Consolidated financial statement of the Eurosystem as at 27 March 2015

31 March 2015

Items not related to monetary policy operations

In the week ending 27 March 2015 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 247.2 billion, on account of customer and portfolio transactions.

During the week, the Eurosystem did not conduct 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 375.6 billion. Banknotes in circulation (liability item 1) increased by EUR 2.1 billion to EUR 1,012.9 billion. Liabilities to general government (liability item 5.1) rose by EUR 14.2 billion to EUR 81.3 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 54.7 billion to EUR 474.7 billion. On Wednesday, 25 March 2015, a main refinancing operation of EUR 142.4 billion matured and a new one of EUR 120.5 billion, with a maturity of seven days, was settled.

During the week, a longer-term refinancing operation of EUR 22.3 billion matured and a new one of EUR 19.3 billion was settled. In addition, a targeted longer-term refinancing operation (TLTRO) of EUR 97.8 billion, with a maturity of 1,281 days, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (virtually unchanged compared with the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 63.6 billion (compared with EUR 45.7 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 18.2 billion to EUR 287 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 27 March 2015 Difference compared with 20 March 2015 – purchases Difference compared with 20 March 2015 – redemptions
Covered bond purchase programme 1 EUR 26.1 billion - -
Covered bond purchase programme 2 EUR 11.5 billion - -
Covered bond purchase programme 3 EUR 62.9 billion EUR 2.9 billion -
Asset-backed securities purchase programme EUR 4.6 billion EUR 0.6 billion -
Public sector purchase programme EUR 41.0 billion EUR 14.7 billion -
Securities Markets Programme EUR 140.9 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) increased by EUR 63.4 billion to EUR 293 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 343,839 0
2 Claims on non-euro area residents denominated in foreign currency 281,431 2,117
2.1 Receivables from the IMF 77,377 −24
2.2 Balances with banks and security investments, external loans and other external assets 204,054 2,141
3 Claims on euro area residents denominated in foreign currency 31,158 −1,961
4 Claims on non-euro area residents denominated in euro 24,783 −117
4.1 Balances with banks, security investments and loans 24,783 −117
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 538,300 72,691
5.1 Main refinancing operations 120,508 −21,894
5.2 Longer-term refinancing operations 417,558 94,599
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 234 −14
5.6 Credits related to margin calls 1 1
6 Other claims on euro area credit institutions denominated in euro 121,265 3,603
7 Securities of euro area residents denominated in euro 662,623 19,199
7.1 Securities held for monetary policy purposes 287,014 18,177
7.2 Other securities 375,609 1,022
8 General government debt denominated in euro 26,665 0
9 Other assets 220,737 −2,572
Total assets 2,250,801 92,960
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 1,012,937 2,060
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 356,626 81,387
2.1 Current accounts (covering the minimum reserve system) 293,003 63,422
2.2 Deposit facility 63,622 17,969
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 0 −4
3 Other liabilities to euro area credit institutions denominated in euro 5,379 171
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 129,960 11,830
5.1 General government 81,335 14,164
5.2 Other liabilities 48,625 −2,334
6 Liabilities to non-euro area residents denominated in euro 44,969 −2,896
7 Liabilities to euro area residents denominated in foreign currency 1,913 −146
8 Liabilities to non-euro area residents denominated in foreign currency 7,141 112
8.1 Deposits, balances and other liabilities 7,141 112
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 56,374 0
10 Other liabilities 208,744 103
11 Revaluation accounts 330,898 0
12 Capital and reserves 95,860 340
Total liabilities 2,250,801 92,960

Media contacts