Consolidated financial statement of the Eurosystem as at 17 February 2017

21 February 2017

Items not related to monetary policy operations

In the week ending 17 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 0.6 billion to EUR 279.3 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
16 February 2017 7-day US dollar liquidity-providing reverse transaction USD 0.2 billion USD 0.1 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) decreased by EUR 1.4 billion to EUR 313.8 billion. Banknotes in circulation (liability item 1) fell by EUR 0.9 billion to EUR 1,110.1 billion. Liabilities to general government (liability item 5.1) increased by EUR 41.4 billion to EUR 185.6 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 25.2 billion to EUR 114.1 billion. On Wednesday, 15 February 2017, a main refinancing operation (asset item 5.1) of EUR 29.6 billion matured and a new one of EUR 28 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) remained virtually unchanged at EUR 0.6 billion, while recourse to the deposit facility (liability item 2.2) was EUR 469 billion (compared with EUR 495.8 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 19.2 billion to EUR 1,787.9 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 17 February 2017 Weekly change – purchases Weekly change – redemptions
Covered bond purchase programme 1 EUR 11.0 billion - -
Covered bond purchase programme 2 EUR 6.6 billion - -EUR 0.3 billion
Covered bond purchase programme 3 EUR 211.3 billion +EUR 0.8 billion -EUR 0.5 billion
Asset-backed securities purchase programme EUR 23.3 billion +EUR 0.0 billion -EUR 0.1 billion
Corporate sector purchase programme EUR 65.0 billion +EUR 2.0 billion -
Public sector purchase programme EUR 1,371.4 billion +EUR 17.2 billion -
Securities Markets Programme EUR 99.4 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 1.7 billion to EUR 953.6 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 382,061 0
2 Claims on non-euro area residents denominated in foreign currency 324,735 1,568
  2.1 Receivables from the IMF 77,799 −619
  2.2 Balances with banks and security investments, external loans and other external assets 246,936 2,187
3 Claims on euro area residents denominated in foreign currency 34,660 −1,711
4 Claims on non-euro area residents denominated in euro 19,024 155
  4.1 Balances with banks, security investments and loans 19,024 155
  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 583,124 −1,559
  5.1 Main refinancing operations 28,007 −1,592
  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 623 33
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 80,972 −465
7 Securities of euro area residents denominated in euro 2,101,761 17,825
  7.1 Securities held for monetary policy purposes 1,787,932 19,218
  7.2 Other securities 313,829 −1,393
8 General government debt denominated in euro 26,410 0
9 Other assets 235,146 1,138
Total assets 3,787,893 16,950
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 1,110,054 −869
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,422,631 −28,436
  2.1 Current accounts (covering the minimum reserve system) 953,558 −1,712
  2.2 Deposit facility 469,039 −26,723
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 33 0
3 Other liabilities to euro area credit institutions denominated in euro 9,457 931
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 293,930 41,963
  5.1 General government 185,612 41,429
  5.2 Other liabilities 108,318 535
6 Liabilities to non-euro area residents denominated in euro 147,738 2,914
7 Liabilities to euro area residents denominated in foreign currency 8,626 174
8 Liabilities to non-euro area residents denominated in foreign currency 12,173 234
  8.1 Deposits, balances and other liabilities 12,173 234
  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 229,591 39
11 Revaluation accounts 394,418 0
12 Capital and reserves 100,013 0
Total liabilities 3,787,893 16,950

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