Consolidated financial statement of the Eurosystem as at 2 December 2016

Items not related to monetary policy operations

In the week ending 2 December 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) increased by EUR 0.6 billion to EUR 275.5 billion.

US dollar liquidity operations

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) increased by EUR 0.4 billion to EUR 324.2 billion. Banknotes in circulation (liability item 1) rose by EUR 8.6 billion to EUR 1,108.4 billion. Liabilities to general government (liability item 5.1) decreased by EUR 37.7 billion to EUR 147 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 22.4 billion to EUR 94.9 billion. On Wednesday, 30 November 2016, a main refinancing operation (asset item 5.1) of EUR 33.7 billion matured and a new one of EUR 36 billion, with a maturity of one week, was settled.

During the week, a longer-term refinancing operation (asset item 5.2) of EUR 5 billion matured and a new one of EUR 3.3 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (virtually unchanged from the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 451.6 billion (compared with EUR 428.8 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 billion to EUR 1,608.1 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) increased by EUR 29.3 billion to EUR 849.7 billion.