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Consolidated financial statement of the Eurosystem as at 22 May 2015

26 May 2015

Items not related to monetary policy operations

In the week ending 22 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) remained virtually unchanged and amounted to EUR 271.2 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) decreased by EUR 0.1 billion to EUR 373.8 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.3 billion to EUR 1,027.6 billion. Liabilities to general government (liability item 5.1) rose by EUR 22 billion to EUR 92.1 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 5.8 billion to EUR 404.2 billion. On Wednesday, 20 May 2015, a main refinancing operation (asset item 5.1) of EUR 90.6 billion matured and a new one of EUR 88.4 billion, with a maturity of seven days, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (unchanged from the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 93.0 billion (compared with EUR 101.1 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 billion to EUR 398 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 22 May 2015 Difference compared with 15 May 2015 – purchases Difference compared with 15 May 2015 – redemptions
Covered bond purchase programme 1 EUR 25.3 billion - -
Covered bond purchase programme 2 EUR 11.3 billion - -
Covered bond purchase programme 3 EUR 82.8 billion +EUR 2.0 billion -
Asset-backed securities purchase programme EUR 6.2 billion +EUR 0.1 billion -
Public sector purchase programme EUR 134.2 billion +EUR 11.8 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 2.7 billion to EUR 303.6 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 383,965 0
2 Claims on non-euro area residents denominated in foreign currency 302,385 861
  2.1 Receivables from the IMF 82,292 −7
  2.2 Balances with banks and security investments, external loans and other external assets 220,093 868
3 Claims on euro area residents denominated in foreign currency 38,884 −606
4 Claims on non-euro area residents denominated in euro 21,033 −181
  4.1 Balances with banks, security investments and loans 21,033 −181
  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 497,228 −2,222
  5.1 Main refinancing operations 88,398 −2,225
  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 82 3
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 131,502 1,248
7 Securities of euro area residents denominated in euro 771,725 13,865
  7.1 Securities held for monetary policy purposes 397,968 13,965
  7.2 Other securities 373,757 −100
8 General government debt denominated in euro 25,748 0
9 Other assets 230,083 961
Total assets 2,402,553 13,925
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 1,027,646 −1,279
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 396,593 −10,734
  2.1 Current accounts (covering the minimum reserve system) 303,607 −2,669
  2.2 Deposit facility 92,984 −8,066
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 2 1
3 Other liabilities to euro area credit institutions denominated in euro 5,522 24
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 157,041 24,523
  5.1 General government 92,076 22,046
  5.2 Other liabilities 64,965 2,477
6 Liabilities to non-euro area residents denominated in euro 28,291 147
7 Liabilities to euro area residents denominated in foreign currency 2,436 356
8 Liabilities to non-euro area residents denominated in foreign currency 6,980 −112
  8.1 Deposits, balances and other liabilities 6,980 −112
  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 218,096 1,138
11 Revaluation accounts 403,298 0
12 Capital and reserves 95,994 −137
Total liabilities 2,402,553 13,925

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