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Consolidated financial statement of the Eurosystem as at 26 December 2014

30 December 2014

Items not related to monetary policy operations

In the week ending 26 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) increased by EUR 1.3 billion to EUR 231.2 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 0.2 billion to EUR 370.6 billion. Banknotes in circulation (liability item 1) rose by EUR 13.4 billion to EUR 1,017.2 billion. Liabilities to general government (liability item 5.1) decreased by EUR 14.1 billion to EUR 66.4 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 8.5 billion to EUR 549 billion. On Tuesday, 23 December 2014, a main refinancing operation of EUR 99 billion matured and a new one of EUR 119.2 billion, with a maturity of seven days, was settled.

During the week, EUR 7.1 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (similar to the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 43.5 billion (compared with EUR 38.9 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 1.4 billion to EUR 216.9 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 26 December 2014 Difference compared with last week – purchases Difference compared with last week – redemptions
Covered bond purchase programme 1 EUR 28.8 billion - -
Covered bond purchase programme 2 EUR 12.8 billion - -
Covered bond purchase programme 3 EUR 29.7 billion EUR 1.1 billion -
Asset-backed securities purchase programme EUR 1.7 billion EUR 0.3 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) increased by EUR 11.3 billion to EUR 256.4 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 0
2 Claims on non-euro area residents denominated in foreign currency 266,084 142
2.1 Receivables from the IMF 80,311 −19
2.2 Balances with banks and security investments, external loans and other external assets 185,773 161
3 Claims on euro area residents denominated in foreign currency 28,654 814
4 Claims on non-euro area residents denominated in euro 19,434 135
4.1 Balances with banks, security investments and loans 19,434 135
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 592,486 13,100
5.1 Main refinancing operations 119,162 20,135
5.2 Longer-term refinancing operations 473,285 −7,071
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 39 36
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 58,687 647
7 Securities of euro area residents denominated in euro 587,519 1,629
7.1 Securities held for monetary policy purposes 216,901 1,387
7.2 Other securities 370,618 242
8 General government debt denominated in euro 26,726 0
9 Other assets 236,128 −1,022
Total assets 2,150,247 15,445
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 1,017,202 13,414
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 299,964 15,944
2.1 Current accounts (covering the minimum reserve system) 256,439 11,344
2.2 Deposit facility 43,525 4,600
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 0 0
3 Other liabilities to euro area credit institutions denominated in euro 4,880 −33
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 93,044 −13,778
5.1 General government 66,433 −14,118
5.2 Other liabilities 26,611 340
6 Liabilities to non-euro area residents denominated in euro 47,239 323
7 Liabilities to euro area residents denominated in foreign currency 1,268 −69
8 Liabilities to non-euro area residents denominated in foreign currency 6,787 −261
8.1 Deposits, balances and other liabilities 6,787 −261
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 214,817 −97
11 Revaluation accounts 315,537 0
12 Capital and reserves 94,015 2
Total liabilities 2,150,247 15,445

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