Consolidated financial statement of the Eurosystem as at 20 January 2017

24 January 2017

Items not related to monetary policy operations

In the week ending 20 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 0.4 billion to EUR 280.8 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
19 January 2017 7-day US dollar liquidity-providing reverse transaction USD 0.3 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 0.6 billion to EUR 319.5 billion. Banknotes in circulation (liability item 1) fell by EUR 4.7 billion to EUR 1,110.7 billion. Liabilities to general government (liability item 5.1) increased by EUR 39.9 billion to EUR 177.7 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 27 billion to EUR 154.6 billion. On Wednesday, 18 January 2017, a main refinancing operation (asset item 5.1) of EUR 32.3 billion matured and a new one of the same amount, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with EUR 0.2 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 434.3 billion (compared with EUR 461.4 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 20.7 billion to EUR 1,710.9 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 20 January 2017 Weekly change – purchases Weekly change – redemptions
Covered bond purchase programme 1 EUR 11.3 billion - -EUR 1.0 billion
Covered bond purchase programme 2 EUR 6.9 billion - -
Covered bond purchase programme 3 EUR 207.5 billion +EUR 1.3 billion -EUR 1.1 billion
Asset-backed securities purchase programme EUR 23.0 billion +EUR 0.1 billion -EUR 0.1 billion
Corporate sector purchase programme EUR 56.9 billion +EUR 2.9 billion -
Public sector purchase programme EUR 1,303.1 billion +EUR 18.5 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 17.1 billion to EUR 952.4 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 382,061 0
2 Claims on non-euro area residents denominated in foreign currency 325,717 −1,186
  2.1 Receivables from the IMF 78,678 2
  2.2 Balances with banks and security investments, external loans and other external assets 247,039 −1,188
3 Claims on euro area residents denominated in foreign currency 31,353 −3,365
4 Claims on non-euro area residents denominated in euro 18,981 1,463
  4.1 Balances with banks, security investments and loans 18,981 1,463
  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 588,996 −69
  5.1 Main refinancing operations 32,330 11
  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 96 −79
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 78,138 3,299
7 Securities of euro area residents denominated in euro 2,030,431 20,079
  7.1 Securities held for monetary policy purposes 1,710,899 20,669
  7.2 Other securities 319,531 −591
8 General government debt denominated in euro 26,460 0
9 Other assets 237,486 2,100
Total assets 3,719,624 22,321
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 1,110,749 −4,722
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,386,798 −9,997
  2.1 Current accounts (covering the minimum reserve system) 952,359 17,051
  2.2 Deposit facility 434,268 −27,120
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 171 72
3 Other liabilities to euro area credit institutions denominated in euro 9,670 80
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 281,767 41,540
  5.1 General government 177,732 39,871
  5.2 Other liabilities 104,036 1,668
6 Liabilities to non-euro area residents denominated in euro 133,805 −5,031
7 Liabilities to euro area residents denominated in foreign currency 7,305 −430
8 Liabilities to non-euro area residents denominated in foreign currency 9,665 −3,745
  8.1 Deposits, balances and other liabilities 9,665 −3,745
  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 226,374 4,627
11 Revaluation accounts 394,418 0
12 Capital and reserves 99,808 0
Total liabilities 3,719,624 22,321

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