Consolidated financial statement of the Eurosystem as at 28 June 2019
3 July 2019
In the week ending 28 June 2019 the increase of EUR 29.8 billion in gold and gold receivables (asset item 1) reflected quarterly revaluation adjustments as well as a net purchase of gold coin amounting to EUR 1 million by one Eurosystem national central bank.
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 288.1 billion. This change was due to the effects of the quarterly revaluation of assets and liabilities, which more than offset the increase of EUR 1.4 billion on account of customer and portfolio transactions.
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) decreased by EUR 35.5 billion to EUR 119.7 billion.
Base money (liability items 1, 2.1 and 2.2) fell by EUR 15.6 billion to EUR 3,130.7 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 28 June 2019 |
Weekly change – purchases |
Weekly change – redemptions |
Weekly change – quarter-end adjustments |
Covered bond purchase programme 1 |
EUR 3.0 billion |
- |
-EUR 0.2 billion |
- EUR 0.0 billion |
Covered bond purchase programme 2 |
EUR 3.4 billion |
- |
- |
+EUR 0.0 billion |
Covered bond purchase programme 3 |
EUR 261.3 billion |
+EUR 0.6 billion |
-EUR 0.7 billion |
-EUR 0.5 billion |
Asset-backed securities purchase programme |
EUR 25.7 billion |
+EUR 0.3 billion |
-EUR 0.6 billion |
- EUR 0.0 billion |
Corporate sector purchase programme |
EUR 177.7 billion |
+EUR 0.1 billion |
-EUR 0.1 billion |
-EUR 0.3 billion |
Public sector purchase programme |
EUR 2,088.9 billion |
+EUR 2.2 billion |
-EUR 0.4 billion |
-EUR 5.3 billion |
Securities Markets Programme |
EUR 60.4 billion |
- |
- |
+EUR 0.1 billion |
Quarter-end revaluation of the Eurosystem’s assets and liabilities
In line with the Eurosystem’s harmonised accounting rules, gold, foreign exchange and financial instruments (including part of the securities holdings not purchased for monetary policy purposes) are revalued at market rates and prices as at the end of each quarter.
The net impact of the revaluation on each balance sheet item as at 28 June 2019 is shown in the additional column “Difference compared with last week due to quarter-end adjustments”. The gold price and the principal exchange rates used for the revaluation of balances were as follows:
Gold: EUR 1,242.267 per fine oz.
USD: 1.1380 per EUR
JPY: 122.60 per EUR
CNY: 7.8185 per EUR
Special drawing rights: EUR 1.2216 per SDR
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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