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Consolidated financial statement of the Eurosystem as at 9 February 2018: commentary

13 February 2018

In the week ending 9 February 2018 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 1.1 billion to EUR 254.2 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) decreased by EUR 4.3 billion to EUR 68.1 billion.

Base money (liability items 1, 2.1 and 2.2) increased by EUR 2.9 billion to EUR 3,172.9 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 9 February 2018

Weekly change – purchases

Weekly change – redemptions

Covered bond purchase programme 1

EUR 6.0 billion

-

-

Covered bond purchase programme 2

EUR 4.6 billion

-

-EUR 0.2 billion

Covered bond purchase programme 3

EUR 246.1 billion

+EUR 1.8 billion

-EUR 0.4 billion

Asset-backed securities purchase programme

EUR 25.3 billion

+EUR 0.1 billion

-

Corporate sector purchase programme

EUR 139.1 billion

+EUR 1.3 billion

-EUR 0.1 billion

Public sector purchase programme

EUR 1,919.1 billion

+EUR 7.9 billion

-EUR 1.3 billion

Securities Markets Programme

EUR 85.0 billion

-

-

Revisions to some items in the statement published on 6 February 2018

In the consolidated financial statement of the Eurosystem as at 2 February 2018 (published on 6 February 2018), balances with banks and security investments, external loans and other external assets (asset item 2.2) should have shown a balance of EUR 225,941 million, instead of EUR 225,931 million, and claims on euro area residents denominated in foreign currency (asset item 3) should have read EUR 32,702 million, instead of EUR 32,711 million.

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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