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Consolidated financial statement of the Eurosystem as at 6 December 2013

10 December 2013

Items not related to monetary policy operations

In the week ending 6 December 2013 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 0.3 billion to EUR 207.1 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
5 December 2013 84-day US dollar liquidity-providing reverse transaction USD 28 million USD 28 million

The liquidity-providing transactions were conducted by the Eurosystem in connection with the temporary reciprocal currency arrangement (swap line) 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 0.7 billion to EUR 350 billion. Banknotes in circulation (liability item 1) increased by EUR 7.6 billion to EUR 935.1 billion. Liabilities to general government (liability item 5.1) decreased by EUR 19.2 billion to EUR 77.3 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 34.1 billion to EUR 470.8 billion. On Wednesday, 4 December 2013, a main refinancing operation of EUR 97.2 billion matured and a new one of EUR 94.6 billion, with a maturity of one week, was settled. On the same day, fixed-term deposits in an amount of EUR 157.8 billion matured and new deposits were collected in an amount of EUR 184 billion, with a maturity of one week.

During the week EUR 7.2 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (compared with EUR 0.1 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 54.1 billion (compared with EUR 56.1 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) remained virtually unchanged at EUR 241.4 billion. Therefore, in the week ending 6 December 2013 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 184.1 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 41.9 billion and EUR 15.4 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 11.8 billion to EUR 203.7 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 343,920 0
2 Claims on non-euro area residents denominated in foreign currency 244,585 258
2.1 Receivables from the IMF 82,521 −1
2.2 Balances with banks and security investments, external loans and other external assets 162,064 259
3 Claims on euro area residents denominated in foreign currency 23,602 238
4 Claims on non-euro area residents denominated in euro 20,374 1,032
4.1 Balances with banks, security investments and loans 20,374 1,032
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 709,297 −9,736
5.1 Main refinancing operations 94,625 −2,584
5.2 Longer-term refinancing operations 614,514 −7,235
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 158 84
5.6 Credits related to margin calls 1 0
6 Other claims on euro area credit institutions denominated in euro 75,888 −1,307
7 Securities of euro area residents denominated in euro 591,441 −748
7.1 Securities held for monetary policy purposes 241,421 0
7.2 Other securities 350,020 −748
8 General government debt denominated in euro 28,328 0
9 Other assets 243,359 100
Total assets 2,280,794 −10,162
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 935,063 7,567
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 442,136 12,528
2.1 Current accounts (covering the minimum reserve system) 203,674 −11,827
2.2 Deposit facility 54,069 −2,078
2.3 Fixed-term deposits 184,000 26,236
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 394 198
3 Other liabilities to euro area credit institutions denominated in euro 5,226 85
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 103,771 −30,109
5.1 General government 77,307 −19,177
5.2 Other liabilities 26,464 −10,932
6 Liabilities to non-euro area residents denominated in euro 114,323 −25
7 Liabilities to euro area residents denominated in foreign currency 1,976 −306
8 Liabilities to non-euro area residents denominated in foreign currency 5,590 479
8.1 Deposits, balances and other liabilities 5,590 479
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 53,565 0
10 Other liabilities 224,190 −381
11 Revaluation accounts 304,534 0
12 Capital and reserves 90,420 0
Total liabilities 2,280,794 −10,162
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