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Consolidated financial statement of the Eurosystem as at 22 November 2013

26 November 2013

Items not related to monetary policy operations

In the week ending 22 November 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) decreased by EUR 0.1 billion to EUR 206.8 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 temporary reciprocal currency arrangement (swap line) 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 0.1 billion to EUR 350.8 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.6 billion to EUR 921 billion. Liabilities to general government (liability item 5.1) increased by EUR 15.3 billion to EUR 83.4 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 4.5 billion to EUR 489.5 billion. On Wednesday, 20 November 2013, a main refinancing operation of EUR 87.7 billion matured and a new one of EUR 86.9 billion, with a maturity of one week, was settled. On the same day, fixed-term deposits in an amount of EUR 184 billion matured and new deposits were collected in the same amount, with a maturity of one week.

During the week, a longer-term refinancing operation in an amount of EUR 3.6 billion was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (compared with virtually nil in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 44 billion (compared with EUR 43.9 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.1 billion to EUR 241.5 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 22 November 2013 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 184.1 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 41.9 billion and EUR 15.4 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 13.9 billion to EUR 218 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 343,920 0
2 Claims on non-euro area residents denominated in foreign currency 244,948 732
2.1 Receivables from the IMF 82,517 −6
2.2 Balances with banks and security investments, external loans and other external assets 162,431 738
3 Claims on euro area residents denominated in foreign currency 22,805 338
4 Claims on non-euro area residents denominated in euro 19,381 270
4.1 Balances with banks, security investments and loans 19,381 270
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 717,615 −4,269
5.1 Main refinancing operations 86,881 −863
5.2 Longer-term refinancing operations 630,553 −3,586
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 181 181
5.6 Credits related to margin calls 1 0
6 Other claims on euro area credit institutions denominated in euro 81,441 −2,551
7 Securities of euro area residents denominated in euro 592,272 38
7.1 Securities held for monetary policy purposes 241,456 −98
7.2 Other securities 350,816 137
8 General government debt denominated in euro 28,328 0
9 Other assets 242,891 24
Total assets 2,293,601 −5,416
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 920,986 −1,580
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 446,103 −13,657
2.1 Current accounts (covering the minimum reserve system) 217,957 −13,931
2.2 Deposit facility 44,039 177
2.3 Fixed-term deposits 184,000 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 108 97
3 Other liabilities to euro area credit institutions denominated in euro 5,393 65
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 117,054 10,612
5.1 General government 83,372 15,344
5.2 Other liabilities 33,682 −4,732
6 Liabilities to non-euro area residents denominated in euro 122,692 −33
7 Liabilities to euro area residents denominated in foreign currency 2,208 881
8 Liabilities to non-euro area residents denominated in foreign currency 5,191 262
8.1 Deposits, balances and other liabilities 5,191 262
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 53,565 0
10 Other liabilities 225,455 −1,966
11 Revaluation accounts 304,534 0
12 Capital and reserves 90,420 0
Total liabilities 2,293,601 −5,416
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