Consolidated financial statement of the Eurosystem as at 18 July 2014

22 July 2014

Items not related to monetary policy operations

In the week ending 18 July 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 213 billion on account of customer and portfolio transactions and US dollar liquidity-providing operations (see below).

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
17 July 2014 7-day US dollar liquidity-providing reverse transaction - USD 75 million
17 July 2014 84-day US dollar liquidity-providing reverse transaction USD 124 million -

The liquidity-providing transactions were conducted by the Eurosystem 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) decreased by EUR 2.4 billion to EUR 361.7 billion. Banknotes in circulation (liability item 1) increased by EUR 0.4 billion to EUR 965.6 billion. Liabilities to general government (liability item 5.1) decreased by EUR 4 billion to EUR 103.2 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 0.1 billion to EUR 508.9 billion. On Wednesday, 16 July 2014, a main refinancing operation of EUR 94.2 billion matured and a new one of EUR 99.9 billion, with a maturity of one week, was settled.

During the week, EUR 3.7 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 EUR 0.2 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 22.7 billion (compared with EUR 20.2 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.7 billion to EUR 204.1 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 18 July 2014, the value of accumulated purchases under the Securities Markets Programme amounted to EUR 156.3 billion, while the value of the portfolios held under the first and second covered bond purchase programmes totalled EUR 33.8 billion and EUR 14 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) increased by EUR 4.9 billion to EUR 211.1 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 334,431 0
2 Claims on non-euro area residents denominated in foreign currency 248,173 −1,033
2.1 Receivables from the IMF 81,637 −4
2.2 Balances with banks and security investments, external loans and other external assets 166,536 −1,028
3 Claims on euro area residents denominated in foreign currency 24,543 1,601
4 Claims on non-euro area residents denominated in euro 19,514 1,008
4.1 Balances with banks, security investments and loans 19,514 1,008
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 531,683 2,522
5.1 Main refinancing operations 99,908 5,757
5.2 Longer-term refinancing operations 431,074 −3,737
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 701 500
5.6 Credits related to margin calls 1 1
6 Other claims on euro area credit institutions denominated in euro 68,263 7,378
7 Securities of euro area residents denominated in euro 565,760 −3,016
7.1 Securities held for monetary policy purposes 204,110 −656
7.2 Other securities 361,650 −2,360
8 General government debt denominated in euro 26,705 0
9 Other assets 243,401 −3,069
Total assets 2,062,474 5,391
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 965,584 395
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 233,878 7,533
2.1 Current accounts (covering the minimum reserve system) 211,103 4,948
2.2 Deposit facility 22,718 2,534
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 57 51
3 Other liabilities to euro area credit institutions denominated in euro 4,965 752
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 140,925 −3,154
5.1 General government 103,184 −4,047
5.2 Other liabilities 37,741 893
6 Liabilities to non-euro area residents denominated in euro 52,237 −961
7 Liabilities to euro area residents denominated in foreign currency 1,288 223
8 Liabilities to non-euro area residents denominated in foreign currency 5,026 229
8.1 Deposits, balances and other liabilities 5,026 229
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 53,368 0
10 Other liabilities 208,475 372
11 Revaluation accounts 301,418 0
12 Capital and reserves 95,311 2
Total liabilities 2,062,474 5,391

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