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Consolidated financial statement of the Eurosystem as at 24 June 2016

28 June 2016

Items not related to monetary policy operations

In the week ending 24 June 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 0.9 billion to EUR 264.5 billion. This change was due to the customer and portfolio transactions carried out by Eurosystem central banks during the period under review.

During the week, the Eurosystem did not conduct any liquidity-providing transactions 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 0.5 billion to EUR 346.1 billion. Banknotes in circulation (liability item 1) increased by EUR 0.5 billion to EUR 1,082.2 billion. Liabilities to general government (liability item 5.1) increased by EUR 49.2 billion to EUR 233 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) increased by EUR 24.3 billion to EUR 203.3 billion. On Wednesday, 22 June 2016, a main refinancing operation (asset item 5.1) of EUR 49.1 billion matured and a new one of EUR 49.9 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (virtually unchanged from the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 297.6 billion (compared with EUR 321.2 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 21.5 billion to EUR 1,212.9 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.

Monetary policy securities portfolios Reported value as at 24 June 2016

Difference compared with

17 June 2016 – purchases

Difference compared with

17 June 2016 – redemptions

Covered bond purchase programme 1 EUR 17.9 billion - -EUR 0.2 billion
Covered bond purchase programme 2 EUR 7.7 billion - -EUR 0.1 billion
Covered bond purchase programme 3 EUR 183.0 billion +EUR 2.2 billion -EUR 0.2 billion
Asset-backed securities purchase programme EUR 19.7 billion +EUR 0.3 billion -EUR 0.2 billion
Corporate sector purchase programme EUR 4.9 billion +EUR 2.6 billion -
Public sector purchase programme EUR 868.8 billion +EUR 17.1 billion -
Securities Markets Programme EUR 111.0 billion - -

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 1.9 billion to EUR 613.1 billion.

Assets (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Gold and gold receivables 377,277 0
2 Claims on non-euro area residents denominated in foreign currency 299,619 1,635
  2.1 Receivables from the IMF 76,551 −20
  2.2 Balances with banks and security investments, external loans and other external assets 223,067 1,656
3 Claims on euro area residents denominated in foreign currency 30,078 −1,002
4 Claims on non-euro area residents denominated in euro 18,287 528
  4.1 Balances with banks, security investments and loans 18,287 528
  4.2 Claims arising from the credit facility under ERM II 0 0
5 Lending to euro area credit institutions related to monetary policy operations denominated in euro 501,186 791
  5.1 Main refinancing operations 49,883 743
  5.2 Longer-term refinancing operations 451,177 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 126 48
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 103,549 −4,173
7 Securities of euro area residents denominated in euro 1,558,993 21,986
  7.1 Securities held for monetary policy purposes 1,212,942 21,496
  7.2 Other securities 346,051 490
8 General government debt denominated in euro 26,984 0
9 Other assets 215,121 1,742
Total assets 3,131,095 21,506
Liabilities (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Banknotes in circulation 1,082,176 493
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 910,950 −21,662
  2.1 Current accounts (covering the minimum reserve system) 613,059 1,861
  2.2 Deposit facility 297,632 −23,571
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 259 48
3 Other liabilities to euro area credit institutions denominated in euro 3,777 −207
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 332,298 44,900
  5.1 General government 232,957 49,216
  5.2 Other liabilities 99,341 −4,316
6 Liabilities to non-euro area residents denominated in euro 56,556 −3,118
7 Liabilities to euro area residents denominated in foreign currency 3,136 210
8 Liabilities to non-euro area residents denominated in foreign currency 4,502 −504
  8.1 Deposits, balances and other liabilities 4,502 −504
  8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 57,542 0
10 Other liabilities 203,329 −427
11 Revaluation accounts 375,994 0
12 Capital and reserves 100,836 1,821
Total liabilities 3,131,095 21,506
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