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Consolidated financial statement of the Eurosystem as at 17 July 2015

21 July 2015

Items not related to monetary policy operations

In the week ending 17 July 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 at EUR 264 billion.

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
16 July 2015  7-day US dollar liquidity-providing reverse transaction USD 308 million USD 658 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) decreased by EUR 4.5 billion to EUR 361 billion. Banknotes in circulation (liability item 1) increased by EUR 1.9 billion to EUR 1,052.5 billion. Liabilities to general government (liability item 5.1) decreased by EUR 22.4 billion to EUR 74.4 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) increased by EUR 6.2 billion to EUR 424 billion. On Wednesday, 15 July 2015, a main refinancing operation (asset item 5.1) of EUR 74.5 billion matured and a new one of EUR 75.5 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 EUR 0.2 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 118.6 billion (compared with EUR 123.8 billion in the previous week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 13.3 billion to EUR 505.2 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 17 July 2015 Difference compared with 10 July 2015 – purchases Difference compared with 10 July 2015 – redemptions
Covered bond purchase programme 1 EUR 22.8 billion - -
Covered bond purchase programme 2 EUR 10.8 billion - -
Covered bond purchase programme 3 EUR 100.2 billion +EUR 1.9 billion -
Asset-backed securities purchase programme EUR 9.4 billion +EUR 0.1 billion -
Public sector purchase programme EUR 227.6 billion +EUR 11.2 billion -
Securities Markets Programme EUR 134.4 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 31 billion to EUR 414.4 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 364,458 0
2 Claims on non-euro area residents denominated in foreign currency 290,648 −1,500
  2.1 Receivables from the IMF 80,458 −46
  2.2 Balances with banks and security investments, external loans and other external assets 210,190 −1,454
3 Claims on euro area residents denominated in foreign currency 40,036 1,192
4 Claims on non-euro area residents denominated in euro 21,311 310
  4.1 Balances with banks, security investments and loans 21,311 310
  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 542,744 967
  5.1 Main refinancing operations 75,537 1,074
  5.2 Longer-term refinancing operations 467,096 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 112 −107
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 139,401 2,449
7 Securities of euro area residents denominated in euro 866,217 8,753
  7.1 Securities held for monetary policy purposes 505,178 13,264
  7.2 Other securities 361,039 −4,512
8 General government debt denominated in euro 25,643 0
9 Other assets 228,512 −1,394
Total assets 2,518,972 10,777
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 1,052,461 1,878
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 533,180 25,832
  2.1 Current accounts (covering the minimum reserve system) 414,430 31,026
  2.2 Deposit facility 118,588 −5,218
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 162 25
3 Other liabilities to euro area credit institutions denominated in euro 5,169 109
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 144,993 −20,005
  5.1 General government 74,409 −22,443
  5.2 Other liabilities 70,584 2,439
6 Liabilities to non-euro area residents denominated in euro 40,162 3,398
7 Liabilities to euro area residents denominated in foreign currency 2,308 17
8 Liabilities to non-euro area residents denominated in foreign currency 4,938 −264
  8.1 Deposits, balances and other liabilities 4,938 −264
  8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 59,456 0
10 Other liabilities 210,490 −188
11 Revaluation accounts 367,423 0
12 Capital and reserves 98,393 0
Total liabilities 2,518,972 10,777

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