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Consolidated financial statement of the Eurosystem as at 4 September 2015

8 September 2015

Items not related to monetary policy operations

In the week ending 4 September 2015 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 264.4 billion, on account of customer and portfolio transactions and US dollar liquidity-providing operations (see below).

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
3 September 2015  7-day US dollar liquidity-providing reverse transaction USD 135 million USD 136 million

The 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 359.5 billion. Banknotes in circulation (liability item 1) increased by EUR 1 billion to EUR 1,055.1 billion. Liabilities to general government (liability item 5.1) decreased by EUR 17.3 billion to EUR 49.7 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 13.7 billion to EUR 360.2 billion. On Wednesday, 2 September 2015, a main refinancing operation (asset item 5.1) of EUR 70.1 billion matured and a new one of EUR 71 billion, with a maturity of seven days, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with EUR 2.2 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 167 billion (compared with EUR 154.4 billion in the previous week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 13.2 billion to EUR 585.6 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 4 September 2015 Difference compared with 28 August 2015 – purchases Difference compared with 28 August 2015 – redemptions
Covered bond purchase programme 1 EUR 22.3 billion - -EUR 0.2 billion
Covered bond purchase programme 2 EUR 10.5 billion - -
Covered bond purchase programme 3 EUR 112.2 billion +EUR 1.1 billion -
Asset-backed securities purchase programme EUR 11.5 billion +EUR 0.4 billion -
Public sector purchase programme EUR 301.4 billion +EUR 11.9 billion -
Securities Markets Programme EUR 127.6 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 11.2 billion to EUR 449.7 billion.

Correction to the WFS published on 1 September 2015

It should be noted with respect to the consolidated weekly financial statement of the Eurosystem as at 28 August 2015 (published on 1 September 2015) that other assets (asset item 9) should have shown a balance of EUR 228,196 million, instead of EUR 227,346 million, and that banknotes in circulation (liability item 1) should have read EUR 1,054,084 million, instead of EUR 1,053,233 million.

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 364,457 0
2 Claims on non-euro area residents denominated in foreign currency 289,550 32
  2.1 Receivables from the IMF 79,128 −78
  2.2 Balances with banks and security investments, external loans and other external assets 210,422 111
3 Claims on euro area residents denominated in foreign currency 40,674 −304
4 Claims on non-euro area residents denominated in euro 19,472 138
  4.1 Balances with banks, security investments and loans 19,472 138
  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 527,355 −1,113
  5.1 Main refinancing operations 71,040 960
  5.2 Longer-term refinancing operations 456,227 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 88 −2,073
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 130,543 −1,304
7 Securities of euro area residents denominated in euro 945,138 13,480
  7.1 Securities held for monetary policy purposes 585,593 13,162
  7.2 Other securities 359,545 318
8 General government debt denominated in euro 25,177 0
9 Other assets 225,946 −2,250
Total assets 2,568,311 8,679
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 1,055,064 981
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 616,812 23,789
  2.1 Current accounts (covering the minimum reserve system) 449,680 11,175
  2.2 Deposit facility 166,997 12,611
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 135 3
3 Other liabilities to euro area credit institutions denominated in euro 4,648 −125
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 116,295 −15,933
  5.1 General government 49,689 −17,288
  5.2 Other liabilities 66,606 1,355
6 Liabilities to non-euro area residents denominated in euro 34,702 769
7 Liabilities to euro area residents denominated in foreign currency 2,293 −64
8 Liabilities to non-euro area residents denominated in foreign currency 4,107 −443
  8.1 Deposits, balances and other liabilities 4,107 −443
  8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 59,456 0
10 Other liabilities 210,310 −294
11 Revaluation accounts 367,423 0
12 Capital and reserves 97,201 0
Total liabilities 2,568,311 8,679

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