Consolidated financial statement of the Eurosystem as at 19 August 2016

Items not related to monetary policy operations

In the week ending 19 August 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) remained virtually unchanged at EUR 271.4 billion.

US dollar liquidity operations

The above liquidity-providing transactions were conducted by the Eurosystem 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) decreased by EUR 0.4 billion to EUR 337.2 billion. Banknotes in circulation (liability item 1) fell by EUR 3.6 billion to EUR 1,096.8 billion. Liabilities to general government (liability item 5.1) increased by EUR 16.3 billion to EUR 142.7 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) decreased by EUR 3.8 billion to EUR 166.9 billion. On Wednesday, 17 August 2016, a main refinancing operation (asset item 5.1) of EUR 41.6 billion matured and a new one of EUR 41.7 billion, with a maturity of one week, was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (approximately the same as in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 358.7 billion (compared with EUR 354.8 billion in the preceding week). The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 13.6 billion to EUR 1,339.3 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.

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) decreased by EUR 1.6 billion to EUR 740.9 billion.