Consolidated financial statement of the Eurosystem as at 11 April 2014

15 April 2014

Items not related to monetary policy operations

In the week ending 11 April 2014 gold and gold receivables (asset item 1) decreased by EUR 2 million.

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 209.2 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 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 0.1 billion to EUR 363.4 billion. Banknotes in circulation (liability item 1) increased by EUR 1.6 billion to EUR 944.2 billion. Liabilities to general government (liability item 5.1) decreased by EUR 1.1 billion to EUR 68.9 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) increased by EUR 16.8 billion to EUR 442.9 billion. On Wednesday, 9 April 2014, a main refinancing operation of EUR 110.6 billion matured and a new one of EUR 104.6 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 amount of EUR 172.5 billion, with a maturity of one week.

During the week, a longer-term refinancing operation of EUR 7.5 billion matured and a new one of EUR 28 billion was settled, while EUR 4.9 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.2 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 21.2 billion (compared with EUR 25.7 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.2 billion to EUR 224.7 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 11 April 2014 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 172.7 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 37.8 billion and EUR 14.4 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 17.1 billion to EUR 198.2 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 326,547 −2
2 Claims on non-euro area residents denominated in foreign currency 244,422 10
2.1 Receivables from the IMF 80,949 10
2.2 Balances with banks and security investments, external loans and other external assets 163,473 0
3 Claims on euro area residents denominated in foreign currency 23,509 433
4 Claims on non-euro area residents denominated in euro 17,727 378
4.1 Balances with banks, security investments and loans 17,727 378
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 636,727 9,376
5.1 Main refinancing operations 104,619 −6,024
5.2 Longer-term refinancing operations 532,107 15,622
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 0 −222
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 64,912 −1,625
7 Securities of euro area residents denominated in euro 588,067 −306
7.1 Securities held for monetary policy purposes 224,668 −241
7.2 Other securities 363,400 −64
8 General government debt denominated in euro 28,219 0
9 Other assets 238,951 −170
Total assets 2,169,081 8,094
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 944,154 1,621
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 392,036 9,666
2.1 Current accounts (covering the minimum reserve system) 198,232 17,087
2.2 Deposit facility 21,154 −4,570
2.3 Fixed-term deposits 172,500 −3,000
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 150 149
3 Other liabilities to euro area credit institutions denominated in euro 4,105 −6,203
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 99,868 4,774
5.1 General government 68,860 −1,064
5.2 Other liabilities 31,008 5,839
6 Liabilities to non-euro area residents denominated in euro 82,871 −1,259
7 Liabilities to euro area residents denominated in foreign currency 1,071 −73
8 Liabilities to non-euro area residents denominated in foreign currency 4,862 227
8.1 Deposits, balances and other liabilities 4,862 227
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 52,830 0
10 Other liabilities 205,394 −659
11 Revaluation accounts 288,913 0
12 Capital and reserves 92,978 0
Total liabilities 2,169,081 8,094

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