Menu

Consolidated financial statement of the Eurosystem as at 5 December 2014

9 December 2014

Items not related to monetary policy operations

In the week ending 5 December 2014 gold and gold receivables (asset item 1) decreased by EUR 1 million owing to the sale of gold by a Eurosystem central bank.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) increased by EUR 1.8 billion to EUR 231.9 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) increased by EUR 1.2 billion to EUR 367.2 billion. Banknotes in circulation (liability item 1) increased by EUR 7.9 billion to EUR 988.9 billion. Liabilities to general government (liability item 5.1) increased by EUR 14.9 billion to EUR 71 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 14.9 billion to EUR 463.1 billion. On Wednesday, 3 December 2014, a main refinancing operation of EUR 114.3 billion matured and a new one of EUR 98 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) was EUR 0.1 billion (compared with EUR 0.7 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 28 billion (compared with EUR 35.8 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 3.4 billion to EUR 207.5 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 5 December 2014 Difference compared with last week – purchases Difference compared with last week – redemptions
Covered bond purchase programme 1 EUR 29.3 billion - -
Covered bond purchase programme 2 EUR 12.8 billion - -
Covered bond purchase programme 3 EUR 20.9 billion EUR 3.1 billion -
Asset-backed securities purchase programme EUR 0.6 billion EUR 0.2 billion -
Securities Markets Programme EUR 143.9 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) decreased by EUR 30.5 billion to EUR 177.8 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 334,529 −1
2 Claims on non-euro area residents denominated in foreign currency 267,502 3,252
2.1 Receivables from the IMF 83,662 59
2.2 Balances with banks and security investments, external loans and other external assets 183,839 3,193
3 Claims on euro area residents denominated in foreign currency 27,493 −1,271
4 Claims on non-euro area residents denominated in euro 18,188 −481
4.1 Balances with banks, security investments and loans 18,188 −481
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 491,073 −22,714
5.1 Main refinancing operations 98,046 −16,258
5.2 Longer-term refinancing operations 392,936 −5,864
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 91 −591
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 58,152 40
7 Securities of euro area residents denominated in euro 574,763 4,520
7.1 Securities held for monetary policy purposes 207,520 3,359
7.2 Other securities 367,243 1,161
8 General government debt denominated in euro 26,727 0
9 Other assets 239,666 854
Total assets 2,038,091 −15,801
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 988,933 7,925
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 205,792 −38,285
2.1 Current accounts (covering the minimum reserve system) 177,773 −30,482
2.2 Deposit facility 28,015 −7,802
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 3 −1
3 Other liabilities to euro area credit institutions denominated in euro 4,822 102
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 107,731 15,430
5.1 General government 70,971 14,873
5.2 Other liabilities 36,759 557
6 Liabilities to non-euro area residents denominated in euro 39,675 −184
7 Liabilities to euro area residents denominated in foreign currency 1,479 365
8 Liabilities to non-euro area residents denominated in foreign currency 6,120 −168
8.1 Deposits, balances and other liabilities 6,120 −168
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 218,497 −986
11 Revaluation accounts 315,537 0
12 Capital and reserves 94,013 0
Total liabilities 2,038,091 −15,801

Media contacts