Consolidated financial statement of the Eurosystem as at 24 February 2017

28 February 2017

Items not related to monetary policy operations

In the week ending 24 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) increased by EUR 0.9 billion to EUR 280.3 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
23 February 2017 7-day US dollar liquidity-providing reverse transaction USD 0.1 billion USD 0.9 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 1.3 billion to EUR 312.5 billion. Banknotes in circulation (liability item 1) increased by EUR 0.7 billion to EUR 1,110.8 billion. Liabilities to general government (liability item 5.1) decreased by EUR 8.1 billion to EUR 177.5 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 6.8 billion to EUR 107.3 billion. On Wednesday, 22 February 2017, a main refinancing operation (asset item 5.1) of EUR 28 billion matured and a new one of EUR 30.8 billion, with a maturity of one week, was settled. On Thursday, 23 February 2017, a longer-term refinancing operation (asset item 5.2) of EUR 3.3 billion matured and a new one of EUR 2.6 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with EUR 0.6 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 477.4 billion (compared with EUR 469 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 19.1 billion to EUR 1,807.1 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 24 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 - -
Covered bond purchase programme 3 EUR 212.2 billion +EUR 0.9 billion -
Asset-backed securities purchase programme EUR 23.5 billion +EUR 0.5 billion -EUR 0.2 billion
Corporate sector purchase programme EUR 66.6 billion +EUR 1.7 billion -EUR 0.0 billion
Public sector purchase programme EUR 1,387.7 billion +EUR 16.3 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) increased by EUR 3.8 billion to EUR 957.4 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 324,448 −287
  2.1 Receivables from the IMF 77,798 0
  2.2 Balances with banks and security investments, external loans and other external assets 246,649 −287
3 Claims on euro area residents denominated in foreign currency 35,614 954
4 Claims on non-euro area residents denominated in euro 19,104 80
  4.1 Balances with banks, security investments and loans 19,104 80
  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 584,742 1,618
  5.1 Main refinancing operations 30,830 2,824
  5.2 Longer-term refinancing operations 553,809 −686
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 103 −520
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 81,096 124
7 Securities of euro area residents denominated in euro 2,119,591 17,829
  7.1 Securities held for monetary policy purposes 1,807,064 19,132
  7.2 Other securities 312,526 −1,303
8 General government debt denominated in euro 26,410 0
9 Other assets 235,177 31
Total assets 3,808,242 20,349
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 1,110,758 704
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,434,799 12,168
  2.1 Current accounts (covering the minimum reserve system) 957,351 3,793
  2.2 Deposit facility 477,414 8,375
  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 10,019 563
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 289,748 −4,181
  5.1 General government 177,466 −8,146
  5.2 Other liabilities 112,282 3,964
6 Liabilities to non-euro area residents denominated in euro 159,885 12,147
7 Liabilities to euro area residents denominated in foreign currency 9,486 860
8 Liabilities to non-euro area residents denominated in foreign currency 11,043 −1,129
  8.1 Deposits, balances and other liabilities 11,043 −1,129
  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 228,228 −1,362
11 Revaluation accounts 394,418 0
12 Capital and reserves 100,594 580
Total liabilities 3,808,242 20,349

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