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Consolidated financial statement of the Eurosystem as at 14 August 2015

18 August 2015

Items not related to monetary policy operations

In the week ending 14 August 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 0.5 billion to EUR 262.3 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
13 August 2015  7-day US dollar liquidity-providing reverse transaction USD 228 million USD 132 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 0.8 billion to EUR 359.1 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.5 billion to EUR 1,058.8 billion. Liabilities to general government (liability item 5.1) increased by EUR 13.7 billion to EUR 52.8 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 17.2 billion to EUR 379.6 billion. On Wednesday, 12 August 2015, a main refinancing operation (asset item 5.1) of EUR 71 billion matured and a new one of EUR 69.7 billion, with a maturity of seven days, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.8 billion (compared with EUR 0.2 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 154.2 billion (compared with EUR 137.7 billion in the previous week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 11.9 billion to EUR 552.8 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 14 August 2015 Difference compared with 7 August 2015 – purchases Difference compared with 7 August 2015 – redemptions
Covered bond purchase programme 1 EUR 22.5 billion - -
Covered bond purchase programme 2 EUR 10.8 billion - -
Covered bond purchase programme 3 EUR 108.1 billion +EUR 1.4 billion -
Asset-backed securities purchase programme EUR 11.0 billion +EUR 0.3 billion -
Public sector purchase programme EUR 269.9 billion +EUR 10.2 billion -
Securities Markets Programme EUR 130.6 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 19.9 billion to EUR 424 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 290,230 −100
  2.1 Receivables from the IMF 79,134 2
  2.2 Balances with banks and security investments, external loans and other external assets 211,096 −102
3 Claims on euro area residents denominated in foreign currency 39,134 −762
4 Claims on non-euro area residents denominated in euro 19,695 −267
  4.1 Balances with banks, security investments and loans 19,695 −267
  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 534,015 −721
  5.1 Main refinancing operations 69,674 −1,332
  5.2 Longer-term refinancing operations 463,525 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 816 611
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 133,350 −4,388
7 Securities of euro area residents denominated in euro 911,888 12,697
  7.1 Securities held for monetary policy purposes 552,817 11,923
  7.2 Other securities 359,071 774
8 General government debt denominated in euro 25,177 4
9 Other assets 224,000 −1,150
Total assets 2,541,947 5,313
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 1,058,848 −526
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 578,332 −3,434
  2.1 Current accounts (covering the minimum reserve system) 423,963 −19,938
  2.2 Deposit facility 154,226 16,501
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 142 3
3 Other liabilities to euro area credit institutions denominated in euro 5,482 259
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 121,915 16,239
  5.1 General government 52,775 13,696
  5.2 Other liabilities 69,139 2,543
6 Liabilities to non-euro area residents denominated in euro 40,751 −650
7 Liabilities to euro area residents denominated in foreign currency 2,392 −300
8 Liabilities to non-euro area residents denominated in foreign currency 5,177 −106
  8.1 Deposits, balances and other liabilities 5,177 −106
  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 203,777 −6,169
11 Revaluation accounts 367,423 0
12 Capital and reserves 98,394 0
Total liabilities 2,541,947 5,313

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