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Consolidated financial statement of the Eurosystem as at 29 May 2015

2 June 2015

Items not related to monetary policy operations

In the week ending 29 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 0.3 billion to EUR 271.5 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) decreased by EUR 0.3 billion to EUR 373.4 billion. Banknotes in circulation (liability item 1) increased by EUR 4.4 billion to EUR 1,032 billion. Liabilities to general government (liability item 5.1) decreased by EUR 9.3 billion to EUR 82.8 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 7.6 billion to EUR 396.6 billion. On Wednesday, 27 May 2015, a main refinancing operation (asset item 5.1) of EUR 88.4 billion matured and a new one of EUR 100.1 billion, with a maturity of seven days, was settled.

During the week, a longer-term refinancing operation (asset item 5.2) of EUR 54 billion matured and a new one of EUR 40.5 billion 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 98.9 billion (compared with EUR 93 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 15.5 billion to EUR 413.5 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 29 May 2015 Difference compared with 22 May 2015 – purchases Difference compared with 22 May 2015 – redemptions
Covered bond purchase programme 1 EUR 25.1 billion - -EUR 0.2 billion
Covered bond purchase programme 2 EUR 11.3 billion - -
Covered bond purchase programme 3 EUR 85.1 billion +EUR 2.3 billion -
Asset-backed securities purchase programme EUR 7.2 billion +EUR 1.0 billion -
Public sector purchase programme EUR 146.7 billion +EUR 12.4 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) increased by EUR 12.6 billion to EUR 316.2 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 383,966 0
2 Claims on non-euro area residents denominated in foreign currency 302,695 310
  2.1 Receivables from the IMF 82,292 0
  2.2 Balances with banks and security investments, external loans and other external assets 220,403 310
3 Claims on euro area residents denominated in foreign currency 39,582 698
4 Claims on non-euro area residents denominated in euro 21,657 624
  4.1 Balances with banks, security investments and loans 21,657 624
  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 495,548 −1,680
  5.1 Main refinancing operations 100,104 11,706
  5.2 Longer-term refinancing operations 395,367 −13,381
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 77 −5
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 131,583 81
7 Securities of euro area residents denominated in euro 786,953 15,228
  7.1 Securities held for monetary policy purposes 413,509 15,541
  7.2 Other securities 373,444 −313
8 General government debt denominated in euro 25,742 −6
9 Other assets 228,938 −1,145
Total assets 2,416,664 14,111
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 1,032,017 4,371
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 415,123 18,530
  2.1 Current accounts (covering the minimum reserve system) 316,216 12,609
  2.2 Deposit facility 98,901 5,917
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 6 4
3 Other liabilities to euro area credit institutions denominated in euro 5,240 −282
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 147,389 −9,652
  5.1 General government 82,752 −9,324
  5.2 Other liabilities 64,637 −328
6 Liabilities to non-euro area residents denominated in euro 28,652 361
7 Liabilities to euro area residents denominated in foreign currency 2,327 −109
8 Liabilities to non-euro area residents denominated in foreign currency 7,835 855
  8.1 Deposits, balances and other liabilities 7,835 855
  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 218,105 9
11 Revaluation accounts 403,298 0
12 Capital and reserves 96,022 28
Total liabilities 2,416,664 14,111
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