Consolidated financial statement of the Eurosystem as at 27 January 2017

31 January 2017

Items not related to monetary policy operations

In the week ending 27 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 280.4 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
26 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 0.1 billion to EUR 319.4 billion. Banknotes in circulation (liability item 1) fell by EUR 1.7 billion to EUR 1,109 billion. Liabilities to general government (liability item 5.1) increased by EUR 23.5 billion to EUR 201.3 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 27.3 billion to EUR 181.9 billion. On Wednesday, 25 January 2017, a main refinancing operation (asset item 5.1) of EUR 32.3 billion matured and a new one of EUR 34 billion, with a maturity of one week, was settled. On Thursday, 26 January 2017, a longer-term refinancing operation (asset item 5.2) of EUR 5.4 billion matured and a new one of EUR 3.4 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (compared with EUR 0.1 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 406.7 billion (compared with EUR 434.3 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 19.4 billion to EUR 1,730.3 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 27 January 2017 Weekly change – purchases Weekly change – redemptions
Covered bond purchase programme 1 EUR 11.1 billion - -EUR 0.3 billion
Covered bond purchase programme 2 EUR 6.8 billion - -EUR 0.1 billion
Covered bond purchase programme 3 EUR 207.9 billion +EUR 1.3 billion -EUR 0.9 billion
Asset-backed securities purchase programme EUR 23.5 billion +EUR 1.0 billion -EUR 0.4 billion
Corporate sector purchase programme EUR 58.8 billion +EUR 1.9 billion -EUR 0.0 billion
Public sector purchase programme EUR 1,319.9 billion +EUR 16.9 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 26.5 billion to EUR 978.9 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 323,628 −2,088
  2.1 Receivables from the IMF 78,658 −21
  2.2 Balances with banks and security investments, external loans and other external assets 244,971 −2,068
3 Claims on euro area residents denominated in foreign currency 35,781 4,429
4 Claims on non-euro area residents denominated in euro 18,805 −176
  4.1 Balances with banks, security investments and loans 18,805 −176
  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 588,671 −326
  5.1 Main refinancing operations 33,994 1,664
  5.2 Longer-term refinancing operations 554,494 −2,076
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 183 87
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 80,421 2,283
7 Securities of euro area residents denominated in euro 2,049,756 19,325
  7.1 Securities held for monetary policy purposes 1,730,309 19,409
  7.2 Other securities 319,447 −84
8 General government debt denominated in euro 26,460 0
9 Other assets 235,183 −2,304
Total assets 3,740,766 21,143
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 1,109,033 −1,717
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,385,659 −1,139
  2.1 Current accounts (covering the minimum reserve system) 978,887 26,528
  2.2 Deposit facility 406,739 −27,529
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 33 −137
3 Other liabilities to euro area credit institutions denominated in euro 7,661 −2,009
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 305,200 23,433
  5.1 General government 201,252 23,521
  5.2 Other liabilities 103,948 −88
6 Liabilities to non-euro area residents denominated in euro 132,994 −811
7 Liabilities to euro area residents denominated in foreign currency 9,221 1,916
8 Liabilities to non-euro area residents denominated in foreign currency 10,524 859
  8.1 Deposits, balances and other liabilities 10,524 859
  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 226,985 611
11 Revaluation accounts 394,418 0
12 Capital and reserves 99,808 0
Total liabilities 3,740,766 21,143

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