Consolidated financial statement of the Eurosystem as at 3 February 2017

7 February 2017

Items not related to monetary policy operations

In the week ending 3 February 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 0.1 billion to EUR 280.3 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
2 February 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 4.1 billion to EUR 315.4 billion. Banknotes in circulation (liability item 1) increased by EUR 2.3 billion to EUR 1,111.4 billion. Liabilities to general government (liability item 5.1) decreased by EUR 70.7 billion to EUR 130.5 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 69.8 billion to EUR 112.1 billion. On Wednesday, 1 February 2017, a main refinancing operation (asset item 5.1) of EUR 34 billion matured and a new one of EUR 31.6 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 474.2 billion (compared with EUR 406.7 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 18.3 billion to EUR 1,748.6 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 3 February 2017 Weekly change – purchases Weekly change – redemptions
Covered bond purchase programme 1 EUR 11.1 billion - -
Covered bond purchase programme 2 EUR 6.8 billion - -
Covered bond purchase programme 3 EUR 209.7 billion +EUR 2.1 billion -EUR 0.3 billion
Asset-backed securities purchase programme EUR 23.4 billion +EUR 0.0 billion -EUR 0.2 billion
Corporate sector purchase programme EUR 61.0 billion +EUR 2.2 billion -
Public sector purchase programme EUR 1,337.3 billion +EUR 17.3 billion -
Securities Markets Programme EUR 99.4 billion - -EUR 2.8 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) decreased by EUR 15 billion to EUR 963.9 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 323,439 −190
  2.1 Receivables from the IMF 78,653 −5
  2.2 Balances with banks and security investments, external loans and other external assets 244,786 −185
3 Claims on euro area residents denominated in foreign currency 34,679 −1,102
4 Claims on non-euro area residents denominated in euro 19,782 976
  4.1 Balances with banks, security investments and loans 19,782 976
  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 586,310 −2,361
  5.1 Main refinancing operations 31,645 −2,349
  5.2 Longer-term refinancing operations 554,494 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 171 −12
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 79,656 −765
7 Securities of euro area residents denominated in euro 2,064,015 14,259
  7.1 Securities held for monetary policy purposes 1,748,644 18,335
  7.2 Other securities 315,371 −4,076
8 General government debt denominated in euro 26,410 −50
9 Other assets 233,147 −2,036
Total assets 3,749,499 8,733
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 1,111,363 2,330
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,438,113 52,454
  2.1 Current accounts (covering the minimum reserve system) 963,859 −15,028
  2.2 Deposit facility 474,209 67,470
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 45 12
3 Other liabilities to euro area credit institutions denominated in euro 9,975 2,315
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 237,507 −67,693
  5.1 General government 130,531 −70,721
  5.2 Other liabilities 106,977 3,029
6 Liabilities to non-euro area residents denominated in euro 151,512 18,517
7 Liabilities to euro area residents denominated in foreign currency 9,177 −44
8 Liabilities to non-euro area residents denominated in foreign currency 9,386 −1,138
  8.1 Deposits, balances and other liabilities 9,386 −1,138
  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 228,693 1,708
11 Revaluation accounts 394,418 0
12 Capital and reserves 100,092 284
Total liabilities 3,749,499 8,733

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