Banca d'Italia : Consolidated financial statement of the Eurosystem as at 20 November 2020

PRESS RELEASE

24 November 2020

Consolidated financial statement of the Eurosystem as at 20 November 2020

In the week ending 20 November 2020 the net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 0.4 billion to EUR 304.6 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 74.6 billion to EUR 1,209 billion, owing mainly to a shift from the current accounts (liability item 2.1) to the deposit facility (liability item 2.2).

Base money (liability items 1, 2.1 and 2.2) decreased by EUR 38.5 billion to EUR 4,829.4 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	Reported value as at	Weekly change -	Weekly change -
portfolios	20 November 2020	purchases	redemptions
Covered bond purchase	EUR 0.5 billion	-	-
programme 1
Securities Markets Programme	EUR 28.6 billion	-	-
Covered bond purchase	EUR 2.8 billion	-	-
programme 2
Covered bond purchase	EUR 287.7 billion	+EUR 1.5 billion	-EUR 0.3 billion
programme 3
Asset-backed securities purchase	EUR 30.0 billion	+EUR 0.6 billion	-EUR 0.2 billion
programme
Public sector purchase programme	EUR 2,330.4 billion	+EUR 10.5 billion	-EUR 0.4 billion
Corporate sector purchase	EUR 247.0 billion	+EUR 1.9 billion	-EUR 1.0 billion
programme
Pandemic emergency purchase	EUR 680.9 billion	+EUR 20.4 billion	-EUR 1.2 billion
programme

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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Weekly consolidated financial statement of the Eurosystem as at 20 November 2020

(in EUR millions)

Assets	Balance as at	Difference compared
			20 November 2020	with last week due to
				transactions
1	Gold and gold receivables	559.282	0
2	Claims on non-euro area residents denominated in foreign currency	352.620	-34
	2.1	Receivables from the IMF	84.846	-1
	2.2	Balances with banks and security investments, external loans and other external assets	267.774	-33
3	Claims on euro area residents denominated in foreign currency	20.439	-6
4	Claims on non-euro area residents denominated in euro	13.139	2
	4.1	Balances with banks, security investments and loans	13.139	2
	4.2	Claims arising from the credit facility under ERM II	0	0
5	Lending to euro area credit institutions related to monetary policy operations denominated in euro	1.754.285	-113
	5.1	Main refinancing operations	470	-113
	5.2	Longer-term refinancing operations	1.753.815	0
	5.3	Fine-tuning reverse operations	0	0
	5.4	Structural reverse operations	0	0
	5.5	Marginal lending facility	0	0
	5.6	Credits related to margin calls	0	0
6	Other claims on euro area credit institutions denominated in euro	42.090	2.090
7	Securities of euro area residents denominated in euro	3.800.997	31.745
	7.1	Securities held for monetary policy purposes	3.607.763	31.742
	7.2	Other securities	193.235	2
8	General government debt denominated in euro	22.735	0
9	Other assets	302.228	648
Total assets	6.867.814	34.331
Totals / sub-totals may not add up, due to rounding.

Liabilities	Balance as at	Difference compared
			20 November 2020	with last week due to
				transactions
1	Banknotes in circulation	1.399.676	1.946
2	Liabilities to euro area credit institutions related to monetary policy operations denominated in euro	3.429.718	-40.407
	2.1	Current accounts (covering the minimum reserve system)	2.884.389	-114.860
	2.2	Deposit facility	545.329	74.453
	2.3	Fixed-term deposits	0	0
	2.4	Fine-tuning reverse operations	0	0
	2.5	Deposits related to margin calls	0	0
3	Other liabilities to euro area credit institutions denominated in euro	12.340	1.397
4	Debt certificates issued	0	0
5	Liabilities to other euro area residents denominated in euro	788.925	65.479
	5.1	General government	721.077	66.245
	5.2	Other liabilities	67.848	-766
6	Liabilities to non-euro area residents denominated in euro	218.307	3.538
7	Liabilities to euro area residents denominated in foreign currency	6.497	185
8	Liabilities to non-euro area residents denominated in foreign currency	6.056	166
	8.1	Deposits, balances and other liabilities	6.056	166
	8.2	Liabilities arising from the credit facility under ERM II	0	0
9	Counterpart of special drawing rights allocated by the IMF	55.888	0
10 Other liabilities	298.071	2.027
11 Revaluation accounts	543.498	0
12 Capital and reserves	108.839	0
Total liabilities	6.867.814	34.331

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