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Consolidated financial statement of the Eurosystem as at 20 December 2013

24 December 2013

Items not related to monetary policy operations

In the week ending 20 December 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 0.4 billion to EUR 207.3 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) decreased by EUR 0.8 billion to EUR 349.9 billion. Banknotes in circulation (liability item 1) increased by EUR 11.8 billion to EUR 950.5 billion. Liabilities to general government (liability item 5.1) decreased by EUR 19.9 billion to EUR 56 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 26.3 billion to EUR 516.9 billion. On Wednesday, 18 December 2013, a main refinancing operation of EUR 98.5 billion matured and a new one of EUR 118.9 billion, with a maturity of five days, was settled. On the same day, fixed-term deposits in an amount of EUR 184 billion matured and new deposits were collected in an amount of EUR 152.3 billion, with a maturity of five days.

During the week, a longer-term refinancing operation of EUR 8.6 billion matured and a new one of EUR 20.9 billion was settled, while EUR 22.7 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 0.1 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 53.3 billion (compared with EUR 38.3 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 5.8 billion to EUR 235.4 billion. This decrease was due to the redemption of securities acquired under the Securities Markets Programme and the first covered bond purchase programme. Therefore, in the week ending 20 December 2013 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 178.3 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 41.7 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) increased by EUR 32.4 billion to EUR 256.1 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 243,969 310
2.1 Receivables from the IMF 82,700 280
2.2 Balances with banks and security investments, external loans and other external assets 161,268 30
3 Claims on euro area residents denominated in foreign currency 23,283 −566
4 Claims on non-euro area residents denominated in euro 19,515 −672
4.1 Balances with banks, security investments and loans 19,515 −672
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 723,303 10,286
5.1 Main refinancing operations 118,911 20,417
5.2 Longer-term refinancing operations 604,050 −10,343
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 341 213
5.6 Credits related to margin calls 1 0
6 Other claims on euro area credit institutions denominated in euro 74,194 960
7 Securities of euro area residents denominated in euro 585,284 −6,653
7.1 Securities held for monetary policy purposes 235,412 −5,839
7.2 Other securities 349,872 −815
8 General government debt denominated in euro 28,326 0
9 Other assets 245,739 846
Total assets 2,287,531 4,511
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 950,471 11,813
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 462,481 16,426
2.1 Current accounts (covering the minimum reserve system) 256,078 32,440
2.2 Deposit facility 53,345 15,003
2.3 Fixed-term deposits 152,251 −31,749
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 808 732
3 Other liabilities to euro area credit institutions denominated in euro 4,208 −772
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 81,371 −22,939
5.1 General government 55,997 −19,914
5.2 Other liabilities 25,374 −3,026
6 Liabilities to non-euro area residents denominated in euro 109,631 −550
7 Liabilities to euro area residents denominated in foreign currency 2,372 323
8 Liabilities to non-euro area residents denominated in foreign currency 4,024 −1,018
8.1 Deposits, balances and other liabilities 4,024 −1,018
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 224,454 1,228
11 Revaluation accounts 304,534 0
12 Capital and reserves 90,420 0
Total liabilities 2,287,531 4,511
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