Consolidated financial statement of the Eurosystem as at 13 January 2017

17 January 2017

Items not related to monetary policy operations

In the week ending 13 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 1.6 billion to EUR 281.2 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
12 January 2017 7-day US dollar liquidity-providing reverse transaction USD 2.1 billion USD 0.3 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) decreased by EUR 0.8 billion to EUR 320.1 billion. Banknotes in circulation (liability item 1) fell by EUR 6.8 billion to EUR 1,115.5 billion. Liabilities to general government (liability item 5.1) increased by EUR 27.6 billion to EUR 137.9 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 22.7 billion to EUR 127.6 billion. On Wednesday, 11 January 2017, a main refinancing operation (asset item 5.1) of EUR 34 billion matured and a new one of EUR 32.3 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 461.4 billion (compared with EUR 440.5 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 24.2 billion to EUR 1,690.2 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 13 January 2017 Weekly change – purchases Weekly change – redemptions
Covered bond purchase programme 1 EUR 12.3 billion - -EUR 0.5 billion
Covered bond purchase programme 2 EUR 6.9 billion - -
Covered bond purchase programme 3 EUR 207.2 billion +EUR 3.8 billion -EUR 0.3 billion
Asset-backed securities purchase programme EUR 23.0 billion +EUR 0.1 billion -EUR 0.0 billion
Corporate sector purchase programme EUR 54.0 billion +EUR 2.2 billion -
Public sector purchase programme EUR 1,284.5 billion +EUR 18.9 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 6.7 billion to EUR 935.3 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 326,902 352
  2.1 Receivables from the IMF 78,676 −35
  2.2 Balances with banks and security investments, external loans and other external assets 248,226 387
3 Claims on euro area residents denominated in foreign currency 34,718 2,824
4 Claims on non-euro area residents denominated in euro 17,518 −952
  4.1 Balances with banks, security investments and loans 17,518 −952
  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 589,065 −1,760
  5.1 Main refinancing operations 32,319 −1,686
  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 175 −74
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 74,838 3,921
7 Securities of euro area residents denominated in euro 2,010,352 23,376
  7.1 Securities held for monetary policy purposes 1,690,230 24,155
  7.2 Other securities 320,122 −779
8 General government debt denominated in euro 26,460 0
9 Other assets 235,387 −3,096
Total assets 3,697,302 24,664
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 1,115,472 −6,751
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,396,795 27,645
  2.1 Current accounts (covering the minimum reserve system) 935,308 6,730
  2.2 Deposit facility 461,388 20,854
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 99 61
3 Other liabilities to euro area credit institutions denominated in euro 9,590 726
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 240,228 26,416
  5.1 General government 137,860 27,646
  5.2 Other liabilities 102,367 −1,230
6 Liabilities to non-euro area residents denominated in euro 138,836 −28,527
7 Liabilities to euro area residents denominated in foreign currency 7,735 2,033
8 Liabilities to non-euro area residents denominated in foreign currency 13,410 2,709
  8.1 Deposits, balances and other liabilities 13,410 2,709
  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 221,747 417
11 Revaluation accounts 394,418 0
12 Capital and reserves 99,808 −3
Total liabilities 3,697,302 24,664

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