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Consolidated financial statement of the Eurosystem as at 27 June 2014

1 July 2014

Items not related to monetary policy operations

In the week ending 27 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 209.7 billion on account of customer and portfolio transactions.

During the week the Eurosystem did not conduct 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 1.2 billion to EUR 360.7 billion. Banknotes in circulation (liability item 1) increased by EUR 2.4 billion to EUR 958.3 billion. Liabilities to general government (liability item 5.1) increased by EUR 1.8 billion to EUR 131.9 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 4.5 billion to EUR 542.9 billion. On Wednesday, 25 June 2014, a main refinancing operation of EUR 97.9 billion matured and a new one of EUR 115 billion, with a maturity of one week, was settled.

During the week, a longer-term refinancing operation of EUR 11.6 billion matured and a new one of EUR 10.4 billion was settled, while EUR 12.6 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with virtually nil in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 25.4 billion (compared with EUR 26.5 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) remained virtually unchanged at EUR 209.9 billion. Therefore, in the week ending 27 June 2014 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 160.6 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 35.1 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 6.5 billion to EUR 217.7 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 326,479 0
2 Claims on non-euro area residents denominated in foreign currency 244,416 1
2.1 Receivables from the IMF 80,602 −349
2.2 Balances with banks and security investments, external loans and other external assets 163,814 350
3 Claims on euro area residents denominated in foreign currency 24,394 −1,148
4 Claims on non-euro area residents denominated in euro 18,563 159
4.1 Balances with banks, security investments and loans 18,563 159
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 568,373 3,355
5.1 Main refinancing operations 115,041 17,154
5.2 Longer-term refinancing operations 453,276 −13,849
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 56 50
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 65,198 2,300
7 Securities of euro area residents denominated in euro 570,574 1,201
7.1 Securities held for monetary policy purposes 209,920 0
7.2 Other securities 360,654 1,201
8 General government debt denominated in euro 27,267 0
9 Other assets 242,834 2,256
Total assets 2,088,099 8,124
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 958,314 2,384
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 243,158 5,380
2.1 Current accounts (covering the minimum reserve system) 217,727 6,502
2.2 Deposit facility 25,423 −1,121
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 7 0
3 Other liabilities to euro area credit institutions denominated in euro 8,560 546
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 171,568 3,272
5.1 General government 131,873 1,785
5.2 Other liabilities 39,695 1,487
6 Liabilities to non-euro area residents denominated in euro 59,728 −1,921
7 Liabilities to euro area residents denominated in foreign currency 809 −248
8 Liabilities to non-euro area residents denominated in foreign currency 5,477 −715
8.1 Deposits, balances and other liabilities 5,477 −715
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 203,433 −579
11 Revaluation accounts 288,913 0
12 Capital and reserves 95,309 4
Total liabilities 2,088,099 8,124

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