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Consolidated financial statement of the Eurosystem as at 27 March 2015

31 March 2015

Items not related to monetary policy operations

In the week ending 27 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 0.2 billion to EUR 247.2 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) increased by EUR 1 billion to EUR 375.6 billion. Banknotes in circulation (liability item 1) increased by EUR 2.1 billion to EUR 1,012.9 billion. Liabilities to general government (liability item 5.1) rose by EUR 14.2 billion to EUR 81.3 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 54.7 billion to EUR 474.7 billion. On Wednesday, 25 March 2015, a main refinancing operation of EUR 142.4 billion matured and a new one of EUR 120.5 billion, with a maturity of seven days, was settled.

During the week, a longer-term refinancing operation of EUR 22.3 billion matured and a new one of EUR 19.3 billion was settled. In addition, a targeted longer-term refinancing operation (TLTRO) of EUR 97.8 billion, with a maturity of 1,281 days, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (virtually unchanged compared with the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 63.6 billion (compared with EUR 45.7 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 18.2 billion to EUR 287 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 March 2015 Difference compared with 20 March 2015 – purchases Difference compared with 20 March 2015 – redemptions
Covered bond purchase programme 1 EUR 26.1 billion - -
Covered bond purchase programme 2 EUR 11.5 billion - -
Covered bond purchase programme 3 EUR 62.9 billion EUR 2.9 billion -
Asset-backed securities purchase programme EUR 4.6 billion EUR 0.6 billion -
Public sector purchase programme EUR 41.0 billion EUR 14.7 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 63.4 billion to EUR 293 billion.

Banc Ceannais Eorpach
Stiúrthóireacht Cumarsáide, Rannóg Preasa agus Faisnéise
Sonnemannstrasse 20, D-60314 Frankfurt am Main
Teil.: +49 69 1344 7455, Facs: +49 69 1344 7404
Idirlíon: http://www.ecb.europa.eu

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