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Consolidated financial statement of the Eurosystem as at 1 August 2014

5 August 2014

Items not related to monetary policy operations

In the week ending 1 August 2014 gold and gold receivables (asset item 1) increased by EUR 1 million owing to the 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 0.1 billion to EUR 213.3 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
31 July 2014 7-day US dollar liquidity-providing reverse transaction USD 75 million USD 75 million

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 5 billion to EUR 357.8 billion. Banknotes in circulation (liability item 1) increased by EUR 6 billion to EUR 971.4 billion. Liabilities to general government (liability item 5.1) decreased by EUR 36.3 billion to EUR 70.9 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 2.9 billion to EUR 489.4 billion. On Wednesday, 30 July 2014, a main refinancing operation of EUR 97.9 billion matured and a new one of EUR 133.3 billion, with a maturity of one week, was settled.

During the week a longer-term refinancing operation of EUR 13.2 billion matured and a new one of EUR 6.8 billion was settled, while EUR 3 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 0.4 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 44.1 billion (compared with EUR 21.3 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 4.5 billion to EUR 199 billion. This decrease was due to the redemption of securities acquired under the Securities Markets Programme and under the first and second covered bond purchase programmes. Therefore, in the week ending 1 August 2014, the value of accumulated purchases under the Securities Markets Programme amounted to EUR 152.3 billion, while the value of the portfolios held under the first and second covered bond purchase programmes totalled EUR 32.9 billion and EUR 13.8 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 23.3 billion to EUR 219.7 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 334,432 1
2 Claims on non-euro area residents denominated in foreign currency 248,462 347
2.1 Receivables from the IMF 81,655 20
2.2 Balances with banks and security investments, external loans and other external assets 166,807 327
3 Claims on euro area residents denominated in foreign currency 24,897 −308
4 Claims on non-euro area residents denominated in euro 18,526 −111
4.1 Balances with banks, security investments and loans 18,526 −111
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 533,535 25,717
5.1 Main refinancing operations 133,304 35,417
5.2 Longer-term refinancing operations 400,184 −9,383
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 45 −319
5.6 Credits related to margin calls 3 2
6 Other claims on euro area credit institutions denominated in euro 74,200 −47
7 Securities of euro area residents denominated in euro 556,809 −9,498
7.1 Securities held for monetary policy purposes 199,011 −4,453
7.2 Other securities 357,799 −5,045
8 General government debt denominated in euro 26,705 0
9 Other assets 242,118 −729
Total assets 2,059,683 15,371
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 971,423 5,959
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 263,858 46,130
2.1 Current accounts (covering the minimum reserve system) 219,715 23,349
2.2 Deposit facility 44,118 22,783
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 25 −2
3 Other liabilities to euro area credit institutions denominated in euro 4,818 1
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 105,767 −34,156
5.1 General government 70,879 −36,267
5.2 Other liabilities 34,888 2,110
6 Liabilities to non-euro area residents denominated in euro 44,234 −4,227
7 Liabilities to euro area residents denominated in foreign currency 1,269 186
8 Liabilities to non-euro area residents denominated in foreign currency 5,399 −203
8.1 Deposits, balances and other liabilities 5,399 −203
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 53,368 0
10 Other liabilities 212,818 1,682
11 Revaluation accounts 301,418 0
12 Capital and reserves 95,311 0
Total liabilities 2,059,683 15,371

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