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Consolidated financial statement of the Eurosystem as at 6 March 2015

10 March 2015

Items not related to monetary policy operations

In the week ending 6 March 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 1.2 billion to EUR 247.6 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 0.7 billion to EUR 376.7 billion. Banknotes in circulation (liability item 1) increased by EUR 2.8 billion to EUR 1,009.7 billion. Liabilities to general government (liability item 5.1) increased by EUR 3.8 billion to EUR 56.2 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 28.2 billion to EUR 423.4 billion. On Wednesday, 4 March 2015, a main refinancing operation of EUR 165.4 billion matured and a new one of EUR 147.8 billion, with a maturity of seven days, was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.3 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 47.5 billion (compared with EUR 37.1 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 3.0 billion to EUR 237.1 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 6 March 2015 Difference compared with 27 February 2015 – purchases Difference compared with 27 February 2015 – redemptions
Covered bond purchase programme 1 EUR 26.5 billion - EUR 0.1 billion
Covered bond purchase programme 2 EUR 11.9 billion - EUR 0.1 billion
Covered bond purchase programme 3 EUR 54.2 billion EUR 3.0 billion -
Asset-backed securities purchase programme EUR 3.6 billion EUR 0.2 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) decreased by EUR 28.4 billion to EUR 206.6 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 277,351 −1,188
2.1 Receivables from the IMF 79,477 77
2.2 Balances with banks and security investments, external loans and other external assets 197,874 −1,265
3 Claims on euro area residents denominated in foreign currency 35,092 2,049
4 Claims on non-euro area residents denominated in euro 22,872 849
4.1 Balances with banks, security investments and loans 22,872 849
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 470,860 −17,798
5.1 Main refinancing operations 147,853 −17,499
5.2 Longer-term refinancing operations 322,959 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 42 −284
5.6 Credits related to margin calls 6 −16
6 Other claims on euro area credit institutions denominated in euro 121,414 −3,455
7 Securities of euro area residents denominated in euro 613,881 2,296
7.1 Securities held for monetary policy purposes 237,136 2,960
7.2 Other securities 376,745 −664
8 General government debt denominated in euro 26,665 0
9 Other assets 222,816 −3,770
Total assets 2,134,819 −21,018
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 1,009,730 2,768
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 254,023 −18,009
2.1 Current accounts (covering the minimum reserve system) 206,561 −28,404
2.2 Deposit facility 47,462 10,395
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 5,287 −17
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 101,497 4,123
5.1 General government 56,237 3,849
5.2 Other liabilities 45,261 274
6 Liabilities to non-euro area residents denominated in euro 57,500 −4,979
7 Liabilities to euro area residents denominated in foreign currency 2,066 −131
8 Liabilities to non-euro area residents denominated in foreign currency 6,353 −254
8.1 Deposits, balances and other liabilities 6,353 −254
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 215,617 −4,527
11 Revaluation accounts 330,898 0
12 Capital and reserves 95,473 9
Total liabilities 2,134,819 −21,018

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