Consolidated financial statement of the Eurosystem as at 10 January 2014

14 January 2014

Items not related to monetary policy operations

In the week ending 10 January 2014 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 billion to EUR 205.2 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 0.4 billion to EUR 354.9 billion. Banknotes in circulation (liability item 1) fell by EUR 11.2 billion to EUR 941.7 billion. Liabilities to general government (liability item 5.1) increased by EUR 2.4 billion to EUR 57.9 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) decreased by EUR 102.2 billion to EUR 457 billion. On Wednesday, 8 January 2014, a main refinancing operation of EUR 168.7 billion matured and a new one of EUR 112.5 billion, with a maturity of one week, was settled. On the same day, fixed-term deposits in an amount of EUR 104.8 billion matured and new deposits were collected in an amount of EUR 179 billion, with a maturity of one week.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.3 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 59.8 billion (compared with EUR 88.2 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) remained virtually unchanged at EUR 235.9 billion. Therefore, in the week ending 10 January 2014 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 178.8 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 41.6 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 96.6 billion to EUR 202.3 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 303,156 0
2 Claims on non-euro area residents denominated in foreign currency 244,348 2,785
2.1 Receivables from the IMF 81,647 −25
2.2 Balances with banks and security investments, external loans and other external assets 162,701 2,810
3 Claims on euro area residents denominated in foreign currency 22,500 −737
4 Claims on non-euro area residents denominated in euro 21,835 1,640
4.1 Balances with banks, security investments and loans 21,835 1,640
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 695,884 −56,376
5.1 Main refinancing operations 112,458 −56,204
5.2 Longer-term refinancing operations 583,325 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 31 −239
5.6 Credits related to margin calls 70 68
6 Other claims on euro area credit institutions denominated in euro 72,112 −1,434
7 Securities of euro area residents denominated in euro 590,823 −361
7.1 Securities held for monetary policy purposes 235,929 0
7.2 Other securities 354,894 −361
8 General government debt denominated in euro 28,287 0
9 Other assets 241,562 −3,571
Total assets 2,220,507 −58,053
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 941,731 −11,168
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 441,259 −50,778
2.1 Current accounts (covering the minimum reserve system) 202,327 −96,617
2.2 Deposit facility 59,753 −28,460
2.3 Fixed-term deposits 179,000 74,158
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 179 140
3 Other liabilities to euro area credit institutions denominated in euro 8,715 5,476
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 81,776 770
5.1 General government 57,909 2,415
5.2 Other liabilities 23,868 −1,645
6 Liabilities to non-euro area residents denominated in euro 110,485 −3,725
7 Liabilities to euro area residents denominated in foreign currency 3,450 −1,341
8 Liabilities to non-euro area residents denominated in foreign currency 5,513 2,343
8.1 Deposits, balances and other liabilities 5,513 2,343
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 52,717 0
10 Other liabilities 221,281 371
11 Revaluation accounts 262,876 0
12 Capital and reserves 90,703 2
Total liabilities 2,220,507 −58,053

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