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Consolidated financial statement of the Eurosystem as at 21 November 2014

25 November 2014

Items not related to monetary policy operations

In the week ending 21 November 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) increased by EUR 1.2 billion to EUR 229 billion on account of customer and portfolio transactions.

In the past week the Eurosystem has not conducted any liquidity-providing transactions 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 0.5 billion to EUR 364.5 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.8 billion to EUR 975.1 billion. Liabilities to general government (liability item 5.1) increased by EUR 17.2 billion to EUR 84.7 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) increased by EUR 5.8 billion to EUR 476.9 billion. On Wednesday, 19 November 2014, a main refinancing operation of EUR 98.4 billion matured and a new one of EUR 102.6 billion, with a maturity of one week, was settled.

During the week, EUR 1.9 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.1 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 22 billion (compared with EUR 25.6 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 0.9 billion to EUR 199 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 November 2014 Difference compared with last week - Purchases Difference compared with last week - Redemptions
Covered bond purchase programme 1 EUR 29.4 billion - EUR 0.5 billion
Covered bond purchase programme 2 EUR 13.0 billion - EUR 0.1 billion
Covered bond purchase programme 3 EUR 12.7 billion EUR 2.2 billion -
Securities Markets Programme EUR 143.9 billion - EUR 0.7 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 11.5 billion to EUR 175.5 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 334,532 0
2 Claims on non-euro area residents denominated in foreign currency 264,449 1,290
2.1 Receivables from the IMF 83,603 −203
2.2 Balances with banks and security investments, external loans and other external assets 180,846 1,493
3 Claims on euro area residents denominated in foreign currency 28,064 44
4 Claims on non-euro area residents denominated in euro 19,702 −2,907
4.1 Balances with banks, security investments and loans 19,702 −2,907
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 498,964 2,243
5.1 Main refinancing operations 102,587 4,167
5.2 Longer-term refinancing operations 396,240 −1,950
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 3 −107
5.6 Credits related to margin calls 133 133
6 Other claims on euro area credit institutions denominated in euro 60,956 4,913
7 Securities of euro area residents denominated in euro 563,441 404
7.1 Securities held for monetary policy purposes 198,964 916
7.2 Other securities 364,477 −512
8 General government debt denominated in euro 26,727 0
9 Other assets 236,330 −978
Total assets 2,033,165 5,008
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 975,135 −1,767
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 197,579 −15,109
2.1 Current accounts (covering the minimum reserve system) 175,536 −11,505
2.2 Deposit facility 22,023 −3,604
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 19 0
3 Other liabilities to euro area credit institutions denominated in euro 4,751 230
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 120,757 17,391
5.1 General government 84,684 17,212
5.2 Other liabilities 36,072 179
6 Liabilities to non-euro area residents denominated in euro 41,140 1,481
7 Liabilities to euro area residents denominated in foreign currency 1,119 4
8 Liabilities to non-euro area residents denominated in foreign currency 6,850 169
8.1 Deposits, balances and other liabilities 6,850 169
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 55,494 0
10 Other liabilities 219,491 2,611
11 Revaluation accounts 315,537 0
12 Capital and reserves 95,313 0
Total liabilities 2,033,165 5,008
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