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

6 March 2018

In the week ending 2 March 2018 gold and gold receivables (asset item 1) decreased by EUR 22 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) increased by EUR 0.2 billion to EUR 255.2 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) rose by EUR 14.9 billion to EUR 99.4 billion.

Base money (liability items 1, 2.1 and 2.2) increased by EUR 55 billion to EUR 3,159.4 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 March 2018

Weekly change – purchases

Weekly change – redemptions

Covered bond purchase programme 1

EUR 5.8 billion


-EUR 0.2 billion

Covered bond purchase programme 2

EUR 4.5 billion


-EUR 0.1 billion

Covered bond purchase programme 3

EUR 247.7 billion

+EUR 1.2 billion

-EUR 0.7 billion

Asset-backed securities purchase programme

EUR 25.0 billion

+EUR 0.2 billion

-EUR 0.3 billion

Corporate sector purchase programme

EUR 143.3 billion

+EUR 1.4 billion

-EUR 0.0 billion

Public sector purchase programme

EUR 1,933.9 billion

+EUR 6.8 billion

-EUR 1.5 billion

Securities Markets Programme

EUR 85.0 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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