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Consolidated financial statement of the Eurosystem as at 6 June 2014

10 June 2014

Items not related to monetary policy operations

In the week ending 6 June 2014, gold and gold receivables (asset item 1) increased by EUR 1 million owing to a purchase of gold coin.

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 210.7 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 358 billion. Banknotes in circulation (liability item 1) increased by EUR 4 billion to EUR 957.8 billion. Liabilities to general government (liability item 5.1) decreased by EUR 19.5 billion to EUR 100.3 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 40.2 billion to EUR 496.7 billion. On Wednesday, 4 June 2014, a main refinancing operation of EUR 174 billion matured and a new one of EUR 149.4 billion, with a maturity of one week, was settled. On the same day, fixed-term deposits in an amount of EUR 102.9 billion matured and new deposits were collected in an amount of EUR 119.2 billion, with a maturity of one week.

During the week, EUR 1.8 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 0.1 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 37.3 billion (compared with EUR 39.9 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 2.4 billion to EUR 212.8 billion. This decrease was due to the redemption of securities acquired under the first and second covered bond purchase programmes, as well as under the Securities Markets Programme. Therefore, in the week ending 6 June 2014 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 162.7 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 35.9 billion and EUR 14.2 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 22.3 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 326,478 1
2 Claims on non-euro area residents denominated in foreign currency 248,259 2,357
2.1 Receivables from the IMF 81,666 347
2.2 Balances with banks and security investments, external loans and other external assets 166,593 2,010
3 Claims on euro area residents denominated in foreign currency 22,865 −923
4 Claims on non-euro area residents denominated in euro 19,925 333
4.1 Balances with banks, security investments and loans 19,925 333
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 653,280 −26,468
5.1 Main refinancing operations 149,351 −24,651
5.2 Longer-term refinancing operations 503,892 −1,790
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 37 −27
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 61,125 3,716
7 Securities of euro area residents denominated in euro 570,850 −2,895
7.1 Securities held for monetary policy purposes 212,847 −2,412
7.2 Other securities 358,003 −483
8 General government debt denominated in euro 27,267 0
9 Other assets 242,266 −900
Total assets 2,172,316 −24,778
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 957,808 3,991
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 343,693 −8,494
2.1 Current accounts (covering the minimum reserve system) 187,123 −22,269
2.2 Deposit facility 37,312 −2,598
2.3 Fixed-term deposits 119,200 16,323
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 58 51
3 Other liabilities to euro area credit institutions denominated in euro 1,848 161
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 141,639 −21,369
5.1 General government 100,291 −19,466
5.2 Other liabilities 41,348 −1,903
6 Liabilities to non-euro area residents denominated in euro 78,278 1,821
7 Liabilities to euro area residents denominated in foreign currency 989 −16
8 Liabilities to non-euro area residents denominated in foreign currency 6,638 1,296
8.1 Deposits, balances and other liabilities 6,638 1,296
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 206,278 −2,927
11 Revaluation accounts 288,913 0
12 Capital and reserves 93,403 759
Total liabilities 2,172,316 −24,778

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