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  • PRESS RELEASE

Consolidated financial statement of the Eurosystem as at 4 October 2024

9 October 2024

In the week ending 4 October 2024 the increase of EUR 62.5 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) decreased by EUR 5.1 billion to EUR 323.7 billion. This change was due mainly to the negative effects of the quarterly revaluation of assets and liabilities.

The net balance of open market operations and standing facilities (asset item 5 minus liability items 2.2, 2.3, 2.4, 2.5 and 4) fell by EUR 8.4 billion to -EUR 2,946.4 billion. This was due primarily to the change in the level of the deposit facility (liability item 2.2) and the main refinancing operations (asset item 5.1).

Base money (liability items 1, 2.1 and 2.2) increased by EUR 3.3 billion to EUR 4,711.2 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.

Table 1

Monetary policy securities portfolios

Reported value as at 4 October 2024

Weekly change – purchases [1]

Weekly change – redemptions

Weekly change – quarter-end adjustments

Securities Markets Programme

EUR 1.3 billion

-

-

+EUR 0.0 billion

Covered bond purchase programme 3

EUR 258.6 billion

-

-EUR 1.2 billion

-EUR 0.1 billion

Asset-backed securities purchase programme

EUR 8.0 billion

-

-EUR 0.1 billion

-EUR 0.0 billion

Public sector purchase programme

EUR 2,194.8 billion

-

-EUR 2.5 billion

-EUR 3.0 billion

Corporate sector purchase programme

EUR 297.0 billion

- EUR 0.5 billion

-EUR 0.3 billion

-EUR 0.2 billion

Pandemic emergency purchase programme

EUR 1,637.2 billion

+EUR 1.2 billion

-EUR 1.3 billion

-EUR 2.9 billion

[1] With the discontinuation of the reinvestments under the asset purchase programme, this column may sometimes show negative amounts. These are expected to be infrequent and would result from sales of securities conducted, for instance, for risk management purposes.

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 4 October 2024 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 2,359.682 per fine oz.

USD: 1.1196 per EUR

JPY: 159.82 per EUR

CNY: 7.8511 per EUR

Special drawing rights: EUR 1.2115 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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