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Consolidated financial statement of the Eurosystem as at 26 July 2013

30 July 2013

Items not related to monetary policy operations

In the week ending 26 July 2013 gold and gold receivables (asset item 1) remained unchanged.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) increased by EUR 0.1 billion to EUR 212.3 billion on account of customer and portfolio transactions.

In the week ending 26 July 2013 the Eurosystem did not conduct any liquidity-providing transactions in connection with the temporary reciprocal currency arrangement (swap line) that the European Central Bank has with the Federal Reserve System.

The holdings by the Eurosystem of marketable securities other than those held for monetary policy purposes (asset item 7.2) increased by EUR 1.4 billion to EUR 352.3 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.1 billion to EUR 916.7 billion. Liabilities to general government (liability item 5.1) increased by EUR 3.4 billion to EUR 114.4 billion.

Items related to monetary policy operations

The Eurosystem’s net lending to credit institutions (asset item 5 minus liability items 2.2, 2.3, 2.4, 2.5 and 4) decreased by EUR 6.6 billion to EUR 525.8 billion. On Wednesday, 24 July 2013, a main refinancing operation of EUR 104.4 billion matured and a new one of EUR 102.3 billion, with a maturity of one week, was settled. On the same day, fixed-term deposits in an amount of EUR 195.5 billion matured and new deposits were collected in the same amount, with a maturity of one week.

During the week, EUR 2.4 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.7 billion (compared with virtually nil in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 79.2 billion (compared with EUR 76.4 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.3 billion to EUR 255.4 billion. This decrease was due to the redemption of securities acquired under the first and second covered bond purchase programmes. Therefore, in the week ending 26 July 2013 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 195.5 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 44.1 billion and EUR 15.8 billion respectively. All three portfolios are accounted for on a held-to-maturity basis.

Current accounts of euro area credit institutions

As a result of all transactions, the current account position of credit institutions with the Eurosystem (liability item 2.1) decreased by EUR 8.8 billion to EUR 255.8 billion.

Assets (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Gold and gold receivables 319,968 0
2 Claims on non-euro area residents denominated in foreign currency 247,668 456
2.1 Receivables from the IMF 85,061 −29
2.2 Balances with banks and security investments, external loans and other external assets 162,607 486
3 Claims on euro area residents denominated in foreign currency 25,890 −291
4 Claims on non-euro area residents denominated in euro 20,790 48
4.1 Balances with banks, security investments and loans 20,790 48
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 800,574 −3,796
5.1 Main refinancing operations 102,302 −2,125
5.2 Longer-term refinancing operations 697,544 −2,382
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 729 711
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 86,040 −2,296
7 Securities of euro area residents denominated in euro 607,637 1,073
7.1 Securities held for monetary policy purposes 255,384 −325
7.2 Other securities 352,253 1,398
8 General government debt denominated in euro 28,356 0
9 Other assets 259,258 2,028
Total assets 2,396,181 −2,778
Liabilities (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Banknotes in circulation 916,657 −112
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 530,590 −6,051
2.1 Current accounts (covering the minimum reserve system) 255,821 −8,841
2.2 Deposit facility 79,242 2,810
2.3 Fixed-term deposits 195,500 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 27 −21
3 Other liabilities to euro area credit institutions denominated in euro 6,693 267
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 137,115 1,702
5.1 General government 114,372 3,350
5.2 Other liabilities 22,743 −1,649
6 Liabilities to non-euro area residents denominated in euro 136,388 12
7 Liabilities to euro area residents denominated in foreign currency 1,640 −106
8 Liabilities to non-euro area residents denominated in foreign currency 5,420 154
8.1 Deposits, balances and other liabilities 5,420 154
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 54,240 0
10 Other liabilities 232,362 1,356
11 Revaluation accounts 284,680 0
12 Capital and reserves 90,395 0
Total liabilities 2,396,181 −2,778
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