Consolidated financial statement of the Eurosystem as at 9 May 2014

13 May 2014

Items not related to monetary policy operations

In the week ending 9 May 2014 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 210.4 billion on account of customer and portfolio transactions.

In the past week the Eurosystem has not conducted any liquidity-providing transactions in connection with the standing swap arrangement 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 1.5 billion to EUR 363.6 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.4 billion to EUR 948.9 billion. Liabilities to general government (liability item 5.1) decreased by EUR 4 billion to EUR 101.4 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 102.4 billion to EUR 442.8 billion. On Wednesday, 7 May 2014, a main refinancing operation of EUR 172.6 billion matured and a new one of EUR 129.1 billion, with a maturity of one week, was settled. On the same day, fixed-term deposits in an amount of EUR 103.9 billion matured and new deposits were collected in an amount of EUR 165.5 billion, with a maturity of one week.

During the week EUR 1.8 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.8 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 33.8 billion (compared with EUR 39.1 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) remained virtually unchanged at EUR 219.6 billion. Therefore, in the week ending 9 May 2014 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 167.4 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 37.8 billion and EUR 14.4 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 90.2 billion to EUR 150 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 326,544 0
2 Claims on non-euro area residents denominated in foreign currency 246,266 665
2.1 Receivables from the IMF 81,593 −200
2.2 Balances with banks and security investments, external loans and other external assets 164,673 865
3 Claims on euro area residents denominated in foreign currency 23,185 −301
4 Claims on non-euro area residents denominated in euro 18,597 −147
4.1 Balances with banks, security investments and loans 18,597 −147
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 642,356 −45,986
5.1 Main refinancing operations 129,140 −43,481
5.2 Longer-term refinancing operations 513,215 −1,750
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 0 −751
5.6 Credits related to margin calls 0 −4
6 Other claims on euro area credit institutions denominated in euro 60,637 −626
7 Securities of euro area residents denominated in euro 583,136 1,505
7.1 Securities held for monetary policy purposes 219,578 −42
7.2 Other securities 363,558 1,548
8 General government debt denominated in euro 27,273 0
9 Other assets 239,725 −4,521
Total assets 2,167,718 −49,410
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 948,883 −1,402
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 349,528 −33,741
2.1 Current accounts (covering the minimum reserve system) 150,019 −90,173
2.2 Deposit facility 33,844 −5,234
2.3 Fixed-term deposits 165,533 61,587
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 133 80
3 Other liabilities to euro area credit institutions denominated in euro 2,900 142
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 139,579 −8,120
5.1 General government 101,368 −3,962
5.2 Other liabilities 38,210 −4,157
6 Liabilities to non-euro area residents denominated in euro 79,772 1,392
7 Liabilities to euro area residents denominated in foreign currency 1,166 −304
8 Liabilities to non-euro area residents denominated in foreign currency 5,100 614
8.1 Deposits, balances and other liabilities 5,100 614
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 52,830 0
10 Other liabilities 206,251 −7,790
11 Revaluation accounts 288,913 0
12 Capital and reserves 92,797 −202
Total liabilities 2,167,718 −49,410

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