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Consolidated financial statement of the Eurosystem as at 20 March 2015

24 March 2015

Items not related to monetary policy operations

In the week ending 20 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) decreased by EUR 2.6 billion to EUR 247 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) remained virtually unchanged at EUR 374.6 billion. Banknotes in circulation (liability item 1) increased by EUR 0.1 billion to EUR 1,010.9 billion. Liabilities to general government (liability item 5.1) rose by EUR 11.4 billion to EUR 67.2 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 0.1 billion to EUR 420 billion. On Wednesday, 18 March 2015, a main refinancing operation of EUR 141.8 billion matured and a new one of EUR 142.4 billion, with a maturity of seven days, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (compared with EUR 0.5 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 45.7 billion (compared with EUR 45.2 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 19.5 billion to EUR 268.8 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 20 March 2015 Difference compared with 13 March 2015 – purchases Difference compared with 13 March 2015 – sales Difference compared with 13 March 2015 – redemptions
Covered bond purchase programme 1 EUR 26.1 billion - - -
Covered bond purchase programme 2 EUR 11.5 billion - EUR 0.1 billion EUR 0.3 billion
Covered bond purchase programme 3 EUR 60.0 billion EUR 3.1 billion - -
Asset-backed securities purchase programme EUR 4.0 billion EUR 0.3 billion - -
Public sector purchase programme EUR 26.3 billion EUR 16.6 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 6.9 billion to EUR 229.6 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 343,839 0
2 Claims on non-euro area residents denominated in foreign currency 279,314 −509
2.1 Receivables from the IMF 77,400 −3,400
2.2 Balances with banks and security investments, external loans and other external assets 201,913 2,891
3 Claims on euro area residents denominated in foreign currency 33,119 −1,973
4 Claims on non-euro area residents denominated in euro 24,901 562
4.1 Balances with banks, security investments and loans 24,901 562
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 465,609 316
5.1 Main refinancing operations 142,401 562
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 247 −235
5.6 Credits related to margin calls 0 −11
6 Other claims on euro area credit institutions denominated in euro 117,662 −2,956
7 Securities of euro area residents denominated in euro 643,424 19,416
7.1 Securities held for monetary policy purposes 268,838 19,460
7.2 Other securities 374,586 −45
8 General government debt denominated in euro 26,665 0
9 Other assets 223,309 868
Total assets 2,157,841 15,725
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 1,010,877 83
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 275,239 7,286
2.1 Current accounts (covering the minimum reserve system) 229,582 6,866
2.2 Deposit facility 45,653 416
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 4 4
3 Other liabilities to euro area credit institutions denominated in euro 5,207 19
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 118,130 16,643
5.1 General government 67,171 11,413
5.2 Other liabilities 50,958 5,230
6 Liabilities to non-euro area residents denominated in euro 47,865 −7,058
7 Liabilities to euro area residents denominated in foreign currency 2,060 239
8 Liabilities to non-euro area residents denominated in foreign currency 7,030 −171
8.1 Deposits, balances and other liabilities 7,030 −171
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 208,641 −1,316
11 Revaluation accounts 330,898 0
12 Capital and reserves 95,521 0
Total liabilities 2,157,841 15,725

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