Consolidated financial statement of the Eurosystem as at 29 August 2014

2 September 2014

Items not related to monetary policy operations

In the week ending 29 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) remained virtually unchanged at 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
28 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 2.1 billion to EUR 364.4 billion. Banknotes in circulation (liability item 1) increased by EUR 1 billion to EUR 971.3 billion. Liabilities to general government (liability item 5.1) decreased by EUR 2.6 billion to EUR 63.8 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 14.7 billion to EUR 486.7 billion. On Wednesday, 27 August 2014, a main refinancing operation of EUR 107.6 billion matured and a new one of EUR 131.8 billion, with a maturity of one week, was settled.

During the week, a longer-term refinancing operation of EUR 10.9 billion matured and a new one of EUR 7.2 billion was settled, while EUR 1.4 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.9 billion (compared with virtually nil in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 30.9 billion (compared with EUR 25.6 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) remained unchanged at EUR 195.4 billion. Therefore, in the week ending 29 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) increased by EUR 17.5 billion to EUR 222.8 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 334,433 0
2 Claims on non-euro area residents denominated in foreign currency 249,547 264
2.1 Receivables from the IMF 80,873 40
2.2 Balances with banks and security investments, external loans and other external assets 168,675 224
3 Claims on euro area residents denominated in foreign currency 24,229 −79
4 Claims on non-euro area residents denominated in euro 20,881 977
4.1 Balances with banks, security investments and loans 20,881 977
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 517,578 19,942
5.1 Main refinancing operations 131,762 24,150
5.2 Longer-term refinancing operations 384,899 −5,064
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 917 913
5.6 Credits related to margin calls 0 −57
6 Other claims on euro area credit institutions denominated in euro 62,628 687
7 Securities of euro area residents denominated in euro 559,853 2,138
7.1 Securities held for monetary policy purposes 195,445 0
7.2 Other securities 364,409 2,138
8 General government debt denominated in euro 26,709 0
9 Other assets 242,857 1,768
Total assets 2,038,716 25,697
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 971,290 1,016
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 253,654 22,779
2.1 Current accounts (covering the minimum reserve system) 222,757 17,541
2.2 Deposit facility 30,864 5,238
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 4,854 53
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 93,069 −2,000
5.1 General government 63,774 −2,596
5.2 Other liabilities 29,295 595
6 Liabilities to non-euro area residents denominated in euro 41,585 −413
7 Liabilities to euro area residents denominated in foreign currency 1,050 −32
8 Liabilities to non-euro area residents denominated in foreign currency 6,052 203
8.1 Deposits, balances and other liabilities 6,052 203
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 217,064 4,091
11 Revaluation accounts 301,418 0
12 Capital and reserves 95,312 0
Total liabilities 2,038,716 25,697

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