Consolidated financial statement of the Eurosystem as at 3 March 2017

7 March 2017

Items not related to monetary policy operations

In the week ending 3 March 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 0.2 billion to EUR 280.4 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
2 March 2017 7-day US dollar liquidity-providing reverse transaction USD 0.9 billion USD 0.5 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 1.9 billion to EUR 310.6 billion. Banknotes in circulation (liability item 1) increased by EUR 2.7 billion to EUR 1,113.5 billion. Liabilities to general government (liability item 5.1) decreased by EUR 37 billion to EUR 140.4 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 29.8 billion to EUR 77.5 billion. On Wednesday, 1 March 2017, a main refinancing operation (asset item 5.1) of EUR 30.8 billion matured and a new one of EUR 25.3 billion, with a maturity of one week, 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 preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 501.8 billion (compared with EUR 477.4 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 18.8 billion to EUR 1,825.9 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 3 March 2017 Weekly change – purchases Weekly change – redemptions
Covered bond purchase programme 1 EUR 10.9 billion - -EUR 0.1 billion
Covered bond purchase programme 2 EUR 6.6 billion - -EUR 0.0 billion
Covered bond purchase programme 3 EUR 213.1 billion +EUR 1.1 billion -EUR 0.2 billion
Asset-backed securities purchase programme EUR 23.6 billion +EUR 0.1 billion -EUR 0.1 billion
Corporate sector purchase programme EUR 68.3 billion +EUR 1.8 billion -EUR 0.1 billion
Public sector purchase programme EUR 1,403.9 billion +EUR 16.2 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) increased by EUR 9 billion to EUR 966.3 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 323,849 −599
  2.1 Receivables from the IMF 77,799 1
  2.2 Balances with banks and security investments, external loans and other external assets 246,050 −600
3 Claims on euro area residents denominated in foreign currency 34,122 −1,491
4 Claims on non-euro area residents denominated in euro 19,403 299
  4.1 Balances with banks, security investments and loans 19,403 299
  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 579,294 −5,448
  5.1 Main refinancing operations 25,253 −5,577
  5.2 Longer-term refinancing operations 553,809 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 232 129
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 83,478 2,381
7 Securities of euro area residents denominated in euro 2,136,495 16,905
  7.1 Securities held for monetary policy purposes 1,825,861 18,796
  7.2 Other securities 310,635 −1,892
8 General government debt denominated in euro 26,410 0
9 Other assets 235,229 51
Total assets 3,820,341 12,098
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 1,113,485 2,727
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,468,137 33,338
  2.1 Current accounts (covering the minimum reserve system) 966,321 8,969
  2.2 Deposit facility 501,782 24,368
  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 11,466 1,447
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 254,452 −35,297
  5.1 General government 140,436 −37,030
  5.2 Other liabilities 114,015 1,733
6 Liabilities to non-euro area residents denominated in euro 168,439 8,554
7 Liabilities to euro area residents denominated in foreign currency 7,680 −1,806
8 Liabilities to non-euro area residents denominated in foreign currency 10,587 −456
  8.1 Deposits, balances and other liabilities 10,587 −456
  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 231,814 3,586
11 Revaluation accounts 394,418 0
12 Capital and reserves 100,600 6
Total liabilities 3,820,341 12,098

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