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Consolidated financial statement of the Eurosystem as at 19 June 2015

23 June 2015

Items not related to monetary policy operations

In the week ending 19 June 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 0.9 billion to EUR 275 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
18 June 2015  7-day US dollar liquidity-providing reverse transaction USD 113 million USD 115 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 1 billion to EUR 373.7 billion. Banknotes in circulation (liability item 1) increased by EUR 1.9 billion to EUR 1,036.1 billion. Liabilities to general government (liability item 5.1) rose by EUR 37.6 billion to EUR 110.5 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 14.9 billion to EUR 403.9 billion. On Wednesday, 17 June 2015, a main refinancing operation (asset item 5.1) of EUR 90.4 billion matured and a new one of EUR 89.7 billion, with a maturity of seven days, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.4 billion (compared with EUR 0.1 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 81.4 billion (compared with EUR 96.7 billion in the previous week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 9 billion to EUR 451.2 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 19 June 2015 Difference compared with 12 June 2015 – purchases Difference compared with 12 June 2015 – redemptions
Covered bond purchase programme 1 EUR 23.7 billion - -EUR 1.1 billion
Covered bond purchase programme 2 EUR 10.9 billion - -EUR 0.2 billion
Covered bond purchase programme 3 EUR 92.1 billion +EUR 2.2 billion -
Asset-backed securities purchase programme EUR 8.3 billion +EUR 0.1 billion -
Public sector purchase programme EUR 182.3 billion +EUR 11.9 billion -
Securities Markets Programme EUR 134.0 billion - -EUR 4.1 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 14.3 billion to EUR 339.8 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 383,966 0
2 Claims on non-euro area residents denominated in foreign currency 304,194 377
  2.1 Receivables from the IMF 81,898 −427
  2.2 Balances with banks and security investments, external loans and other external assets 222,296 804
3 Claims on euro area residents denominated in foreign currency 40,300 −490
4 Claims on non-euro area residents denominated in euro 21,047 −1,038
  4.1 Balances with banks, security investments and loans 21,047 −1,038
  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 485,446 −374
  5.1 Main refinancing operations 89,658 −735
  5.2 Longer-term refinancing operations 395,367 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 421 362
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 136,906 3,749
7 Securities of euro area residents denominated in euro 824,883 8,011
  7.1 Securities held for monetary policy purposes 451,233 9,019
  7.2 Other securities 373,650 −1,008
8 General government debt denominated in euro 25,742 0
9 Other assets 229,463 −386
Total assets 2,451,947 9,850
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 1,036,078 1,934
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 421,283 −29,581
  2.1 Current accounts (covering the minimum reserve system) 339,758 −14,322
  2.2 Deposit facility 81,405 −15,266
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 120 8
3 Other liabilities to euro area credit institutions denominated in euro 5,527 −47
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 175,359 39,918
  5.1 General government 110,483 37,552
  5.2 Other liabilities 64,876 2,367
6 Liabilities to non-euro area residents denominated in euro 28,781 15
7 Liabilities to euro area residents denominated in foreign currency 2,287 −226
8 Liabilities to non-euro area residents denominated in foreign currency 6,575 −764
  8.1 Deposits, balances and other liabilities 6,575 −764
  8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 60,656 0
10 Other liabilities 213,572 −3,157
11 Revaluation accounts 403,298 0
12 Capital and reserves 98,531 1,758
Total liabilities 2,451,947 9,850
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