Consolidated financial statement of the Eurosystem as at 13 June 2014

17 June 2014

Items not related to monetary policy operations

In the week ending 13 June 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) decreased by EUR 0.2 billion to EUR 210.5 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 0.6 billion to EUR 357.4 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.3 billion to EUR 956.5 billion. Liabilities to general government (liability item 5.1) decreased by EUR 11.1 billion to EUR 89.2 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 15.1 billion to EUR 481.6 billion. On Wednesday, 11 June 2014, a main refinancing operation of EUR 149.4 billion matured and a new one of EUR 136.8 billion, with a maturity of one week, was settled. On the same day, fixed-term deposits in an amount of EUR 119.2 billion matured and new deposits were collected in an amount of EUR 108.6 billion, with a maturity of one week.

During the week, a longer-term refinancing operation of EUR 32.3 billion matured and a new one of EUR 10 billion was settled, while EUR 10.7 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) remained virtually nil, while recourse to the deposit facility (liability item 2.2) was EUR 17.2 billion (compared with EUR 37.3 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.3 billion to EUR 212.5 billion. This decrease was due to the redemption of securities acquired under the first covered bond purchase programme. Therefore, in the week ending 13 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 35.6 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) increased by EUR 12.7 billion to EUR 199.8 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 0
2 Claims on non-euro area residents denominated in foreign currency 247,484 −775
2.1 Receivables from the IMF 81,553 −114
2.2 Balances with banks and security investments, external loans and other external assets 165,931 −662
3 Claims on euro area residents denominated in foreign currency 23,399 533
4 Claims on non-euro area residents denominated in euro 18,836 −1,089
4.1 Balances with banks, security investments and loans 18,836 −1,089
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 607,617 −45,663
5.1 Main refinancing operations 136,766 −12,585
5.2 Longer-term refinancing operations 470,840 −33,053
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 11 −26
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 63,814 2,690
7 Securities of euro area residents denominated in euro 569,966 −883
7.1 Securities held for monetary policy purposes 212,543 −304
7.2 Other securities 357,423 −579
8 General government debt denominated in euro 27,267 0
9 Other assets 239,419 −2,847
Total assets 2,124,281 −48,036
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 956,549 −1,259
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 325,814 −17,880
2.1 Current accounts (covering the minimum reserve system) 199,831 12,708
2.2 Deposit facility 17,175 −20,137
2.3 Fixed-term deposits 108,650 −10,551
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 158 100
3 Other liabilities to euro area credit institutions denominated in euro 2,663 815
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 124,145 −17,494
5.1 General government 89,214 −11,077
5.2 Other liabilities 34,931 −6,417
6 Liabilities to non-euro area residents denominated in euro 67,104 −11,173
7 Liabilities to euro area residents denominated in foreign currency 971 −18
8 Liabilities to non-euro area residents denominated in foreign currency 6,588 −50
8.1 Deposits, balances and other liabilities 6,588 −50
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 205,302 −976
11 Revaluation accounts 288,913 0
12 Capital and reserves 93,403 0
Total liabilities 2,124,281 −48,036

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