Consolidated financial statement of the Eurosystem as at 27 February 2015

3 March 2015

Items not related to monetary policy operations

In the week ending 27 February 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 0.7 billion to EUR 246.4 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 1.2 billion to EUR 377.4 billion. Banknotes in circulation (liability item 1) increased by EUR 2.0 billion to EUR 1,007.0 billion. Liabilities to general government (liability item 5.1) decreased by EUR 18.1 billion to EUR 52.4 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) decreased by EUR 8.9 billion to EUR 451.6 billion. On Wednesday, 25 February 2015, a main refinancing operation of EUR 122.1 billion matured and a new one of EUR 165.4 billion, with a maturity of seven days, was settled.

During the week, EUR 8.9 billion of a longer-term refinancing operation was repaid before maturity. In addition, longer-term refinancing operations of EUR 101.4 billion matured and a new one of EUR 54.0 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.3 billion (compared with EUR 1.2 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 37.1 billion (compared with EUR 42.0 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 2.7 billion to EUR 234.2 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 27 February 2015 Difference compared with 20 February 2015 – purchases Difference compared with 20 February 2015 – redemptions
Covered bond purchase programme 1 EUR 26.6 billion - EUR 0.3 billion
Covered bond purchase programme 2 EUR 12.0 billion - -
Covered bond purchase programme 3 EUR 51.2 billion EUR 2.5 billion -
Asset-backed securities purchase programme EUR 3.5 billion EUR 0.5 billion -
Securities Markets Programme EUR 140.9 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 5.6 billion to EUR 235.0 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 278,539 2,874
2.1 Receivables from the IMF 79,400 −324
2.2 Balances with banks and security investments, external loans and other external assets 199,139 3,199
3 Claims on euro area residents denominated in foreign currency 33,043 −2,350
4 Claims on non-euro area residents denominated in euro 22,023 1,361
4.1 Balances with banks, security investments and loans 22,023 1,361
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 488,659 −13,889
5.1 Main refinancing operations 165,352 43,238
5.2 Longer-term refinancing operations 322,959 −56,264
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 326 −880
5.6 Credits related to margin calls 22 17
6 Other claims on euro area credit institutions denominated in euro 124,869 2,968
7 Securities of euro area residents denominated in euro 611,585 1,450
7.1 Securities held for monetary policy purposes 234,176 2,651
7.2 Other securities 377,409 −1,201
8 General government debt denominated in euro 26,665 0
9 Other assets 226,586 −4,373
Total assets 2,155,836 −11,958
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 1,006,962 1,962
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 272,032 659
2.1 Current accounts (covering the minimum reserve system) 234,965 5,618
2.2 Deposit facility 37,067 −4,917
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 0 −42
3 Other liabilities to euro area credit institutions denominated in euro 5,304 −14
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 97,374 −12,794
5.1 General government 52,387 −18,072
5.2 Other liabilities 44,987 5,278
6 Liabilities to non-euro area residents denominated in euro 62,479 −2,871
7 Liabilities to euro area residents denominated in foreign currency 2,197 252
8 Liabilities to non-euro area residents denominated in foreign currency 6,608 −412
8.1 Deposits, balances and other liabilities 6,608 −412
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 220,145 1,261
11 Revaluation accounts 330,898 0
12 Capital and reserves 95,464 0
Total liabilities 2,155,836 −11,958

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