Consolidated financial statement of the Eurosystem as at 24 January 2014

28 January 2014

Items not related to monetary policy operations

In the week ending 24 January 2014 gold and gold receivables (asset item 1) increased by EUR 1 million owing to a purchase of gold coin.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) increased by EUR 0.2 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) increased by EUR 1 billion to EUR 355.7 billion. Banknotes in circulation (liability item 1) fell by EUR 5 billion to EUR 929.9 billion. Liabilities to general government (liability item 5.1) increased by EUR 21.1 billion to EUR 93.6 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 40.1 billion to EUR 497.1 billion. On Wednesday, 22 January 2014, a main refinancing operation of EUR 94.7 billion matured and a new one of EUR 116.3 billion, with a maturity of one week, was settled. On the same day, fixed-term deposits in an amount of EUR 179 billion matured and new deposits were collected in an amount of EUR 152.1 billion, with a maturity of one week.

During the week, EUR 1 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 previous week), while recourse to the deposit facility (liability item 2.2) was EUR 44 billion (compared with EUR 36.5 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.5 billion to EUR 233.5 billion. This decrease was due to the redemption of securities acquired under the first covered bond purchase programme. Therefore, in the week ending 24 January 2014 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 177.4 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 40.9 billion and EUR 15.2 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 25.4 billion to EUR 227.9 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 303,157 1
2 Claims on non-euro area residents denominated in foreign currency 243,861 −1,898
2.1 Receivables from the IMF 81,583 −5
2.2 Balances with banks and security investments, external loans and other external assets 162,278 −1,893
3 Claims on euro area residents denominated in foreign currency 23,296 671
4 Claims on non-euro area residents denominated in euro 21,114 128
4.1 Balances with banks, security investments and loans 21,114 128
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 693,177 20,618
5.1 Main refinancing operations 116,281 21,543
5.2 Longer-term refinancing operations 576,717 −991
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 179 65
5.6 Credits related to margin calls 1 0
6 Other claims on euro area credit institutions denominated in euro 74,670 1,541
7 Securities of euro area residents denominated in euro 589,264 520
7.1 Securities held for monetary policy purposes 233,520 −515
7.2 Other securities 355,743 1,035
8 General government debt denominated in euro 28,287 0
9 Other assets 244,470 1,856
Total assets 2,221,296 23,436
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 929,924 −5,019
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 423,979 5,981
2.1 Current accounts (covering the minimum reserve system) 227,884 25,435
2.2 Deposit facility 44,010 7,521
2.3 Fixed-term deposits 152,067 −26,933
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 18 −42
3 Other liabilities to euro area credit institutions denominated in euro 2,113 −1,886
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 122,961 24,638
5.1 General government 93,636 21,131
5.2 Other liabilities 29,325 3,507
6 Liabilities to non-euro area residents denominated in euro 105,820 −314
7 Liabilities to euro area residents denominated in foreign currency 1,289 −1,411
8 Liabilities to non-euro area residents denominated in foreign currency 5,890 −36
8.1 Deposits, balances and other liabilities 5,890 −36
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 223,179 1,533
11 Revaluation accounts 262,876 0
12 Capital and reserves 90,548 −50
Total liabilities 2,221,296 23,436

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