Consolidated financial statement of the Eurosystem as at 26 June 2015

30 June 2015

Items not related to monetary policy operations

In the week ending 26 June 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 1 billion to EUR 276 billion, on account of customer and portfolio transactions and US dollar liquidity-providing operations (see below).

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
25 June 2015  7-day US dollar liquidity-providing reverse transaction USD 115 million USD 115 million

The liquidity-providing transactions were conducted by the Eurosystem 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 0.4 billion to EUR 374.1 billion. Banknotes in circulation (liability item 1) rose by EUR 2.9 billion to EUR 1,039 billion. Liabilities to general government (liability item 5.1) increased by EUR 27.1 billion to EUR 137.6 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 65.3 billion to EUR 469.2 billion. On Wednesday, 24 June 2015, a main refinancing operation (asset item 5.1) of EUR 89.7 billion matured and a new one of EUR 88.2 billion, with a maturity of seven days, was settled.

During the week, a longer-term refinancing operation of EUR 19.3 billion matured and a new one of EUR 17.3 billion was settled. In addition, a targeted longer-term refinancing operation (TLTRO) of EUR 73.8 billion, with a maturity of 1,190 days, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.3 billion (compared with EUR 0.4 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 86.3 billion (compared with EUR 81.4 billion in the previous week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 13.9 billion to EUR 465.1 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 26 June 2015 Difference compared with 19 June 2015 – purchases Difference compared with 19 June 2015 – redemptions
Covered bond purchase programme 1 EUR  23.2 billion - -EUR 0.4 billion
Covered bond purchase programme 2 EUR  10.8 billion - -EUR 0.1 billion
Covered bond purchase programme 3 EUR  94.6 billion +EUR 2.5 billion -
Asset-backed securities purchase programme EUR  8.6 billion +EUR 0.3 billion -
Public sector purchase programme EUR 193.9 billion +EUR 11.6 billion -
Securities Markets Programme EUR  134.0 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 49.6 billion to EUR 389.3 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 306,656 2,462
  2.1 Receivables from the IMF 82,171 273
  2.2 Balances with banks and security investments, external loans and other external assets 224,485 2,188
3 Claims on euro area residents denominated in foreign currency 38,676 −1,623
4 Claims on non-euro area residents denominated in euro 21,812 765
  4.1 Balances with banks, security investments and loans 21,812 765
  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 555,596 70,150
  5.1 Main refinancing operations 88,234 −1,424
  5.2 Longer-term refinancing operations 467,096 71,728
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 267 −154
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 134,698 −2,208
7 Securities of euro area residents denominated in euro 839,235 14,352
  7.1 Securities held for monetary policy purposes 465,142 13,908
  7.2 Other securities 374,094 444
8 General government debt denominated in euro 25,742 0
9 Other assets 233,162 3,698
Total assets 2,539,544 87,596
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 1,038,969 2,891
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 475,740 54,456
  2.1 Current accounts (covering the minimum reserve system) 389,322 49,564
  2.2 Deposit facility 86,293 4,888
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 125 5
3 Other liabilities to euro area credit institutions denominated in euro 5,164 −363
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 204,009 28,650
  5.1 General government 137,594 27,111
  5.2 Other liabilities 66,415 1,539
6 Liabilities to non-euro area residents denominated in euro 29,648 867
7 Liabilities to euro area residents denominated in foreign currency 2,284 −3
8 Liabilities to non-euro area residents denominated in foreign currency 6,391 −184
  8.1 Deposits, balances and other liabilities 6,391 −184
  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 214,992 1,420
11 Revaluation accounts 403,298 0
12 Capital and reserves 98,392 −139
Total liabilities 2,539,544 87,596

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