Consolidated financial statement of the Eurosystem as at 19 December 2014

Items not related to monetary policy operations

In the week ending 19 December 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 0.6 billion to EUR 229.9 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 2.0 billion to EUR 370.4 billion. Banknotes in circulation (liability item 1) increased by EUR 11.2 billion to EUR 1,003.8 billion. Liabilities to general government (liability item 5.1) increased by EUR 15.8 billion to EUR 80.6 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) increased by EUR 82.8 billion to EUR 540.5 billion. On Wednesday, 17 December 2014, a main refinancing operation of EUR 105.2 billion matured and a new one of EUR 99 billion, with a maturity of six days, was settled. On the same day, a targeted longer-term refinancing operation (TLTRO) of EUR 129.8 billion, with a maturity of 1,379 days, was settled.

During the week, a longer-term refinancing operation of EUR 11 billion matured and a new one of EUR 22.3 billion was settled, while EUR 39.8 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.1 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 38.9 billion (compared with EUR 26.5 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 4 billion to EUR 215.5 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.

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 56.4 billion to EUR 245.1 billion.