Consolidated financial statement of the Eurosystem as at 31 October 2014

4 November 2014

Items not related to monetary policy operations

In the week ending 31 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 227.7 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 4.7 billion to EUR 364.2 billion. Banknotes in circulation (liability item 1) increased by EUR 4.1 billion to EUR 975.2 billion. Liabilities to general government (liability item 5.1) decreased by EUR 45.4 billion to EUR 56.8 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 12.4 billion to EUR 489.2 billion. On Wednesday, 29 October 2014, a main refinancing operation of EUR 92.9 billion matured and a new one of EUR 118.2 billion, with a maturity of one week, was settled.

During the week, a longer-term refinancing operation of EUR 6.8 billion matured and a new one of EUR 10.2 billion was settled, while EUR 5.7 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was EUR 1 billion (compared with EUR 0.2 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 38.4 billion (compared with EUR 27.1 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 0.6 billion to EUR 192.9 billion. The table below provides the detailed breakdown of asset item 7.1 into the different portfolios. All portfolios are accounted for at amortised cost.

Monetary policy securities portfolios Reported value as at 31 October 2014 Difference compared with last week - Purchases Difference compared with last week - Redemptions
Covered bond purchase programme 1 EUR 30.4 billion - EUR 0.5 billion
Covered bond purchase programme 2 EUR 13.2 billion - EUR 0.2 billion
Covered bond purchase programme 3 EUR 4.8 billion EUR 3.1 billion -
Securities Markets Programme EUR 144.6 billion - EUR 1.8 billion

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 41.6 billion to EUR 211.6 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 334,532 0
2 Claims on non-euro area residents denominated in foreign currency 262,933 −648
2.1 Receivables from the IMF 84,285 −1
2.2 Balances with banks and security investments, external loans and other external assets 178,648 −647
3 Claims on euro area residents denominated in foreign currency 27,904 1,034
4 Claims on non-euro area residents denominated in euro 22,340 1,134
4.1 Balances with banks, security investments and loans 22,340 1,134
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 527,627 23,724
5.1 Main refinancing operations 118,152 25,234
5.2 Longer-term refinancing operations 408,472 −2,286
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 1,003 803
5.6 Credits related to margin calls 0 −27
6 Other claims on euro area credit institutions denominated in euro 59,831 −1,006
7 Securities of euro area residents denominated in euro 557,088 −4,089
7.1 Securities held for monetary policy purposes 192,933 583
7.2 Other securities 364,154 −4,672
8 General government debt denominated in euro 26,727 0
9 Other assets 233,088 −862
Total assets 2,052,070 19,287
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 975,233 4,127
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 250,027 52,876
2.1 Current accounts (covering the minimum reserve system) 211,585 41,580
2.2 Deposit facility 38,415 11,288
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 27 8
3 Other liabilities to euro area credit institutions denominated in euro 4,781 25
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 93,070 −40,971
5.1 General government 56,837 −45,393
5.2 Other liabilities 36,234 4,423
6 Liabilities to non-euro area residents denominated in euro 39,122 2,956
7 Liabilities to euro area residents denominated in foreign currency 1,346 234
8 Liabilities to non-euro area residents denominated in foreign currency 6,282 −122
8.1 Deposits, balances and other liabilities 6,282 −122
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 215,866 160
11 Revaluation accounts 315,537 0
12 Capital and reserves 95,313 1
Total liabilities 2,052,070 19,287

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