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Consolidated financial statement of the Eurosystem as at 17 October 2014

21 October 2014

Items not related to monetary policy operations

In the week ending 17 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) decreased by EUR 0.2 billion to EUR 227.3 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) increased by EUR 0.8 billion to EUR 367.9 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.3 billion to EUR 972.9 billion. Liabilities to general government (liability item 5.1) increased by EUR 3.1 billion to EUR 75.6 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) decreased by EUR 13.4 billion to EUR 470.2 billion. On Wednesday, 15 October 2014, a main refinancing operation of EUR 84.2 billion matured and a new one of EUR 82.5 billion, with a maturity of one week, was settled.

During the week, EUR 5.9 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 29 billion (compared with EUR 23.1 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 2.8 billion to EUR 191.2 billion. This decrease was due to the redemption of securities acquired under the Securities Markets Programme and under the first covered bond purchase programme. Therefore, in the week ending 17 October 2014, the value of accumulated purchases under the Securities Markets Programme amounted to EUR 146.4 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 19.8 billion to EUR 184.8 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 334,531 0
2 Claims on non-euro area residents denominated in foreign currency 262,374 −586
2.1 Receivables from the IMF 84,300 4
2.2 Balances with banks and security investments, external loans and other external assets 178,074 −590
3 Claims on euro area residents denominated in foreign currency 27,177 −1,556
4 Claims on non-euro area residents denominated in euro 20,744 −370
4.1 Balances with banks, security investments and loans 20,744 −370
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 499,224 −7,536
5.1 Main refinancing operations 82,518 −1,695
5.2 Longer-term refinancing operations 416,581 −5,855
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 125 13
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 65,598 −54
7 Securities of euro area residents denominated in euro 559,090 −2,003
7.1 Securities held for monetary policy purposes 191,240 −2,806
7.2 Other securities 367,850 803
8 General government debt denominated in euro 26,727 0
9 Other assets 234,260 −854
Total assets 2,029,725 −12,959
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 972,948 −1,350
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 213,852 −13,944
2.1 Current accounts (covering the minimum reserve system) 184,784 −19,844
2.2 Deposit facility 29,045 5,940
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 23 −40
3 Other liabilities to euro area credit institutions denominated in euro 4,699 −75
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 108,549 5,329
5.1 General government 75,637 3,067
5.2 Other liabilities 32,913 2,262
6 Liabilities to non-euro area residents denominated in euro 36,835 −2,299
7 Liabilities to euro area residents denominated in foreign currency 1,084 −114
8 Liabilities to non-euro area residents denominated in foreign currency 5,681 −1,821
8.1 Deposits, balances and other liabilities 5,681 −1,821
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 219,733 1,315
11 Revaluation accounts 315,537 0
12 Capital and reserves 95,312 0
Total liabilities 2,029,725 −12,959

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