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  • PRESS RELEASE

Consolidated financial statement of the Eurosystem as at 1 October 2021

6 October 2021

In the week ending 1 October 2021 the increase of EUR 3.1 billion in gold and gold receivables (asset item 1) primarily reflected the quarterly revaluation adjustments.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) rose by EUR 5.9 billion to EUR 319.8 billion. This change was mainly due 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) decreased by EUR 87.9 billion to EUR 1,435.2 billion, mainly owing to the change in the level of the deposit facility (liability item 2.2).

Claims on non-euro area residents denominated in euro (asset item 4) fell by EUR 3 billion to EUR 10.7 billion, mainly owing to maturing Eurosystem operations providing euro liquidity to non-euro area central banks (further details can be found on the ECB’s website under “Central bank liquidity lines”).

Base money (liability items 1, 2.1 and 2.2) increased by EUR 59.6 billion to EUR 6,037.9 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 1 October 2021

Weekly change – purchases

Weekly change – redemptions

Weekly change – quarter-end adjustments

Covered bond purchase programme 1

EUR 0.4 billion

-

-

-EUR 0.0 billion

Securities Markets Programme

EUR 6.5 billion

-

-

+EUR 0.0 billion

Covered bond purchase programme 2

EUR 2.4 billion

-

-

+EUR 0.0 billion

Covered bond purchase programme 3

EUR 296.2 billion

+EUR 0.8 billion

-EUR 1.5 billion

-EUR 0.4 billion

Asset-backed securities purchase programme

EUR 26.2 billion

+EUR 0.4 billion

-EUR 0.2 billion

-EUR 0.0 billion

Public sector purchase programme

EUR 2,451.6 billion

+EUR 7.2 billion

-EUR 3.0 billion

-EUR 6.0 billion

Corporate sector purchase programme

EUR 296.7 billion

+EUR 0.3 billion

-EUR 0.1 billion

-EUR 0.4 billion

Pandemic emergency purchase programme

EUR 1,404.2 billion

+EUR 19.1 billion

-EUR 7.0 billion

-EUR 3.8 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 1 October 2021 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 1,490.241 per fine oz.

USD: 1.1579 per EUR

JPY: 129.67 per EUR

CNY: 7.4847 per EUR

Special drawing rights: EUR 1.2172 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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