Consolidated financial statement of the Eurosystem as at 17 March 2017

21 March 2017

Items not related to monetary policy operations

In the week ending 17 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 0.6 billion to EUR 282.5 billion.

US dollar liquidity operations

Value date

Type of transaction

Maturing amount

New amount

16 March 2017

7-day US dollar liquidity-providing reverse transaction

USD 0.9 billion

USD 1.0 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) increased by EUR 0.3 billion to EUR 309.9 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.8 billion to EUR 1,112.9 billion. Liabilities to general government (liability item 5.1) rose by EUR 35.9 billion to EUR 178.4 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) increased by EUR 36.6 billion to EUR 89.2 billion. On Wednesday, 15 March 2017, a main refinancing operation (asset item 5.1) of EUR 23.9 billion matured and a new one of EUR 26.5 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 0.5 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 491.3 billion (compared with EUR 525.5 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 1,862.9 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 March 2017

Weekly change – purchases

Weekly change – redemptions

Covered bond purchase programme 1

EUR 10.7 billion

-

-

Covered bond purchase programme 2

EUR 6.6 billion

-

-

Covered bond purchase programme 3

EUR 214.7 billion

+EUR 1.1 billion

-EUR 0.2 billion

Asset-backed securities purchase programme

EUR 23.9 billion

+EUR 0.1 billion

-EUR 0.1 billion

Corporate sector purchase programme

EUR 72.2 billion

+EUR 1.9 billion

-EUR 0.1 billion

Public sector purchase programme

EUR 1,435.5 billion

+EUR 16.0 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 18 billion to EUR 984.4 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 324,637 −698
  2.1 Receivables from the IMF 77,874 92
  2.2 Balances with banks and security investments, external loans and other external assets 246,763 −790
3 Claims on euro area residents denominated in foreign currency 33,022 −1,617
4 Claims on non-euro area residents denominated in euro 18,709 −977
  4.1 Balances with banks, security investments and loans 18,709 −977
  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 580,501 2,362
  5.1 Main refinancing operations 26,514 2,634
  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 178 −272
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 86,316 3,651
7 Securities of euro area residents denominated in euro 2,172,874 19,075
  7.1 Securities held for monetary policy purposes 1,862,925 18,760
  7.2 Other securities 309,949 315
8 General government debt denominated in euro 26,410 0
9 Other assets 232,383 −4,737
Total assets 3,856,913 17,059
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 1,112,916 −844
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,475,643 −16,252
  2.1 Current accounts (covering the minimum reserve system) 984,357 18,035
  2.2 Deposit facility 491,283 −34,247
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 3 −39
3 Other liabilities to euro area credit institutions denominated in euro 15,325 −27
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 297,858 40,763
  5.1 General government 178,425 35,912
  5.2 Other liabilities 119,433 4,851
6 Liabilities to non-euro area residents denominated in euro 152,865 −4,121
7 Liabilities to euro area residents denominated in foreign currency 3,491 −2,486
8 Liabilities to non-euro area residents denominated in foreign currency 12,406 −383
  8.1 Deposits, balances and other liabilities 12,406 −383
  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 232,129 408
11 Revaluation accounts 394,418 0
12 Capital and reserves 100,600 0
Total liabilities 3,856,913 17,059

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