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Consolidated financial statement of the Eurosystem as at 8 August 2014

12 August 2014

Items not related to monetary policy operations

In the week ending 8 August 2014 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 0.1 billion to EUR 213.3 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
7 August 2014 7-day US dollar liquidity-providing reverse transaction USD 75 million USD 75 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 2.3 billion to EUR 360.1 billion. Banknotes in circulation (liability item 1) increased by EUR 2 billion to EUR 973.4 billion. Liabilities to general government (liability item 5.1) decreased by EUR 4.3 billion to EUR 66.6 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) decreased by EUR 5.9 billion to EUR 483.5 billion. On Wednesday, 6 August 2014, a main refinancing operation of EUR 133.3 billion matured and a new one of EUR 107.9 billion, with a maturity of one week, was settled.

During the week, EUR 3.2 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (as it was in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 21.1 billion (compared with EUR 44.1 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) remained unchanged at EUR 199 billion. Therefore, in the week ending 8 August 2014, the value of accumulated purchases under the Securities Markets Programme amounted to EUR 152.3 billion, while the value of the portfolios held under the first and second covered bond purchase programmes totalled EUR 32.9 billion and EUR 13.8 billion respectively. All three portfolios are accounted for on a held-to-maturity basis.

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 5.2 billion to EUR 214.5 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 334,432 0
2 Claims on non-euro area residents denominated in foreign currency 249,403 941
2.1 Receivables from the IMF 81,130 −525
2.2 Balances with banks and security investments, external loans and other external assets 168,273 1,466
3 Claims on euro area residents denominated in foreign currency 24,521 −375
4 Claims on non-euro area residents denominated in euro 18,905 380
4.1 Balances with banks, security investments and loans 18,905 380
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 504,912 −28,623
5.1 Main refinancing operations 107,922 −25,382
5.2 Longer-term refinancing operations 396,974 −3,210
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 17 −28
5.6 Credits related to margin calls 0 −2
6 Other claims on euro area credit institutions denominated in euro 66,126 −8,074
7 Securities of euro area residents denominated in euro 559,131 2,322
7.1 Securities held for monetary policy purposes 199,011 0
7.2 Other securities 360,120 2,322
8 General government debt denominated in euro 26,709 4
9 Other assets 241,119 −999
Total assets 2,025,258 −34,425
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 973,405 1,982
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 235,871 −27,987
2.1 Current accounts (covering the minimum reserve system) 214,475 −5,241
2.2 Deposit facility 21,146 −22,972
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 251 226
3 Other liabilities to euro area credit institutions denominated in euro 5,012 194
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 96,732 −9,035
5.1 General government 66,574 −4,305
5.2 Other liabilities 30,158 −4,730
6 Liabilities to non-euro area residents denominated in euro 43,771 −464
7 Liabilities to euro area residents denominated in foreign currency 1,015 −255
8 Liabilities to non-euro area residents denominated in foreign currency 6,280 881
8.1 Deposits, balances and other liabilities 6,280 881
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 53,368 0
10 Other liabilities 213,077 259
11 Revaluation accounts 301,418 0
12 Capital and reserves 95,311 0
Total liabilities 2,025,258 −34,425
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