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Consolidated financial statement of the Eurosystem as at 5 September 2014

9 September 2014

Items not related to monetary policy operations

In the week ending 5 September 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 0.6 billion to EUR 213.9 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
4 September 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 0.9 billion to EUR 365.3 billion. Banknotes in circulation (liability item 1) increased by EUR 1.3 billion to EUR 972.6 billion. Liabilities to general government (liability item 5.1) increased by EUR 6.9 billion to EUR 70.7 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 20.6 billion to EUR 466.1 billion. On Wednesday, 3 September 2014, a main refinancing operation of EUR 131.8 billion matured and a new one of EUR 111.2 billion, with a maturity of one week, was settled.

During the week, EUR 3.5 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 EUR 0.9 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 26.7 billion (compared with EUR 30.9 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 5 September 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 29 billion to EUR 193.7 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 334,433 0
2 Claims on non-euro area residents denominated in foreign currency 249,786 238
2.1 Receivables from the IMF 81,425 552
2.2 Balances with banks and security investments, external loans and other external assets 168,361 −314
3 Claims on euro area residents denominated in foreign currency 25,385 1,156
4 Claims on non-euro area residents denominated in euro 21,834 953
4.1 Balances with banks, security investments and loans 21,834 953
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 492,726 −24,853
5.1 Main refinancing operations 111,199 −20,563
5.2 Longer-term refinancing operations 381,390 −3,509
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 116 −801
5.6 Credits related to margin calls 21 21
6 Other claims on euro area credit institutions denominated in euro 62,390 −238
7 Securities of euro area residents denominated in euro 560,740 886
7.1 Securities held for monetary policy purposes 195,445 0
7.2 Other securities 365,295 886
8 General government debt denominated in euro 26,709 0
9 Other assets 238,127 −4,730
Total assets 2,012,130 −26,586
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 972,555 1,266
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 220,386 −33,269
2.1 Current accounts (covering the minimum reserve system) 193,719 −29,039
2.2 Deposit facility 26,650 −4,214
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 17 −16
3 Other liabilities to euro area credit institutions denominated in euro 4,855 1
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 98,476 5,407
5.1 General government 70,689 6,915
5.2 Other liabilities 27,787 −1,508
6 Liabilities to non-euro area residents denominated in euro 43,165 1,580
7 Liabilities to euro area residents denominated in foreign currency 932 −118
8 Liabilities to non-euro area residents denominated in foreign currency 7,013 961
8.1 Deposits, balances and other liabilities 7,013 961
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 214,651 −2,413
11 Revaluation accounts 301,418 0
12 Capital and reserves 95,312 0
Total liabilities 2,012,130 −26,586

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