Consolidated financial statement of the Eurosystem as at 20 September 2013

Items not related to monetary policy operations

In the week ending 20 September 2013 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 0.1 billion to EUR 212.1 billion on account of customer and portfolio transactions and US dollar liquidity-providing operations (see below).

US dollar liquidity operations

The holdings by the Eurosystem of marketable securities other than those held for monetary policy purposes (asset item 7.2) increased by EUR 0.1 billion to EUR 354.3 billion. Banknotes in circulation (liability item 1) decreased by EUR 2.5 billion to EUR 916.7 billion. Liabilities to general government (liability item 5.1) increased by EUR 17.5 billion to EUR 84.9 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 17.3 billion to EUR 534.8 billion. On Wednesday, 18 September 2013, a main refinancing operation of EUR 97.2 billion matured and a new one of EUR 96.2 billion, with a maturity of one week, was settled. On the same day, fixed-term deposits in an amount of EUR 190.5 billion matured and new deposits were collected in the same amount, with a maturity of one week.

During the week, EUR 3.3 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 50.1 billion (compared with EUR 71.4 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.3 billion to EUR 249.8 billion. This decrease was due to the redemption of securities acquired under the first covered bond purchase programme. Therefore, in the week ending 20 September 2013 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 190.7 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 43.3 billion and EUR 15.8 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 1.3 billion to EUR 274.5 billion.