Consolidated financial statement of the Eurosystem as at 2 September 2016

6 September 2016

Items not related to monetary policy operations

In the week ending 2 September 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 1 billion to EUR 271.5 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
1 September 2016 7-day US dollar liquidity-providing reverse transaction USD 1,340 million USD 350 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) decreased by EUR 0.5 billion to EUR 336.6 billion. Banknotes in circulation (liability item 1) increased by EUR 2.4 billion to EUR 1,095.5 billion. Liabilities to general government (liability item 5.1) decreased by EUR 53.4 billion to EUR 118.2 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 32.7 billion to EUR 147.6 billion. On Wednesday, 31 August 2016, a main refinancing operation (asset item 5.1) of EUR 42.8 billion matured and a new one of EUR 43.8 billion, with a maturity of one week, was settled.

During the week, a longer-term refinancing operation (asset item 5.2) of EUR 6.3 billion matured and a new one of EUR 5 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (approximately the same as in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 378.9 billion (compared with EUR 346.4 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 13.8 billion to EUR 1,365.6 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 2 September 2016 Difference compared with 26 August 2016 – purchases Difference compared with 26 August 2016 – redemptions
Covered bond purchase programme 1 EUR 16.4 billion - -
Covered bond purchase programme 2 EUR 7.4 billion - -
Covered bond purchase programme 3 EUR 190.7 billion +EUR 1.6 billion -EUR 0.0 billion
Asset-backed securities purchase programme EUR 20.1 billion - -EUR 0.1 billion
Corporate sector purchase programme EUR 20.5 billion +EUR 1.2 billion -
Public sector purchase programme EUR 1,001.9 billion +EUR 11.1 billion -
Securities Markets Programme EUR 108.4 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) increased by EUR 24 billion to EUR 764 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 413,141 0
2 Claims on non-euro area residents denominated in foreign currency 311,265 1,209
  2.1 Receivables from the IMF 77,308 64
  2.2 Balances with banks and security investments, external loans and other external assets 233,957 1,145
3 Claims on euro area residents denominated in foreign currency 30,527 −2,092
4 Claims on non-euro area residents denominated in euro 17,348 124
  4.1 Balances with banks, security investments and loans 17,348 124
  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 526,527 −268
  5.1 Main refinancing operations 43,781 1,004
  5.2 Longer-term refinancing operations 482,726 −1,255
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 20 −16
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 96,285 633
7 Securities of euro area residents denominated in euro 1,702,225 13,246
  7.1 Securities held for monetary policy purposes 1,365,578 13,755
  7.2 Other securities 336,647 −509
8 General government debt denominated in euro 26,477 0
9 Other assets 217,979 −1,564
Total assets 3,341,775 11,288
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 1,095,501 2,417
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,142,962 56,500
  2.1 Current accounts (covering the minimum reserve system) 764,033 24,034
  2.2 Deposit facility 378,878 32,452
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 50 14
3 Other liabilities to euro area credit institutions denominated in euro 4,147 −4
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 216,992 −53,184
  5.1 General government 118,152 −53,426
  5.2 Other liabilities 98,840 242
6 Liabilities to non-euro area residents denominated in euro 85,572 4,336
7 Liabilities to euro area residents denominated in foreign currency 3,237 164
8 Liabilities to non-euro area residents denominated in foreign currency 8,591 −31
  8.1 Deposits, balances and other liabilities 8,591 −31
  8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 58,486 0
10 Other liabilities 204,530 1,091
11 Revaluation accounts 420,923 0
12 Capital and reserves 100,835 0
Total liabilities 3,341,775 11,288

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