Consolidated financial statement of the Eurosystem as at 27 June 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.