Consolidated financial statement of the Eurosystem as at 4 October 2019

9 October 2019

In the week ending 4 October 2019 the increase of EUR 42.2 billion in gold and gold receivables (asset item 1) reflected quarterly revaluation adjustments as well as transactions in gold 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) increased by EUR 10.8 billion to EUR 299.9 billion. This change was due mainly to the effects of the quarterly revaluation of assets and liabilities.

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 2 billion to EUR 209.1 billion.

Base money (liability items 1, 2.1 and 2.2) increased by EUR 37.7 billion to EUR 3,118.5 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 4 October 2019

Weekly change – purchases

Weekly change – redemptions

Weekly change – quarter-end adjustments

Covered bond purchase programme 1

EUR 2.8 billion

-

-

+EUR 0.0 billion

Covered bond purchase programme 2

EUR 3.0 billion

-

-EUR 0.1 billion

+EUR 0.0 billion

Covered bond purchase programme 3

EUR 260.6 billion

+EUR 0.6 billion

-EUR 0.5 billion

-EUR 0.5 billion

Asset-backed securities purchase programme

EUR 25.9 billion

+EUR 0.2 billion

-EUR 0.1 billion

-EUR 0.0 billion

Corporate sector purchase programme

EUR 177.1 billion

+EUR 0.2 billion

-EUR 0.1 billion

-EUR 0.3 billion

Public sector purchase programme

EUR 2,087.6 billion

+EUR 5.4 billion

-EUR 1.6 billion

-EUR 6.6 billion

Securities Markets Programme

EUR 52.1 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 30 September 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 1,363.670 per fine oz.

USD: 1.0889 per EUR

JPY: 117.59 per EUR

CNY: 7.7784 per EUR

Special drawing rights: EUR 1.2506 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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