Consolidated financial statement of the Eurosystem as at 6 January 2017

10 January 2017

Items not related to monetary policy operations

In the week ending 6 January 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 3.6 billion to EUR 282.8 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
5 January 2017 7-day US dollar liquidity-providing reverse transaction USD 4.3 billion USD 2.1 billion

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 320.9 billion. Banknotes in circulation (liability item 1) decreased by EUR 4 billion to EUR 1,122.2 billion. Liabilities to general government (liability item 5.1) fell by EUR 4.7 billion to EUR 110.2 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) decreased by EUR 21.3 billion to EUR 150.3 billion. On Wednesday, 4 January 2017, a main refinancing operation (asset item 5.1) of EUR 39.1 billion matured and a new one of EUR 34 billion, with a maturity of one week, 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 440.5 billion (compared with EUR 424.2 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 12 billion to EUR 1,666.1 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 6 January 2017 Weekly change – purchases Weekly change – redemptions
Covered bond purchase programme 1 EUR 12.8 billion - -
Covered bond purchase programme 2 EUR 6.9 billion - -
Covered bond purchase programme 3 EUR 203.7 billion +EUR 0.2 billion -
Asset-backed securities purchase programme EUR 22.9 billion +EUR 0.1 billion -EUR 0.0 billion
Corporate sector purchase programme EUR 51.8 billion +EUR 0.8 billion -
Public sector purchase programme EUR 1,265.6 billion +EUR 11 billion -
Securities Markets Programme EUR 102.3 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 39.6 billion to EUR 928.6 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 382,062 0
2 Claims on non-euro area residents denominated in foreign currency 326,551 −1,303
  2.1 Receivables from the IMF 78,711 −41
  2.2 Balances with banks and security investments, external loans and other external assets 247,839 −1,262
3 Claims on euro area residents denominated in foreign currency 31,894 1,175
4 Claims on non-euro area residents denominated in euro 18,470 −612
  4.1 Balances with banks, security investments and loans 18,470 −612
  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 590,825 −5,048
  5.1 Main refinancing operations 34,006 −5,125
  5.2 Longer-term refinancing operations 556,570 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 249 77
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 70,918 1,814
7 Securities of euro area residents denominated in euro 1,986,976 12,077
  7.1 Securities held for monetary policy purposes 1,666,075 12,049
  7.2 Other securities 320,901 28
8 General government debt denominated in euro 26,460 0
9 Other assets 238,482 1,635
Total assets 3,672,638 9,737
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 1,122,223 −3,993
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,369,150 55,886
  2.1 Current accounts (covering the minimum reserve system) 928,578 39,591
  2.2 Deposit facility 440,534 16,326
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 38 −31
3 Other liabilities to euro area credit institutions denominated in euro 8,864 −563
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 213,812 −6,948
  5.1 General government 110,214 −4,665
  5.2 Other liabilities 103,597 −2,283
6 Liabilities to non-euro area residents denominated in euro 167,363 −38,315
7 Liabilities to euro area residents denominated in foreign currency 5,702 2,058
8 Liabilities to non-euro area residents denominated in foreign currency 10,701 1,400
  8.1 Deposits, balances and other liabilities 10,701 1,400
  8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 59,263 0
10 Other liabilities 221,331 −71
11 Revaluation accounts 394,418 0
12 Capital and reserves 99,811 283
Total liabilities 3,672,638 9,737

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