Consolidated financial statement of the Eurosystem as at 10 March 2017

14 March 2017

Items not related to monetary policy operations

In the week ending 10 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 1.5 billion to EUR 281.9 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
9 March 2017 7-day US dollar liquidity-providing reverse transaction USD 0.5 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 billion to EUR 309.6 billion. Banknotes in circulation (liability item 1) increased by EUR 0.3 billion to EUR 1,113.8 billion. Liabilities to general government (liability item 5.1) rose by EUR 2.1 billion to EUR 142.5 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 24.9 billion to EUR 52.6 billion. On Wednesday, 8 March 2017, a main refinancing operation (asset item 5.1) of EUR 25.3 billion matured and a new one of EUR 23.9 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.5 billion (compared with EUR 0.2 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 525.5 billion (compared with EUR 501.8 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 18.3 billion to EUR 1,844.2 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 10 March 2017 Weekly change – purchases Weekly change – redemptions
Covered bond purchase programme 1 EUR 10.7 billion - -EUR 0.3 billion
Covered bond purchase programme 2 EUR 6.6 billion - -
Covered bond purchase programme 3 EUR 213.8 billion +EUR 0.8 billion -EUR 0.2 billion
Asset-backed securities purchase programme EUR 23.8 billion +EUR 0.3 billion -EUR 0.0 billion
Corporate sector purchase programme EUR 70.4 billion +EUR 2.1 billion -
Public sector purchase programme EUR 1,419.4 billion +EUR 15.6 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) remained virtually unchanged at 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 325,335 1,486
  2.1 Receivables from the IMF 77,782 −17
  2.2 Balances with banks and security investments, external loans and other external assets 247,553 1,503
3 Claims on euro area residents denominated in foreign currency 34,638 516
4 Claims on non-euro area residents denominated in euro 19,686 283
  4.1 Balances with banks, security investments and loans 19,686 283
  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 578,139 −1,155
  5.1 Main refinancing operations 23,880 −1,373
  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 450 218
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 82,666 −812
7 Securities of euro area residents denominated in euro 2,153,799 17,304
  7.1 Securities held for monetary policy purposes 1,844,165 18,304
  7.2 Other securities 309,634 −1,000
8 General government debt denominated in euro 26,410 0
9 Other assets 237,121 1,892
Total assets 3,839,855 19,514
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 1,113,760 275
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,491,895 23,758
  2.1 Current accounts (covering the minimum reserve system) 966,322 1
  2.2 Deposit facility 525,530 23,748
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 42 9
3 Other liabilities to euro area credit institutions denominated in euro 15,353 3,886
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 257,094 2,643
  5.1 General government 142,513 2,076
  5.2 Other liabilities 114,581 566
6 Liabilities to non-euro area residents denominated in euro 156,986 −11,453
7 Liabilities to euro area residents denominated in foreign currency 5,977 −1,703
8 Liabilities to non-euro area residents denominated in foreign currency 12,789 2,202
  8.1 Deposits, balances and other liabilities 12,789 2,202
  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 231,721 −94
11 Revaluation accounts 394,418 0
12 Capital and reserves 100,600 0
Total liabilities 3,839,855 19,514

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