Consolidated financial statement of the Eurosystem as at 29 June 2018
4 July 2018
In the week ending 29 June 2018 the decrease of EUR 0.8 billion in gold and gold receivables (asset item 1) reflected quarterly revaluation adjustments.
The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) increased by EUR 11.3 billion to EUR 265.2 billion. This change was due mainly to the effects of the quarterly revaluation of assets and liabilities. The increase on account of customer and portfolio transactions was EUR 0.5 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 45.1 billion to EUR 70.5 billion.
Base money (liability items 1, 2.1 and 2.2) decreased by EUR 41.7 billion to EUR 3,087.5 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 29 June 2018 |
Weekly change – purchases |
Weekly change – redemptions |
Weekly change – quarter-end adjustments |
Covered bond purchase programme 1 |
EUR 4.5 billion |
- |
- |
-EUR 0.0 billion |
Covered bond purchase programme 2 |
EUR 4.1 billion |
- |
- |
+EUR 0.0 billion |
Covered bond purchase programme 3 |
EUR 254.4 billion |
+EUR 1.2 billion |
-EUR 0.4 billion |
-EUR 0.5 billion |
Asset-backed securities purchase programme |
EUR 27.4 billion |
+EUR 0.3 billion |
-EUR 0.3 billion |
-EUR 0.0 billion |
Corporate sector purchase programme |
EUR 162.0 billion |
+EUR 2.3 billion |
-EUR 0.2 billion |
-EUR 0.3 billion |
Public sector purchase programme |
EUR 2,011.6 billion |
+EUR 8.3 billion |
-EUR 1.2 billion |
-EUR 6.2 billion |
Securities Markets Programme |
EUR 82.9 billion |
- |
- |
+EUR 0.2 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 29 June 2018 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 1,073.340 per fine oz.
USD: 1.1658 per EUR
JPY: 129.04 per EUR
CNY: 7.7170 per EUR
Special drawing rights: EUR 1.2074 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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