Consolidated financial statement of the Eurosystem as at 16 January 2015

20 January 2015

Items not related to monetary policy operations

In the week ending 16 January 2015 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 241.7 billion, on account of customer and portfolio transactions.

During the week, the Eurosystem did not conduct 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 0.3 billion to EUR 373.9 billion. Banknotes in circulation (liability item 1) fell by EUR 5.4 billion to EUR 1,001.4 billion. Liabilities to general government (liability item 5.1) increased by EUR 7.9 billion to EUR 64.9 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 3.7 billion to EUR 508.2 billion. On Wednesday, 14 January 2015, a main refinancing operation of EUR 112.3 billion matured and a new one of EUR 114.0 billion, with a maturity of seven days, was settled.

During the week, EUR 14.2 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.7 billion (compared with virtually nil in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 65.6 billion (compared with EUR 73.7 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 1.8 billion to EUR 220.7 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 16 January 2015 Difference compared with 9 January 2015 – purchases Difference compared with 9 January 2015 – redemptions
Covered bond purchase programme 1 EUR 28.5 billion - EUR 0.4 billion
Covered bond purchase programme 2 EUR 12.7 billion - -
Covered bond purchase programme 3 EUR 33.1 billion EUR 1.8 billion -
Asset-backed securities purchase programme EUR 2.1 billion EUR 0.3 billion -
Securities Markets Programme EUR 144.3 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 19.0 billion, to EUR 223.3 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 343,867 0
2 Claims on non-euro area residents denominated in foreign currency 272,987 369
2.1 Receivables from the IMF 81,270 −193
2.2 Balances with banks and security investments, external loans and other external assets 191,717 562
3 Claims on euro area residents denominated in foreign currency 33,199 602
4 Claims on non-euro area residents denominated in euro 19,510 −867
4.1 Balances with banks, security investments and loans 19,510 −867
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 573,823 −11,823
5.1 Main refinancing operations 113,986 1,651
5.2 Longer-term refinancing operations 459,130 −14,155
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 707 705
5.6 Credits related to margin calls 0 −24
6 Other claims on euro area credit institutions denominated in euro 59,016 645
7 Securities of euro area residents denominated in euro 594,623 1,418
7.1 Securities held for monetary policy purposes 220,715 1,767
7.2 Other securities 373,908 −348
8 General government debt denominated in euro 26,715 0
9 Other assets 234,483 −945
Total assets 2,158,222 −10,600
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 1,001,438 −5,425
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 288,935 −27,161
2.1 Current accounts (covering the minimum reserve system) 223,319 −19,032
2.2 Deposit facility 65,571 −8,131
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 46 2
3 Other liabilities to euro area credit institutions denominated in euro 6,888 619
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 94,694 9,779
5.1 General government 64,869 7,928
5.2 Other liabilities 29,825 1,851
6 Liabilities to non-euro area residents denominated in euro 60,288 9,495
7 Liabilities to euro area residents denominated in foreign currency 1,671 −761
8 Liabilities to non-euro area residents denominated in foreign currency 6,456 1,424
8.1 Deposits, balances and other liabilities 6,456 1,424
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 56,374 0
10 Other liabilities 215,925 1,431
11 Revaluation accounts 330,898 0
12 Capital and reserves 94,655 0
Total liabilities 2,158,222 −10,600

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