Consolidated financial statement of the Eurosystem as at 24 October 2014

28 October 2014

Items not related to monetary policy operations

In the week ending 24 October 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 0.2 billion to EUR 227.4 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 billion to EUR 368.8 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.8 billion to EUR 971.1 billion. Liabilities to general government (liability item 5.1) increased by EUR 26.6 billion to EUR 102.2 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) increased by EUR 6.6 billion to EUR 476.8 billion. On Wednesday, 22 October 2014, a main refinancing operation of EUR 82.5 billion matured and a new one of EUR 92.9 billion, with a maturity of one week, was settled.

During the week, EUR 5.8 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (compared with EUR 0.1 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 27.1 billion (compared with EUR 29 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 1.1 billion to EUR 192.4 billion. The table below provides the detailed breakdown of asset item 7.1 into the different portfolios. All portfolios are accounted for at amortised cost.

Monetary policy securities portfolios Reported value as at 24 October 2014 Difference compared with last week - Purchases Difference compared with last week - Redemptions
Covered bond purchase programme 1 EUR 30.9 billion - EUR 0.5 billion
Covered bond purchase programme 2 EUR 13.4 billion - EUR 0.1 billion
Covered bond purchase programme 3 EUR 1.7 billion EUR 1.7 billion -
Securities Markets Programme EUR 146.4 billion - -

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 14.8 billion to EUR 170 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 334,531 0
2 Claims on non-euro area residents denominated in foreign currency 263,582 1,207
2.1 Receivables from the IMF 84,287 −13
2.2 Balances with banks and security investments, external loans and other external assets 179,295 1,221
3 Claims on euro area residents denominated in foreign currency 26,870 −306
4 Claims on non-euro area residents denominated in euro 21,206 462
4.1 Balances with banks, security investments and loans 21,206 462
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 503,904 4,680
5.1 Main refinancing operations 92,918 10,400
5.2 Longer-term refinancing operations 410,759 −5,822
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 200 75
5.6 Credits related to margin calls 27 27
6 Other claims on euro area credit institutions denominated in euro 60,837 −4,761
7 Securities of euro area residents denominated in euro 561,177 2,086
7.1 Securities held for monetary policy purposes 192,350 1,110
7.2 Other securities 368,826 976
8 General government debt denominated in euro 26,727 0
9 Other assets 233,950 −311
Total assets 2,032,783 3,058
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 971,105 −1,843
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 197,150 −16,702
2.1 Current accounts (covering the minimum reserve system) 170,005 −14,779
2.2 Deposit facility 27,127 −1,918
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 18 −5
3 Other liabilities to euro area credit institutions denominated in euro 4,756 57
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 134,041 25,492
5.1 General government 102,230 26,593
5.2 Other liabilities 31,811 −1,101
6 Liabilities to non-euro area residents denominated in euro 36,166 −669
7 Liabilities to euro area residents denominated in foreign currency 1,112 28
8 Liabilities to non-euro area residents denominated in foreign currency 6,404 722
8.1 Deposits, balances and other liabilities 6,404 722
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 55,494 0
10 Other liabilities 215,706 −4,027
11 Revaluation accounts 315,537 0
12 Capital and reserves 95,312 0
Total liabilities 2,032,783 3,058

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