Consolidated financial position of the Eurosystem on 1 July 2022

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July 6, 2022

During the week ending July 1, 2022, the decrease of EUR 59 million in gold and gold claims (asset item 1) primarily reflects quarterly revaluation adjustments.

The net position of the Eurosystem in foreign currencies (items 2 and 3 of the assets less items 7, 8 and 9 of the liabilities) increased by 12.4 billion euros to reach 343.6 billion euros. This change is explained by the effects of the quarterly revaluation of assets and liabilities of 12.3 billion euros and an increase of 0.2 billion euros due to customer and portfolio transactions.

Following open market operations and the Eurosystem’s standing facilities, the net funding capacity of credit institutions (item 5 of the assets less items 2.2, 2.3, 2.4, 2.5 and 4 of the liabilities) decreased from EUR 155.7 billion to EUR 1,387.6 billion, mainly due to variations in the deposit facility (item 2.2 of the liabilities) and the longer-term refinancing operations (asset 5.2).

The monetary base (items 1, 2.1 and 2.2 of the liabilities) decreased by 47.9 billion euros to settle at 6,193.2 billion euros.

The table below shows the detailed distribution of securities held for monetary policy purposes (item 7.1 of the assets) in the various portfolios. All portfolios are accounted for at amortized cost.

Quarter-end revaluation of Eurosystem assets and liabilities

In accordance with the harmonized accounting rules of the Eurosystem, gold, currencies and financial instruments (including part of the holdings of securities not purchased for monetary policy purposes) are revalued at market rates and prices at the end of each quarter.

The net impact of the revaluation on each balance sheet item at June 30, 2022 is indicated in the additional column “Difference from last week due to end of quarter adjustments”. The price of gold and the main exchange rates used for the revaluation of the balances were as follows:

Gold: EUR 1,738.856 per fine ounce.

USD: 1.0387 for 1 EUR

JPY: 141.54 for 1 EUR

CNY: 6.9624 per EUR

Special Drawing Rights: EUR 1.2778 per SDR

The content and format of the weekly financial statement are defined 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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