Consolidated financial statement of the Eurosystem as at 1 May 2015

5 May 2015

Items not related to monetary policy operations

In the week ending 1 May 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 0.4 billion to EUR 272.9 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 3.7 billion to EUR 374.1 billion. Banknotes in circulation (liability item 1) increased by EUR 8.2 billion to EUR 1,026.6 billion. Liabilities to general government (liability item 5.1) decreased by EUR 51.2 billion to EUR 50.3 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) decreased by EUR 17.4 billion to EUR 409.7 billion. On Wednesday, 29 April 2015, a main refinancing operation of EUR 95.7 billion matured and a new one of EUR 108.5 billion, with a maturity of seven days, was settled.

During the week, a longer-term refinancing operation of EUR 34.1 billion matured and a new one of EUR 25.3 billion 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 107.6 billion (compared with EUR 86.2 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 11.1 billion to EUR 350.8 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 1 May 2015 Difference compared with 24 April 2015 – purchases Difference compared with 24 April 2015 – redemptions
Covered bond purchase programme 1 EUR 25.5 billion - -EUR 0.2 billion
Covered bond purchase programme 2 EUR 11.4 billion - -
Covered bond purchase programme 3 EUR 75.1 billion +EUR 2.5 billion -
Asset-backed securities purchase programme EUR 5.8 billion - -
Public sector purchase programme EUR 95.1 billion +EUR 10.0 billion -
Securities Markets Programme EUR 138.1 billion - -EUR 1.3 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 30.8 billion to EUR 300.2 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 0
2 Claims on non-euro area residents denominated in foreign currency 304,503 904
  2.1 Receivables from the IMF 83,367 −1
  2.2 Balances with banks and security investments, external loans and other external assets 221,136 905
3 Claims on euro area residents denominated in foreign currency 38,390 −660
4 Claims on non-euro area residents denominated in euro 20,739 394
  4.1 Balances with banks, security investments and loans 20,739 394
  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 517,274 3,948
  5.1 Main refinancing operations 108,485 12,748
  5.2 Longer-term refinancing operations 408,748 −8,810
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 41 9
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 127,108 3,473
7 Securities of euro area residents denominated in euro 724,906 7,383
  7.1 Securities held for monetary policy purposes 350,843 11,058
  7.2 Other securities 374,062 −3,675
8 General government debt denominated in euro 25,748 −970
9 Other assets 229,921 −2,708
Total assets 2,372,553 11,763
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 1,026,554 8,197
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 407,792 52,146
  2.1 Current accounts (covering the minimum reserve system) 300,236 30,790
  2.2 Deposit facility 107,555 21,387
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 2 −30
3 Other liabilities to euro area credit institutions denominated in euro 5,429 −59
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 112,728 −47,036
  5.1 General government 50,285 −51,182
  5.2 Other liabilities 62,443 4,146
6 Liabilities to non-euro area residents denominated in euro 34,670 −1,830
7 Liabilities to euro area residents denominated in foreign currency 2,253 408
8 Liabilities to non-euro area residents denominated in foreign currency 7,118 −539
  8.1 Deposits, balances and other liabilities 7,118 −539
  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 215,956 464
11 Revaluation accounts 403,298 0
12 Capital and reserves 96,098 13
Total liabilities 2,372,553 11,763

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