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Consolidated financial statement of the Eurosystem as at 20 February 2015

24 February 2015

Items not related to monetary policy operations

In the week ending 20 February 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 1.3 billion to EUR 245.7 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 1.5 billion to EUR 378.6 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.6 billion to EUR 1,005.0 billion. Liabilities to general government (liability item 5.1) increased by EUR 14.5 billion to EUR 70.5 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 5.8 billion to EUR 460.5 billion. On Wednesday, 18 February 2015, a main refinancing operation of EUR 104.5 billion matured and a new one of EUR 122.1 billion, with a maturity of seven days, was settled.

During the week, EUR 16.2 billion of a longer-term refinancing operation was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was EUR 1.2 billion (compared with EUR 0.2 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 42.0 billion (compared with EUR 45.4 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 2.1 billion to EUR 231.5 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 20 February 2015 Difference compared with 13 February 2015 – purchases Difference compared with 13 February 2015 – redemptions
Covered bond purchase programme 1 EUR 26.9 billion - EUR 0.2 billion
Covered bond purchase programme 2 EUR 12.0 billion - EUR 0.6 billion
Covered bond purchase programme 3 EUR 48.7 billion EUR 2.8 billion EUR 0.1 billion
Asset-backed securities purchase programme EUR 3.0 billion EUR 0.1 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 2.5 billion to EUR 229.3 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 343,867 0
2 Claims on non-euro area residents denominated in foreign currency 275,665 1,850
2.1 Receivables from the IMF 79,724 −2
2.2 Balances with banks and security investments, external loans and other external assets 195,940 1,852
3 Claims on euro area residents denominated in foreign currency 35,394 −1,298
4 Claims on non-euro area residents denominated in euro 20,663 1,318
4.1 Balances with banks, security investments and loans 20,663 1,318
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 502,548 2,396
5.1 Main refinancing operations 122,114 17,576
5.2 Longer-term refinancing operations 379,223 −16,179
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 1,205 994
5.6 Credits related to margin calls 5 5
6 Other claims on euro area credit institutions denominated in euro 121,901 5,617
7 Securities of euro area residents denominated in euro 610,134 3,647
7.1 Securities held for monetary policy purposes 231,525 2,140
7.2 Other securities 378,609 1,507
8 General government debt denominated in euro 26,665 0
9 Other assets 230,958 1,141
Total assets 2,167,794 14,670
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 1,005,000 −592
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 271,373 −941
2.1 Current accounts (covering the minimum reserve system) 229,346 2,485
2.2 Deposit facility 41,984 −3,445
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 43 19
3 Other liabilities to euro area credit institutions denominated in euro 5,318 −59
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 110,168 18,414
5.1 General government 70,459 14,475
5.2 Other liabilities 39,708 3,939
6 Liabilities to non-euro area residents denominated in euro 65,350 −6,109
7 Liabilities to euro area residents denominated in foreign currency 1,945 −88
8 Liabilities to non-euro area residents denominated in foreign currency 7,020 −612
8.1 Deposits, balances and other liabilities 7,020 −612
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 218,884 4,656
11 Revaluation accounts 330,898 0
12 Capital and reserves 95,464 1
Total liabilities 2,167,794 14,670
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