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Consolidated financial statement of the Eurosystem as at 24 April 2015

28 April 2015

Items not related to monetary policy operations

In the week ending 24 April 2015 gold and gold receivables (asset item 1) decreased by EUR 1 million as a result of sales of gold by three Eurosystem central banks.

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 272.5 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 0.9 billion to EUR 377.7 billion. Banknotes in circulation (liability item 1) increased by EUR 0.2 billion to EUR 1,018.4 billion. Liabilities to general government (liability item 5.1) increased by EUR 34.2 billion to EUR 101.5 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 4 billion to EUR 427.1 billion. On Wednesday, 22 April 2015, a main refinancing operation of EUR 96.6 billion matured and a new one of EUR 95.7 billion, with a maturity of seven days, was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (unchanged in comparison with the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 86.2 billion (compared with EUR 90.6 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 14.8 billion to EUR 339.8 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 24 April 2015 Difference compared with 17 April 2015 – purchases Difference compared with 17 April 2015 – redemptions
Covered bond purchase programme 1 EUR 25.6 billion - -EUR 0.1 billion
Covered bond purchase programme 2 EUR 11.4 billion - -
Covered bond purchase programme 3 EUR 72.6 billion +EUR 3.0 billion -
Asset-backed securities purchase programme EUR 5.8 billion +EUR 0.2 billion -
Public sector purchase programme EUR 85.0 billion +EUR 11.7 billion -
Securities Markets Programme EUR 139.4 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 13.2 billion to EUR 269.4 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 383,965 −1
2 Claims on non-euro area residents denominated in foreign currency 303,600 593
  2.1 Receivables from the IMF 83,369 0
  2.2 Balances with banks and security investments, external loans and other external assets 220,231 593
3 Claims on euro area residents denominated in foreign currency 39,050 −304
4 Claims on non-euro area residents denominated in euro 20,345 −492
  4.1 Balances with banks, security investments and loans 20,345 −492
  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 513,326 −816
  5.1 Main refinancing operations 95,737 −822
  5.2 Longer-term refinancing operations 417,558 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 31 6
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 123,635 1,900
7 Securities of euro area residents denominated in euro 717,523 15,736
  7.1 Securities held for monetary policy purposes 339,786 14,828
  7.2 Other securities 377,737 908
8 General government debt denominated in euro 26,718 0
9 Other assets 232,629 111
Total assets 2,360,790 16,728
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 1,018,357 228
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 355,647 −17,960
  2.1 Current accounts (covering the minimum reserve system) 269,446 −13,191
  2.2 Deposit facility 86,168 −4,440
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 32 −329
3 Other liabilities to euro area credit institutions denominated in euro 5,488 −23
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 159,764 33,807
  5.1 General government 101,467 34,200
  5.2 Other liabilities 58,298 −392
6 Liabilities to non-euro area residents denominated in euro 36,500 −911
7 Liabilities to euro area residents denominated in foreign currency 1,845 −30
8 Liabilities to non-euro area residents denominated in foreign currency 7,658 105
  8.1 Deposits, balances and other liabilities 7,658 105
  8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 60,656 0
10 Other liabilities 215,492 1,439
11 Revaluation accounts 403,298 0
12 Capital and reserves 96,085 74
Total liabilities 2,360,790 16,728

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