Consolidated financial statement of the Eurosystem as at 8 May 2015

12 May 2015

Items not related to monetary policy operations

In the week ending 8 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) decreased by EUR 1.5 billion to EUR 271.3 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 375.1 billion. Banknotes in circulation (liability item 1) rose by EUR 0.8 billion to EUR 1,027.3 billion. Liabilities to general government (liability item 5.1) increased by EUR 4.1 billion to EUR 54.4 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 14.2 billion to EUR 395.5 billion. On Wednesday, 6 May 2015, a main refinancing operation (asset item 5.1) of EUR 108.5 billion matured and a new one of EUR 95.2 billion, with a maturity of seven days, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with virtually nil in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 108.5 billion (compared with EUR 107.6 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 16.4 billion to EUR 367.2 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 8 May 2015 Difference compared with 1 May 2015 – purchases Difference compared with 1 May 2015 – redemptions
Covered bond purchase programme 1 EUR 25.3 billion - -EUR 0.2 billion
Covered bond purchase programme 2 EUR 11.3 billion - -EUR 0.1 billion
Covered bond purchase programme 3 EUR 78.0 billion +EUR 2.9 billion -
Asset-backed securities purchase programme EUR 5.8 billion - -
Public sector purchase programme EUR 108.7 billion +EUR 13.6 billion -
Securities Markets Programme EUR 138.1 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 1.2 billion to EUR 299 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 383,966 0
2 Claims on non-euro area residents denominated in foreign currency 302,846 −1,658
  2.1 Receivables from the IMF 83,059 −309
  2.2 Balances with banks and security investments, external loans and other external assets 219,787 −1,349
3 Claims on euro area residents denominated in foreign currency 39,470 1,080
4 Claims on non-euro area residents denominated in euro 21,126 387
  4.1 Balances with banks, security investments and loans 21,126 387
  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 504,035 −13,239
  5.1 Main refinancing operations 95,233 −13,252
  5.2 Longer-term refinancing operations 408,748 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 54 13
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 128,556 1,449
7 Securities of euro area residents denominated in euro 742,287 17,381
  7.1 Securities held for monetary policy purposes 367,221 16,378
  7.2 Other securities 375,066 1,004
8 General government debt denominated in euro 25,748 0
9 Other assets 229,820 −101
Total assets 2,377,854 5,300
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 1,027,319 764
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 407,502 −290
  2.1 Current accounts (covering the minimum reserve system) 299,023 −1,213
  2.2 Deposit facility 108,480 925
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 0 −2
3 Other liabilities to euro area credit institutions denominated in euro 5,489 60
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 116,366 3,638
  5.1 General government 54,351 4,066
  5.2 Other liabilities 62,015 −429
6 Liabilities to non-euro area residents denominated in euro 33,832 −838
7 Liabilities to euro area residents denominated in foreign currency 2,249 −4
8 Liabilities to non-euro area residents denominated in foreign currency 8,087 969
  8.1 Deposits, balances and other liabilities 8,087 969
  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 216,958 1,002
11 Revaluation accounts 403,298 0
12 Capital and reserves 96,098 0
Total liabilities 2,377,854 5,300

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