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Consolidated financial statement of the Eurosystem as at 18 April 2014

23 April 2014

Items not related to monetary policy operations

In the week ending 18 April 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 0.2 billion to EUR 209.4 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 0.3 billion to EUR 363.6 billion. Banknotes in circulation (liability item 1) increased by EUR 7.8 billion to EUR 951.9 billion. Liabilities to general government (liability item 5.1) decreased by EUR 5.2 billion to EUR 63.7 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) increased by EUR 9.9 billion to EUR 452.9 billion. On Wednesday, 16 April 2014, a main refinancing operation of EUR 104.6 billion matured and a new one of EUR 112.2 billion, with a maturity of one week, was settled. On the same day, fixed-term deposits in an amount of EUR 172.5 billion matured and new deposits were collected in the amount of EUR 153.4 billion, with a maturity of one week.

During the week EUR 8.3 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 virtually nil in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 30.1 billion (compared with EUR 21.2 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 18 April 2014 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 172.5 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 4.7 billion to EUR 202.9 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 326,546 0
2 Claims on non-euro area residents denominated in foreign currency 244,108 −314
2.1 Receivables from the IMF 80,944 −5
2.2 Balances with banks and security investments, external loans and other external assets 163,164 −309
3 Claims on euro area residents denominated in foreign currency 23,836 327
4 Claims on non-euro area residents denominated in euro 17,340 −388
4.1 Balances with banks, security investments and loans 17,340 −388
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 636,308 −418
5.1 Main refinancing operations 112,165 7,546
5.2 Longer-term refinancing operations 523,842 −8,265
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 301 301
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 63,597 −1,315
7 Securities of euro area residents denominated in euro 588,317 250
7.1 Securities held for monetary policy purposes 224,668 0
7.2 Other securities 363,650 250
8 General government debt denominated in euro 28,219 0
9 Other assets 239,528 577
Total assets 2,167,801 −1,281
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 951,934 7,780
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 386,397 −5,639
2.1 Current accounts (covering the minimum reserve system) 202,945 4,713
2.2 Deposit facility 30,057 8,903
2.3 Fixed-term deposits 153,364 −19,137
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 32 −118
3 Other liabilities to euro area credit institutions denominated in euro 4,057 −49
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 98,691 −1,177
5.1 General government 63,698 −5,161
5.2 Other liabilities 34,992 3,984
6 Liabilities to non-euro area residents denominated in euro 78,287 −4,583
7 Liabilities to euro area residents denominated in foreign currency 1,303 232
8 Liabilities to non-euro area residents denominated in foreign currency 4,412 −449
8.1 Deposits, balances and other liabilities 4,412 −449
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 208,000 2,605
11 Revaluation accounts 288,913 0
12 Capital and reserves 92,978 0
Total liabilities 2,167,801 −1,281

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