Consolidated financial statement of the Eurosystem as at 7 March 2014

11 March 2014

Items not related to monetary policy operations

In the week ending 7 March 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 0.3 billion to EUR 207.8 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 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) increased by EUR 1.7 billion to EUR 358.7 billion. Banknotes in circulation (liability item 1) increased by EUR 3.2 billion to EUR 937 billion. Liabilities to general government (liability item 5.1) decreased by EUR 24.6 billion to EUR 74.7 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 11.8 billion to EUR 447.6 billion. On Wednesday, 5 March 2014, a main refinancing operation of EUR 94 billion matured and a new one of EUR 87 billion, with a maturity of one week, was settled. On the same day, fixed-term deposits in an amount of EUR 175.5 billion matured and new deposits were collected in the same amount, with a maturity of one week.

During the week, EUR 3 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 0.8 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 30.9 billion (compared with EUR 29.4 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) remained unchanged. Therefore, in the week ending 7 March 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 38.8 billion and EUR 14.8 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 0.3 billion to EUR 187.1 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 303,158 0
2 Claims on non-euro area residents denominated in foreign currency 244,312 484
2.1 Receivables from the IMF 80,793 68
2.2 Balances with banks and security investments, external loans and other external assets 163,518 416
3 Claims on euro area residents denominated in foreign currency 23,867 −264
4 Claims on non-euro area residents denominated in euro 18,806 −199
4.1 Balances with banks, security investments and loans 18,806 −199
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 654,015 −10,493
5.1 Main refinancing operations 87,047 −6,989
5.2 Longer-term refinancing operations 566,682 −3,012
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 284 −492
5.6 Credits related to margin calls 2 0
6 Other claims on euro area credit institutions denominated in euro 72,875 −1,230
7 Securities of euro area residents denominated in euro 588,035 1,656
7.1 Securities held for monetary policy purposes 229,302 0
7.2 Other securities 358,733 1,656
8 General government debt denominated in euro 28,237 0
9 Other assets 239,020 1,291
Total assets 2,172,324 −8,755
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 937,004 3,156
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 393,554 1,067
2.1 Current accounts (covering the minimum reserve system) 187,112 −280
2.2 Deposit facility 30,939 1,567
2.3 Fixed-term deposits 175,500 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 3 −220
3 Other liabilities to euro area credit institutions denominated in euro 5,188 9
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 113,875 −12,238
5.1 General government 74,651 −24,608
5.2 Other liabilities 39,224 12,370
6 Liabilities to non-euro area residents denominated in euro 90,597 −2,897
7 Liabilities to euro area residents denominated in foreign currency 1,858 −924
8 Liabilities to non-euro area residents denominated in foreign currency 5,765 826
8.1 Deposits, balances and other liabilities 5,765 826
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 216,495 2,246
11 Revaluation accounts 262,876 0
12 Capital and reserves 92,395 0
Total liabilities 2,172,324 −8,755

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