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Consolidated financial statement of the Eurosystem as at 19 September 2014

23 September 2014

Items not related to monetary policy operations

In the week ending 19 September 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) decreased by EUR 0.3 billion to EUR 213.6 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
18 September 2014 7-day US dollar liquidity-providing reverse transaction USD 75 million USD 20 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) increased by EUR 0.4 billion to EUR 366.9 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.5 billion to EUR 970.4 billion. Liabilities to general government (liability item 5.1) increased by EUR 5.9 billion to EUR 86 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 12.9 billion to EUR 449.2 billion. On Wednesday, 17 September 2014, a main refinancing operation of EUR 110.7 billion matured and a new one of EUR 105.7 billion, with a maturity of one week, was settled.

During the week, EUR 6 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.3 billion (compared with EUR 0.2 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 23.1 billion (compared with EUR 21.1 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.6 billion to EUR 194.5 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 19 September 2014, the value of accumulated purchases under the Securities Markets Programme amounted to EUR 148.7 billion, while the value of the portfolios held under the first and second covered bond purchase programmes totalled EUR 32.2 billion and EUR 13.6 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 16.8 billion to EUR 162.4 billion.


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