Consolidated financial statement of the Eurosystem as at 25 April 2014

29 April 2014

Items not related to monetary policy operations

In the week ending 25 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 0.8 billion to EUR 210.2 billion on account of customer and portfolio transactions and US dollar liquidity-providing operations (see below).

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
24 April 2014 84-day US dollar liquidity-providing reverse transaction USD 0.2 billion USD 0.1 billion

The liquidity-providing transactions were conducted by the Eurosystem 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 1.6 billion to EUR 362 billion. Banknotes in circulation (liability item 1) decreased by EUR 5.6 billion to EUR 946.4 billion. Liabilities to general government (liability item 5.1) increased by EUR 27.4 billion to EUR 91.1 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 5.5 billion to EUR 447.4 billion. On Wednesday, 23 April 2014, a main refinancing operation of EUR 112.2 billion matured and a new one of EUR 121.8 billion, with a maturity of one week, was settled. On the same day, fixed-term deposits in an amount of EUR 153.4 billion matured and new deposits were collected in an amount of EUR 166.8 billion, with a maturity of one week.

During the week EUR 7.5 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 0.3 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 24 billion (compared with EUR 30.1 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 25 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) decreased by EUR 36.8 billion to EUR 166.1 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 326,547 0
2 Claims on non-euro area residents denominated in foreign currency 245,198 1,090
2.1 Receivables from the IMF 81,751 807
2.2 Balances with banks and security investments, external loans and other external assets 163,447 283
3 Claims on euro area residents denominated in foreign currency 23,802 −34
4 Claims on non-euro area residents denominated in euro 18,416 1,076
4.1 Balances with banks, security investments and loans 18,416 1,076
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 638,141 1,832
5.1 Main refinancing operations 121,816 9,650
5.2 Longer-term refinancing operations 516,306 −7,536
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 18 −283
5.6 Credits related to margin calls 1 0
6 Other claims on euro area credit institutions denominated in euro 60,051 −3,547
7 Securities of euro area residents denominated in euro 586,687 −1,630
7.1 Securities held for monetary policy purposes 224,668 0
7.2 Other securities 362,019 −1,630
8 General government debt denominated in euro 28,219 0
9 Other assets 242,002 2,473
Total assets 2,169,061 1,261
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 946,353 −5,581
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 356,899 −29,498
2.1 Current accounts (covering the minimum reserve system) 166,145 −36,799
2.2 Deposit facility 23,974 −6,084
2.3 Fixed-term deposits 166,780 13,416
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 1 −31
3 Other liabilities to euro area credit institutions denominated in euro 4,013 −44
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 129,189 30,498
5.1 General government 91,136 27,438
5.2 Other liabilities 38,052 3,060
6 Liabilities to non-euro area residents denominated in euro 80,490 2,203
7 Liabilities to euro area residents denominated in foreign currency 1,432 130
8 Liabilities to non-euro area residents denominated in foreign currency 4,533 120
8.1 Deposits, balances and other liabilities 4,533 120
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 211,432 3,433
11 Revaluation accounts 288,913 0
12 Capital and reserves 92,978 0
Total liabilities 2,169,061 1,261

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