Consolidated financial statement of the Eurosystem as at 24 March 2017

28 March 2017

Items not related to monetary policy operations

In the week ending 24 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 0.4 billion to EUR 282.9 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
23 March 2017 7-day US dollar liquidity-providing reverse transaction USD 1.0 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) decreased by EUR 0.1 billion to EUR 309.8 billion. Banknotes in circulation (liability item 1) fell by EUR 1.7 billion to EUR 1,111.2 billion. Liabilities to general government (liability item 5.1) increased by EUR 43.1 billion to EUR 221.5 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 11.3 billion to EUR 77.9 billion. On Wednesday, 22 March 2017, a main refinancing operation (asset item 5.1) of EUR 26.5 billion matured and a new one of EUR 32.7 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.3 billion (compared with EUR 0.2 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 508.9 billion (compared with EUR 491.3 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 15.8 billion to EUR 1,878.7 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 March 2017 Weekly change – purchases Weekly change – redemptions
Covered bond purchase programme 1 EUR 10.2 billion - -EUR 0.5 billion
Covered bond purchase programme 2 EUR 6.2 billion - -EUR 0.3 billion
Covered bond purchase programme 3 EUR 215.2 billion +EUR 1.6 billion -EUR 1.1 billion
Asset-backed securities purchase programme EUR 24.0 billion +EUR 0.4 billion -EUR 0.2 billion
Corporate sector purchase programme EUR 73.8 billion +EUR 1.5 billion -
Public sector purchase programme EUR 1,449.9 billion +EUR 14.5 billion -EUR 0.1 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 38.1 billion to EUR 946.2 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 326,385 1,748
  2.1 Receivables from the IMF 77,844 −30
  2.2 Balances with banks and security investments, external loans and other external assets 248,541 1,777
3 Claims on euro area residents denominated in foreign currency 32,838 −184
4 Claims on non-euro area residents denominated in euro 19,453 744
  4.1 Balances with banks, security investments and loans 19,453 744
  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 586,816 6,315
  5.1 Main refinancing operations 32,682 6,168
  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 325 147
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 82,497 −3,819
7 Securities of euro area residents denominated in euro 2,188,542 15,668
  7.1 Securities held for monetary policy purposes 1,878,700 15,775
  7.2 Other securities 309,843 −106
8 General government debt denominated in euro 26,410 0
9 Other assets 232,035 −349
Total assets 3,877,037 20,123
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 1,111,196 −1,719
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,455,127 −20,516
  2.1 Current accounts (covering the minimum reserve system) 946,222 −38,134
  2.2 Deposit facility 508,899 17,616
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 6 2
3 Other liabilities to euro area credit institutions denominated in euro 14,064 −1,261
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 340,873 43,016
  5.1 General government 221,500 43,075
  5.2 Other liabilities 119,373 −60
6 Liabilities to non-euro area residents denominated in euro 153,472 607
7 Liabilities to euro area residents denominated in foreign currency 5,014 1,523
8 Liabilities to non-euro area residents denominated in foreign currency 12,025 −381
  8.1 Deposits, balances and other liabilities 12,025 −381
  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 230,982 −1,147
11 Revaluation accounts 394,418 0
12 Capital and reserves 100,602 2
Total liabilities 3,877,037 20,123

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