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Consolidated financial statement of the Eurosystem as at 21 August 2015

25 August 2015

Items not related to monetary policy operations

In the week ending 21 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) increased by EUR 0.5 billion to EUR 262.8 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
20 August 2015  7-day US dollar liquidity-providing reverse transaction USD 132 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) decreased by EUR 0.9 billion to EUR 358.2 billion. Banknotes in circulation (liability item 1) decreased by EUR 4.3 billion to EUR 1,054.5 billion. Liabilities to general government (liability item 5.1) decreased by EUR 2.6 billion to EUR 50.1 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) decreased by EUR 15.7 billion to EUR 363.9 billion. On Wednesday, 19 August 2015, a main refinancing operation (asset item 5.1) of EUR 69.7 billion matured and a new one of EUR 69.6 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 0.8 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 169.1 billion (compared with EUR 154.2 billion in the previous week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 8 billion to EUR 560.8 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 21 August 2015 Difference compared with 14 August 2015 – purchases Difference compared with 14 August 2015 – redemptions
Covered bond purchase programme 1 EUR 22.5 billion - -
Covered bond purchase programme 2 EUR 10.6 billion - -EUR 0.2 billion
Covered bond purchase programme 3 EUR 109.2 billion +EUR 1.3 billion -EUR 0.2 billion
Asset-backed securities purchase programme EUR 11.2 billion +EUR 0.3 billion -
Public sector purchase programme EUR 279.8 billion +EUR 9.9 billion -
Securities Markets Programme EUR 127.6 billion - -EUR 3.0 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 4.6 billion to EUR 428.6 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 364,458 0
2 Claims on non-euro area residents denominated in foreign currency 292,265 2,035
  2.1 Receivables from the IMF 79,207 73
  2.2 Balances with banks and security investments, external loans and other external assets 213,058 1,962
3 Claims on euro area residents denominated in foreign currency 36,908 −2,226
4 Claims on non-euro area residents denominated in euro 19,436 −259
  4.1 Balances with banks, security investments and loans 19,436 −259
  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 533,190 −825
  5.1 Main refinancing operations 69,563 −111
  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 101 −714
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 129,959 −3,391
7 Securities of euro area residents denominated in euro 919,015 7,127
  7.1 Securities held for monetary policy purposes 560,849 8,032
  7.2 Other securities 358,166 −905
8 General government debt denominated in euro 25,177 0
9 Other assets 228,847 4,847
Total assets 2,549,254 7,307
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 1,054,526 −4,322
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 597,880 19,548
  2.1 Current accounts (covering the minimum reserve system) 428,592 4,629
  2.2 Deposit facility 169,139 14,913
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 149 6
3 Other liabilities to euro area credit institutions denominated in euro 5,189 −293
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 116,942 −4,973
  5.1 General government 50,147 −2,629
  5.2 Other liabilities 66,795 −2,344
6 Liabilities to non-euro area residents denominated in euro 34,961 −5,790
7 Liabilities to euro area residents denominated in foreign currency 2,353 −39
8 Liabilities to non-euro area residents denominated in foreign currency 4,548 −630
  8.1 Deposits, balances and other liabilities 4,548 −630
  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 207,583 3,806
11 Revaluation accounts 367,423 0
12 Capital and reserves 98,394 0
Total liabilities 2,549,254 7,307

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