Consolidated financial statement of the Eurosystem as at 7 February 2014

11 February 2014

Items not related to monetary policy operations

In the week ending 7 February 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) decreased by EUR 0.4 billion to EUR 206.9 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 standing swap arrangement 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 0.5 billion to EUR 355.6 billion. Banknotes in circulation (liability item 1) increased by EUR 0.2 billion to EUR 932.6 billion. Liabilities to general government (liability item 5.1) decreased by EUR 18.3 billion to EUR 74.5 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) fell by EUR 36 billion to EUR 448.5 billion. On Wednesday, 5 February 2014, a main refinancing operation of EUR 115.6 billion matured and a new one of EUR 95.1 billion, with a maturity of one week, was settled. On the same day, fixed-term deposits in an amount of EUR 151.2 billion matured and new deposits were collected in an amount of EUR 175.5 billion, with a maturity of one week.

During the week, EUR 0.5 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.5 billion (compared with EUR 0.3 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 47.2 billion (compared with EUR 56.1 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.7 billion to EUR 230.6 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 7 February 2014 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 175.7 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 39.8 billion and EUR 15.1 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 15.2 billion to EUR 200.4 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 0
2 Claims on non-euro area residents denominated in foreign currency 244,197 −48
2.1 Receivables from the IMF 81,027 −373
2.2 Balances with banks and security investments, external loans and other external assets 163,169 325
3 Claims on euro area residents denominated in foreign currency 22,803 −941
4 Claims on non-euro area residents denominated in euro 19,160 −999
4.1 Balances with banks, security investments and loans 19,160 −999
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 671,271 −20,663
5.1 Main refinancing operations 95,146 −20,489
5.2 Longer-term refinancing operations 575,576 −468
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 548 293
5.6 Credits related to margin calls 1 1
6 Other claims on euro area credit institutions denominated in euro 70,472 −2,401
7 Securities of euro area residents denominated in euro 586,245 −1,162
7.1 Securities held for monetary policy purposes 230,603 −712
7.2 Other securities 355,641 −451
8 General government debt denominated in euro 28,237 −50
9 Other assets 244,795 −460
Total assets 2,190,338 −26,723
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 932,643 185
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 423,168 44
2.1 Current accounts (covering the minimum reserve system) 200,444 −15,246
2.2 Deposit facility 47,221 −8,843
2.3 Fixed-term deposits 175,500 24,294
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 3 −160
3 Other liabilities to euro area credit institutions denominated in euro 4,107 973
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 94,110 −21,956
5.1 General government 74,544 −18,322
5.2 Other liabilities 19,566 −3,634
6 Liabilities to non-euro area residents denominated in euro 101,874 −4,256
7 Liabilities to euro area residents denominated in foreign currency 990 −1,934
8 Liabilities to non-euro area residents denominated in foreign currency 6,405 1,320
8.1 Deposits, balances and other liabilities 6,405 1,320
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 220,856 −1,118
11 Revaluation accounts 262,876 0
12 Capital and reserves 90,591 18
Total liabilities 2,190,338 −26,723

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