Consolidated financial statement of the Eurosystem as at 22 August 2014

26 August 2014

Items not related to monetary policy operations

In the week ending 22 August 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) increased by EUR 0.2 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
21 August 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) increased by EUR 0.4 billion to EUR 362.3 billion. Banknotes in circulation (liability item 1) decreased by EUR 5.4 billion to EUR 970.3 billion. Liabilities to general government (liability item 5.1) increased by EUR 8.7 billion to EUR 66.4 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 9.2 billion to EUR 472 billion. On Wednesday, 20 August 2014, a main refinancing operation of EUR 108.2 billion matured and a new one of EUR 107.6 billion, with a maturity of one week, was settled.

During the week, EUR 2.9 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (as it was in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 25.6 billion (compared with EUR 19.8 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 3.6 billion to EUR 195.4 billion. This decrease was due to the redemption of securities acquired under the Securities Markets Programme. Therefore, in the week ending 22 August 2014, the value of accumulated purchases under the Securities Markets Programme amounted to EUR 148.7 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) decreased by EUR 16.4 billion to EUR 205.2 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 334,433 0
2 Claims on non-euro area residents denominated in foreign currency 249,284 211
2.1 Receivables from the IMF 80,833 11
2.2 Balances with banks and security investments, external loans and other external assets 168,451 200
3 Claims on euro area residents denominated in foreign currency 24,308 −232
4 Claims on non-euro area residents denominated in euro 19,904 653
4.1 Balances with banks, security investments and loans 19,904 653
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 497,636 −3,395
5.1 Main refinancing operations 107,612 −591
5.2 Longer-term refinancing operations 389,963 −2,861
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 4 0
5.6 Credits related to margin calls 57 57
6 Other claims on euro area credit institutions denominated in euro 61,941 −4,818
7 Securities of euro area residents denominated in euro 557,715 −3,165
7.1 Securities held for monetary policy purposes 195,445 −3,566
7.2 Other securities 362,270 401
8 General government debt denominated in euro 26,709 0
9 Other assets 241,089 588
Total assets 2,013,019 −10,156
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 970,274 −5,368
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 230,875 −10,626
2.1 Current accounts (covering the minimum reserve system) 205,216 −16,404
2.2 Deposit facility 25,626 5,777
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 33 0
3 Other liabilities to euro area credit institutions denominated in euro 4,801 −3
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 95,070 8,786
5.1 General government 66,369 8,695
5.2 Other liabilities 28,700 92
6 Liabilities to non-euro area residents denominated in euro 41,998 −1,770
7 Liabilities to euro area residents denominated in foreign currency 1,082 71
8 Liabilities to non-euro area residents denominated in foreign currency 5,850 −271
8.1 Deposits, balances and other liabilities 5,850 −271
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 212,973 −974
11 Revaluation accounts 301,418 0
12 Capital and reserves 95,312 0
Total liabilities 2,013,019 −10,156

Media contacts