Revaluation accounts 371,913 0
12 Capital and reserves 102,297 0
Total liabilities 4,328,211 19,336

Media contacts