Consolidated financial statement of the Eurosystem as at 5 January 2018: commentary
In the week ending 5 January 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) decreased by EUR 1.4 billion to EUR 262.6 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) fell by EUR 4.4 billion to EUR 64.1 billion.
Base money (liability items 1, 2.1 and 2.2) increased by EUR 72.2 billion to EUR 3,124.6 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 5 January 2018 |
Weekly change – purchases |
Weekly change – redemptions |
Covered bond purchase programme 1 |
EUR 6.1 billion |
- |
- |
Covered bond purchase programme 2 |
EUR 4.8 billion |
- |
- |
Covered bond purchase programme 3 |
EUR 240.8 billion |
+EUR 0.1 billion |
- |
Asset-backed securities purchase programme |
EUR 25.0 billion |
+EUR 0.0 billion |
- |
Corporate sector purchase programme |
EUR 131.9 billion |
+EUR 0.3 billion |
-EUR 0.0 billion |
Public sector purchase programme |
EUR 1,891.3 billion |
+EUR 3.0 billion |
-EUR 0.5 billion |
Securities Markets Programme |
EUR 89.1 billion |
- |
- |
Revisions to some items in the statement published on 4 January 2018
On account of revisions to quarter-end revaluations of some assets and liabilities, it has been necessary to update the consolidated weekly financial statement of the Eurosystem as at 29 December 2017 (published on 4 January 2018). The following table provides an overview of the items affected:
Asset items: |
Revised amount: |
Published amount: |
1 Gold and gold receivables |
EUR 376,300 million |
EUR 376,463 million |
2.1 Receivables from the IMF |
EUR 70,214 million |
EUR 70,191 million |
2.2 Balances with banks and security investments, external loans and other external assets |
EUR 226,002 million |
EUR 225,963 million |
9 Other assets |
EUR 254,010 million |
EUR 254,037 million |
Liability items: |
||
9 Counterpart of special drawing rights allocated by the IMF |
EUR 55,218 million |
EUR 55,205 million |
10 Other liabilities |
EUR 225,543 million |
EUR 225,519 million |
11 Revaluation accounts |
EUR 357,852 million |
EUR 358,016 million |
Furthermore, other liabilities to other euro area residents denominated in euro (liability item 5.2) should have shown a balance of EUR 118,432 million, instead of EUR 119,182 million, and liabilities to non-euro area residents denominated in euro (liability item 6) should have read EUR 355,381 million, instead of EUR 354,631 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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