Consolidated financial statement of the Eurosystem as at 14 November 2014

18 November 2014

Items not related to monetary policy operations

In the week ending 14 November 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 227.9 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) remained virtually unchanged at EUR 365 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.3 billion to EUR 976.9 billion. Liabilities to general government (liability item 5.1) increased by EUR 9.2 billion to EUR 67.5 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 10.3 billion to EUR 471.1 billion. On Wednesday, 12 November 2014, a main refinancing operation of EUR 98.2 billion matured and a new one of EUR 98.4 billion, with a maturity of one week, was settled.

During the week, EUR 6.4 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 virtually nil in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 25.6 billion (compared with EUR 42 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 2.5 billion to EUR 198 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 14 November 2014 Difference compared with last week - Purchases Difference compared with last week - Redemptions
Covered bond purchase programme 1 EUR 29.9 billion - EUR 0.5 billion
Covered bond purchase programme 2 EUR 13.1 billion - EUR 0.1 billion
Covered bond purchase programme 3 EUR 10.5 billion EUR 3.1 billion -
Securities Markets Programme EUR 144.6 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 3.9 billion to EUR 187 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 263,159 1,781
2.1 Receivables from the IMF 83,806 −100
2.2 Balances with banks and security investments, external loans and other external assets 179,353 1,881
3 Claims on euro area residents denominated in foreign currency 28,020 −57
4 Claims on non-euro area residents denominated in euro 22,608 461
4.1 Balances with banks, security investments and loans 22,608 461
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 496,721 −6,095
5.1 Main refinancing operations 98,421 231
5.2 Longer-term refinancing operations 398,190 −6,432
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 110 106
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 56,042 −1,652
7 Securities of euro area residents denominated in euro 563,038 2,490
7.1 Securities held for monetary policy purposes 198,048 2,486
7.2 Other securities 364,989 4
8 General government debt denominated in euro 26,727 0
9 Other assets 237,308 1,491
Total assets 2,028,156 −1,580
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 976,902 −295
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 212,688 −12,493
2.1 Current accounts (covering the minimum reserve system) 187,042 3,911
2.2 Deposit facility 25,627 −16,405
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 19 0
3 Other liabilities to euro area credit institutions denominated in euro 4,521 121
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 103,366 9,628
5.1 General government 67,472 9,223
5.2 Other liabilities 35,894 405
6 Liabilities to non-euro area residents denominated in euro 39,659 −818
7 Liabilities to euro area residents denominated in foreign currency 1,115 −175
8 Liabilities to non-euro area residents denominated in foreign currency 6,682 1,339
8.1 Deposits, balances and other liabilities 6,682 1,339
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 216,880 1,113
11 Revaluation accounts 315,537 0
12 Capital and reserves 95,313 0
Total liabilities 2,028,156 −1,580

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