Consolidated financial statement of the Eurosystem as at 1 January 2021 (434 KB)

PRESS RELEASE

6 January 2021

Consolidated financial statement of the Eurosystem as at 1 January 2021

In the week ending 1 January 2021 the decrease of EUR 22.7 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

1. fell by EUR 9.3 billion to EUR 304.1 billion. This change was due to the effects of the quarterly revaluation of assets and liabilities of EUR 10.1 billion, which were partially offset by an increase of EUR 0.9 billion on account of customer and portfolio transactions.

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 92.1 billion to EUR 1,109.3 billion, mainly owing to the change in the level of the deposit facility (liability item 2.2).

Base money (liability items 1, 2.1 and 2.2) fell by EUR 80.7 billion to EUR 4,923.7 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	Reported value	Weekly change -	Weekly change	Weekly change
as at 1 January	- quarter-end
securities portfolios	purchases	- redemptions
2021	adjustments
Covered bond purchase	EUR 0.5 billion	-	-	-EUR 0.0 billion
programme 1
Securities Markets	EUR 28.7 billion	-	-	+EUR 0.1 billion
Programme
Covered bond purchase	EUR 2.8 billion	-	-	-EUR 0.0 billion
programme 2
Covered bond purchase	EUR 287.5	-	-EUR 0.0 billion	-EUR 0.4 billion
programme 3	billion
Asset-backed securities	EUR 29.5 billion	-	-EUR 0.2 billion	-EUR 0.0 billion
purchase programme
Public sector purchase	EUR 2,341.6	-	-	-EUR 6.8 billion
programme	billion
Corporate sector	EUR 250.4	-	-EUR 0.3 billion	-EUR 0.3 billion
purchase programme	billion
Pandemic emergency	EUR 753.7	+EUR 0.0 billion	-EUR 0.3 billion	-EUR 1.9 billion
purchase programme	billion

PRESS RELEASE / 6 January 2021

Consolidated financial statement of the Eurosystem as at 1 January 2021

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 31 December 2020 is shown in the additional column "Difference compared with last week due to quarter-endadjustments". The gold price and the principal exchange rates used for the revaluation of balances were as follows:

Gold: EUR 1,543.884 per fine oz.

USD: 1.2271 per EUR

JPY: 126.49 per EUR

CNY: 8.0225 per EUR

Special drawing rights: EUR 1.1786 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).

European Central Bank Directorate General Communications, Global Media Relations Division Sonnemannstrasse 20, 60314 Frankfurt am Main, Germany

Tel.: [phone], Email: [e-mail], Website: www.ecb.europa.eu

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Quarterly consolidated financial statement of the Eurosystem as at 1 January 2021

(in EUR millions)

Assets	Balance as at	Difference compared with last week
			1 January 2021	due to
				transactions	quarter-end
				adjustments
1	Gold and gold receivables	536,542	0	-22,739
2	Claims on non-euro area residents denominated in foreign currency	347,179	1,313	-10,877
	2.1	Receivables from the IMF	85,379	0	-1,700
	2.2	Balances with banks and security investments, external loans and
other external assets	261,800	1,314	-9,178
3	Claims on euro area residents denominated in foreign currency	23,437	-373	-726
4	Claims on non-euro area residents denominated in euro	14,337	1,375	-4
	4.1	Balances with banks, security investments and loans	14,337	1,375	-4
	4.2	Claims arising from the credit facility under ERM II	0	0	0
5	Lending to euro area credit institutions related to monetary policy
operations denominated in euro	1,793,194	355	0
	5.1	Main refinancing operations	468	206	0
	5.2	Longer-term refinancing operations	1,792,574	0	0
	5.3	Fine-tuning reverse operations	0	0	0
	5.4	Structural reverse operations	0	0	0
	5.5	Marginal lending facility	152	149	0
	5.6	Credits related to margin calls	0	0	0
6	Other claims on euro area credit institutions denominated in euro	25,328	-6,592	0
7	Securities of euro area residents denominated in euro	3,890,916	-820	-9,126
	7.1	Securities held for monetary policy purposes	3,694,642	-819	-9,397
	7.2	Other securities	196,274	-1	271
8	General government debt denominated in euro	22,676	-2	-55
9	Other assets	325,715	6,558	6,374

Total assets

6,979,324

1,816

-37,152

Totals / sub-totals may not add up, due to rounding.

Liabilities	Balance as at	Difference compared with last week
			1 January 2021	due to
				transactions	quarter-end
				adjustments
1	Banknotes in circulation	1,434,512	947	0
2	Liabilities to euro area credit institutions related to monetary policy
operations denominated in euro	3,489,194	-81,669	0
	2.1	Current accounts (covering the minimum reserve system)	2,805,331	-174,109	0
	2.2	Deposit facility	683,863	92,440	0
	2.3	Fixed-term deposits	0	0	0
	2.4	Fine-tuning reverse operations	0	0	0
	2.5	Deposits related to margin calls	0	0	0
3	Other liabilities to euro area credit institutions denominated in euro	23,563	5,763	-1
4	Debt certificates issued	0	0	0
5	Liabilities to other euro area residents denominated in euro	611,304	-10,011	-15
	5.1	General government	516,173	-23,931	-15
	5.2	Other liabilities	95,131	13,920	0
6	Liabilities to non-euro area residents denominated in euro	431,145	81,925	-20
7	Liabilities to euro area residents denominated in foreign currency	7,816	83	-232
8	Liabilities to non-euro area residents denominated in foreign currency	3,895	0	-160
	8.1	Deposits, balances and other liabilities	3,895	0	-160
	8.2	Liabilities arising from the credit facility under ERM II	0	0	0
9	Counterpart of special drawing rights allocated by the IMF	54,799	0	-1,089
10 Other liabilities	301,414	4,778	-5,022
11 Revaluation accounts	512,884	0	-30,614
12 Capital and reserves	108,797	0	0

Total liabilities

6,979,324

1,816

-37,152

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