Consolidated financial statement of the Eurosystem as at 2 February 2018: commentary

6 February 2018

In the week ending 2 February 2018 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 0.2 billion to EUR 253.1 billion.

As a result of the Eurosystem’s open market operations and standing facilities, net lending to credit institutions (asset item 5 minus liability items 2.2, 2.3, 2.4, 2.5 and 4) fell by EUR 9.2 billion to EUR 72.3 billion.

Base money (liability items 1, 2.1 and 2.2) increased by EUR 25.7 billion to EUR 3,170 billion.

The table below provides the detailed breakdown of securities held for monetary policy purposes (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 February 2018

Weekly change – purchases

Weekly change – redemptions

Covered bond purchase programme 1

EUR 6.0 billion

-

-

Covered bond purchase programme 2

EUR 4.7 billion

-

-EUR 0.0 billion

Covered bond purchase programme 3

EUR 244.7 billion

+EUR 0.9 billion

-EUR 1.3 billion

Asset-backed securities purchase programme

EUR 25.2 billion

+EUR 0.1 billion

-EUR 0.2 billion

Corporate sector purchase programme

EUR 137.9 billion

+EUR 1.1 billion

-EUR 0.1 billion

Public sector purchase programme

EUR 1,912.6 billion

+EUR 5.8 billion

-EUR 1.2 billion

Securities Markets Programme

EUR 85.0 billion

-

-EUR 4.2 billion

The content and format of the weekly financial statement are set out in Annexes IV to VI of Guideline (EU) 2016/2249 of the European Central Bank of 3 November 2016 on the legal framework for accounting and financial reporting in the European System of Central Banks (ECB/2016/34).

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