Consolidated financial statement of the Eurosystem as at 1 December 2017: commentary

5 December 2017

In the week ending 1 December 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) increased by EUR 0.7 billion to EUR 256.5 billion.

As a result of the Eurosystem’s open market operations and standing facilities, net lending to credit institutions (asset item 5 minus liability items 2.2, 2.3, 2.4, 2.5 and 4) rose by EUR 9.4 billion to EUR 74.1 billion.

Base money (liability items 1, 2.1 and 2.2) increased by EUR 68.7 billion to EUR 3,181.5 billion.

The table below provides the detailed breakdown of securities held for monetary policy purposes (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 December 2017

Weekly change – purchases

Weekly change – redemptions

Covered bond purchase programme 1

EUR 6.1 billion

-

-

Covered bond purchase programme 2

EUR 4.8 billion

-

-

Covered bond purchase programme 3

EUR 240.2 billion

+EUR 1.1 billion

-EUR 0.0 billion

Asset-backed securities purchase programme

EUR 25.4 billion

+EUR 0.7 billion

-EUR 0.1 billion

Corporate sector purchase programme

EUR 129.1 billion

+EUR 1.4 billion

-EUR 0.0 billion

Public sector purchase programme

EUR 1,852.9 billion

+EUR 12.3 billion

-EUR 1.3 billion

Securities Markets Programme

EUR 88.9 billion

-

-

The content and format of the weekly financial statement are set out in Annexes IV to VI of Guideline (EU) 2016/2249 of the European Central Bank of 3 November 2016 on the legal framework for accounting and financial reporting in the European System of Central Banks (ECB/2016/34).

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