Consolidated financial statement of the Eurosystem as at 10 October 2014

14 October 2014

Items not related to monetary policy operations

In the week ending 10 October 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 0.3 billion to EUR 227.5 billion on account of customer and portfolio transactions.

In the past week the Eurosystem has not conducted 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) decreased by EUR 0.2 billion to EUR 367 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.8 billion to EUR 974.3 billion. Liabilities to general government (liability item 5.1) increased by EUR 3.1 billion to EUR 72.6 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) remained virtually unchanged at EUR 483.6 billion. On Wednesday, 8 October 2014, a main refinancing operation of EUR 89.1 billion matured and a new one of EUR 84.2 billion, with a maturity of one week, was settled.

During the week, EUR 2.3 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) remained virtually unchanged at EUR 0.1 billion, while recourse to the deposit facility (liability item 2.2) was EUR 23.1 billion (compared with EUR 30.4 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.6 billion to EUR 194 billion. This decrease was due to the redemption of securities acquired under the first and second covered bond purchase programmes. Therefore, in the week ending 10 October 2014, the value of accumulated purchases under the Securities Markets Programme amounted to EUR 149.1 billion, while the value of the portfolios held under the first and second covered bond purchase programmes totalled EUR 31.4 billion and EUR 13.5 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 2.1 billion to EUR 204.6 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 334,531 0
2 Claims on non-euro area residents denominated in foreign currency 262,961 −91
2.1 Receivables from the IMF 84,296 −195
2.2 Balances with banks and security investments, external loans and other external assets 178,665 104
3 Claims on euro area residents denominated in foreign currency 28,733 885
4 Claims on non-euro area residents denominated in euro 21,114 472
4.1 Balances with banks, security investments and loans 21,114 472
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 506,760 −7,156
5.1 Main refinancing operations 84,212 −4,862
5.2 Longer-term refinancing operations 422,436 −2,288
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 112 −6
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 65,653 −1,320
7 Securities of euro area residents denominated in euro 561,093 −758
7.1 Securities held for monetary policy purposes 194,046 −581
7.2 Other securities 367,047 −176
8 General government debt denominated in euro 26,727 0
9 Other assets 235,114 −3,017
Total assets 2,042,685 −10,983
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 974,298 −842
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 227,796 −9,334
2.1 Current accounts (covering the minimum reserve system) 204,627 −2,150
2.2 Deposit facility 23,105 −7,247
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 64 63
3 Other liabilities to euro area credit institutions denominated in euro 4,775 1
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 103,220 3,220
5.1 General government 72,569 3,075
5.2 Other liabilities 30,651 145
6 Liabilities to non-euro area residents denominated in euro 39,134 −1,872
7 Liabilities to euro area residents denominated in foreign currency 1,198 285
8 Liabilities to non-euro area residents denominated in foreign currency 7,503 241
8.1 Deposits, balances and other liabilities 7,503 241
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 55,494 0
10 Other liabilities 218,418 −2,683
11 Revaluation accounts 315,537 0
12 Capital and reserves 95,312 0
Total liabilities 2,042,685 −10,983

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