Eurosystem balance sheet shows shifts in foreign currency and open market operations
The Eurosystem's net foreign currency position increased by EUR 0.2 billion to EUR 332.3 billion in the week ending January 30, 2026. The net balance of open market operations rose by EUR 16.4 billion to -EUR 2,436.4 billion, primarily due to changes in the deposit facility.
Key shifts in Eurosystem's financial landscape
In the week ending January 30, 2026, the Eurosystem's net foreign currency position, encompassing asset items 2 and 3 minus liability items 7, 8, and 9, saw an increase of EUR 0.2 billion, reaching a total of EUR 332.3 billion.
Concurrently, 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) rose by EUR 16.4 billion, settling at -EUR 2,436.4 billion.
This change was predominantly influenced by adjustments in the level of the deposit facility.
Furthermore, base money, comprising liability items 1, 2.1, and 2.2, experienced a decrease of EUR 11.3 billion, bringing its total to EUR 4,227.1 billion.
All debt securities held for monetary policy purposes are accounted for at amortised cost.
Monetary policy portfolios and redemptions
The detailed breakdown of securities held for monetary policy purposes (asset item 7.1) reveals ongoing dynamics.
The Covered Bond Purchase Programme 3 (CBPP3) saw redemptions of EUR 1.5 billion, reducing its value to EUR 205.7 billion.
The Asset-Backed Securities Purchase Programme (ABSPP) had minor redemptions of EUR 0.0 billion, standing at EUR 2.8 billion.
The Public Sector Purchase Programme (PSPP) recorded redemptions of EUR 2.1 billion, with its value at EUR 1,851.3 billion.
The Corporate Sector Purchase Programme (CSPP) experienced EUR 0.4 billion in redemptions, totaling EUR 244.7 billion.
Lastly, the Pandemic Emergency Purchase Programme (PEPP) had redemptions of EUR 1.2 billion, bringing its value to EUR 1,416.1 billion.
The Securities Markets Programme remained stable at EUR 0.7 billion.
The discontinuation of reinvestments under the asset purchase programme means that negative purchase amounts may occasionally appear, resulting from sales for risk management.
Routine update, subtle signals
This weekly financial statement provides a routine, granular update on the Eurosystem's balance sheet, reflecting ongoing operational adjustments rather than new policy signals.
The continued decline in monetary policy securities, driven by redemptions, illustrates the passive tightening from quantitative tightening.
While not market-moving, these figures offer a transparent snapshot of the central bank's operational footprint and its gradual evolution.