Consolidated financial statement of the Eurosystem as at 28 November 2014

Items not related to monetary policy operations

In the week ending 28 November 2014 gold and gold receivables (asset item 1) decreased by EUR 2 million owing to the sale of gold by two Eurosystem central banks.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) increased by EUR 1.1 billion to EUR 230.1 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 1.6 billion to EUR 366.1 billion. Banknotes in circulation (liability item 1) increased by EUR 5.9 billion to EUR 981 billion. Liabilities to general government (liability item 5.1) decreased by EUR 28.6 billion to EUR 56.1 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 1 billion to EUR 478 billion. On Wednesday, 26 November 2014, a main refinancing operation of EUR 102.6 billion matured and a new one of EUR 114.3 billion, with a maturity of one week, was settled.

During the week, a longer-term refinancing operation of EUR 7.2 billion matured and a new one of EUR 18.3 billion was settled, while EUR 8.6 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 virtually nil in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 35.8 billion (compared with EUR 22 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 5.2 billion to EUR 204.2 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.

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 32.7 billion to EUR 208.3 billion.