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Consolidated financial statement of the Eurosystem as at 15 August 2014

19 August 2014

Items not related to monetary policy operations

In the week ending 15 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 213.1 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
14 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 1.7 billion to EUR 361.9 billion. Banknotes in circulation (liability item 1) increased by EUR 2.2 billion to EUR 975.6 billion. Liabilities to general government (liability item 5.1) decreased by EUR 8.9 billion to EUR 57.7 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 2.4 billion to EUR 481.1 billion. On Wednesday, 13 August 2014, a main refinancing operation of EUR 107.9 billion matured and a new one of EUR 108.2 billion, with a maturity of one week, was settled.

During the week, EUR 4.2 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 19.8 billion (compared with EUR 21.1 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 15 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) increased by EUR 7.1 billion to EUR 221.6 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 334,432 0
2 Claims on non-euro area residents denominated in foreign currency 249,072 −330
2.1 Receivables from the IMF 80,822 −308
2.2 Balances with banks and security investments, external loans and other external assets 168,251 −22
3 Claims on euro area residents denominated in foreign currency 24,540 18
4 Claims on non-euro area residents denominated in euro 19,250 345
4.1 Balances with banks, security investments and loans 19,250 345
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 501,031 −3,881
5.1 Main refinancing operations 108,203 281
5.2 Longer-term refinancing operations 392,824 −4,150
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 4 −13
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 66,759 633
7 Securities of euro area residents denominated in euro 560,880 1,749
7.1 Securities held for monetary policy purposes 199,011 0
7.2 Other securities 361,869 1,749
8 General government debt denominated in euro 26,709 0
9 Other assets 240,501 −618
Total assets 2,023,176 −2,083
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 975,642 2,237
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 241,501 5,630
2.1 Current accounts (covering the minimum reserve system) 221,620 7,145
2.2 Deposit facility 19,849 −1,297
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 33 −218
3 Other liabilities to euro area credit institutions denominated in euro 4,804 −208
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 86,283 −10,449
5.1 General government 57,675 −8,899
5.2 Other liabilities 28,608 −1,550
6 Liabilities to non-euro area residents denominated in euro 43,768 −3
7 Liabilities to euro area residents denominated in foreign currency 1,012 −3
8 Liabilities to non-euro area residents denominated in foreign currency 6,121 −159
8.1 Deposits, balances and other liabilities 6,121 −159
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 213,948 871
11 Revaluation accounts 301,418 0
12 Capital and reserves 95,311 0
Total liabilities 2,023,176 −2,083
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