Consolidated financial statement of the Eurosystem as at 18 September 2015

22 September 2015

Items not related to monetary policy operations

In the week ending 18 September 2015 gold and gold receivables (asset item 1) decreased by EUR 2 million owing to the sale of gold by one Eurosystem national central bank for the purpose of producing a commemorative coin.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) remained virtually unchanged at EUR 264.3 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
17 September 2015  7-day US dollar liquidity-providing reverse transaction USD 141 million USD 144 million

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) remained virtually unchanged at EUR 358.3 billion. Banknotes in circulation (liability item 1) decreased by EUR 2 billion to EUR 1,051.9 billion. Liabilities to general government (liability item 5.1) increased by EUR 22.2 billion to EUR 80.3 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 20.1 billion to EUR 387.3 billion. On Wednesday, 16 September 2015, a main refinancing operation (asset item 5.1) of EUR 70.9 billion matured and a new one of EUR 70.7 billion, with a maturity of seven days, was settled.

Recourse to the marginal lending facility (asset item 5.5) remained virtually unchanged at EUR 0.1 billion, while recourse to the deposit facility (liability item 2.2) was EUR 139.5 billion (compared with EUR 159.9 billion in the previous week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 14.4 billion to EUR 617.2 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 18 September 2015 Difference compared with 11 September 2015 – purchases Difference compared with 11 September 2015 – redemptions
Covered bond purchase programme 1 EUR 22.2 billion - -EUR 0.2 billion
Covered bond purchase programme 2 EUR 10.5 billion - -
Covered bond purchase programme 3 EUR 118.3 billion +EUR 2.2 billion -
Asset-backed securities purchase programme EUR 12.0 billion +EUR 0.1 billion -
Public sector purchase programme EUR 326.7 billion +EUR 12.2 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 2.9 billion to EUR 469.4 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 364,456 −2
2 Claims on non-euro area residents denominated in foreign currency 290,188 1,426
  2.1 Receivables from the IMF 79,050 −75
  2.2 Balances with banks and security investments, external loans and other external assets 211,138 1,500
3 Claims on euro area residents denominated in foreign currency 41,046 −907
4 Claims on non-euro area residents denominated in euro 20,588 −548
  4.1 Balances with banks, security investments and loans 20,588 −548
  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 526,955 −242
  5.1 Main refinancing operations 70,665 −244
  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 63 2
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 136,605 2,515
7 Securities of euro area residents denominated in euro 975,510 14,426
  7.1 Securities held for monetary policy purposes 617,219 14,392
  7.2 Other securities 358,291 34
8 General government debt denominated in euro 25,177 0
9 Other assets 221,790 −1,634
Total assets 2,602,314 15,034
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 1,051,870 −2,033
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 609,021 −17,502
  2.1 Current accounts (covering the minimum reserve system) 469,353 2,883
  2.2 Deposit facility 139,525 −20,386
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 143 1
3 Other liabilities to euro area credit institutions denominated in euro 4,822 −28
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 155,377 30,181
  5.1 General government 80,332 22,222
  5.2 Other liabilities 75,045 7,959
6 Liabilities to non-euro area residents denominated in euro 35,936 2,359
7 Liabilities to euro area residents denominated in foreign currency 2,340 175
8 Liabilities to non-euro area residents denominated in foreign currency 5,134 376
  8.1 Deposits, balances and other liabilities 5,134 376
  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 213,735 1,505
11 Revaluation accounts 367,423 0
12 Capital and reserves 97,201 0
Total liabilities 2,602,314 15,034

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