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Consolidated financial statement of the Eurosystem as at 8 July 2016

12 July 2016

Items not related to monetary policy operations

In the week ending 8 July 2016 gold and gold receivables (asset item 1) increased by EUR 1 million owing to the purchase of gold coin by one Eurosystem national central bank.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 0.3 billion to EUR 275.1 billion. This change was due to the customer and portfolio transactions carried out by Eurosystem central banks during the period under review.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
7 July 2016 7-day US dollar liquidity-providing reverse transaction USD 1.5 billion USD 2 billion

The above liquidity-providing transaction was 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 2.6 billion to EUR 345.3 billion. Banknotes in circulation (liability item 1) increased by EUR 3.5 billion to EUR 1,092.1 billion. Liabilities to general government (liability item 5.1) decreased by EUR 13.4 billion to EUR 140.9 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 20.6 billion to EUR 189 billion. On Wednesday, 6 July 2016, a main refinancing operation (asset item 5.1) of EUR 53.1 billion matured and a new one of EUR 44.1 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 previous week), while recourse to the deposit facility (liability item 2.2) was EUR 342.1 billion (compared with EUR 330.3 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 18.1 billion to EUR 1,243.7 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 8 July 2016 Difference compared with 1 July 2016 – purchases Difference compared with 1 July 2016 – redemptions
Covered bond purchase programme 1 EUR 17.5 billion - -EUR 0.4 billion
Covered bond purchase programme 2 EUR 7.6 billion - -EUR 0.1 billion
Covered bond purchase programme 3 EUR 184.1 billion +EUR 0.7 billion -EUR 0.2 billion
Asset-backed securities purchase programme EUR 20.2 billion +EUR 0.3 billion -
Corporate sector purchase programme EUR 8.5 billion +EUR 1.7 billion -
Public sector purchase programme EUR 894.6 billion +EUR 16.1 billion -
Securities Markets Programme EUR 111.2 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 4.5 billion to EUR 688.5 billion.


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