Consolidated financial statement of the Eurosystem as at 22 July 2016

Items not related to monetary policy operations

In the week ending 22 July 2016 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) decreased by EUR 0.4 billion to EUR 271.2 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

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) remained virtually unchanged at EUR 342.3 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.3 billion to EUR 1,093.5 billion. Liabilities to general government (liability item 5.1) increased by EUR 35.5 billion to EUR 213.3 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 14 billion to EUR 210 billion. On Wednesday, 20 July 2016, a main refinancing operation (asset item 5.1) of EUR 42.5 billion matured and a new one of EUR 43.6 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 virtually nil in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 320.6 billion (compared with EUR 333.3 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 17.8 billion to EUR 1,281.4 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.

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 9.8 billion to EUR 664.9 billion.