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Consolidated financial statement of the Eurosystem as at 26 September 2014

30 September 2014

Items not related to monetary policy operations

In the week ending 26 September 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 0.1 billion to EUR 213.7 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
25 September 2014 7-day US dollar liquidity-providing reverse transaction USD 20 million none

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 0.5 billion to EUR 367.3 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.3 billion to EUR 970 billion. Liabilities to general government (liability item 5.1) increased by EUR 1.1 billion to EUR 87.1 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 46.4 billion to EUR 495.5 billion. On Wednesday, 24 September 2014, a main refinancing operation of EUR 105.7 billion matured and a new one of EUR 90.3 billion, with a maturity of one week, was settled. On the same day, a targeted longer-term refinancing operation (TLTRO) of EUR 82.6 billion, with a maturity of 1,463 days, was settled.

During the week, a longer-term refinancing operation of EUR 10.4 billion matured and a new one of EUR 11 billion was settled, while EUR 19.9 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) remained virtually unchanged at EUR 0.3 billion, while recourse to the deposit facility (liability item 2.2) was EUR 24.7 billion (compared with EUR 23.1 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 194.5 billion. Therefore, in the week ending 26 September 2014, the value of accumulated purchases under the Securities Markets Programme amounted to EUR 148.7 billion, while the value of the portfolios held under the first and second covered bond purchase programmes totalled EUR 32.2 billion and EUR 13.6 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 47 billion to EUR 209.4 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 334,434 0
2 Claims on non-euro area residents denominated in foreign currency 248,444 1,176
2.1 Receivables from the IMF 81,205 68
2.2 Balances with banks and security investments, external loans and other external assets 167,239 1,108
3 Claims on euro area residents denominated in foreign currency 26,450 −407
4 Claims on non-euro area residents denominated in euro 20,485 615
4.1 Balances with banks, security investments and loans 20,485 615
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 520,227 47,964
5.1 Main refinancing operations 90,307 −15,382
5.2 Longer-term refinancing operations 429,593 63,289
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 326 56
5.6 Credits related to margin calls 1 1
6 Other claims on euro area credit institutions denominated in euro 66,297 2,972
7 Securities of euro area residents denominated in euro 561,848 453
7.1 Securities held for monetary policy purposes 194,513 −24
7.2 Other securities 367,335 477
8 General government debt denominated in euro 26,709 0
9 Other assets 233,340 −2,691
Total assets 2,038,235 50,082
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 970,045 −337
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 234,117 48,590
2.1 Current accounts (covering the minimum reserve system) 209,411 46,978
2.2 Deposit facility 24,705 1,628
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 1 −16
3 Other liabilities to euro area credit institutions denominated in euro 4,825 −120
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 116,597 777
5.1 General government 87,142 1,149
5.2 Other liabilities 29,455 −372
6 Liabilities to non-euro area residents denominated in euro 40,258 −602
7 Liabilities to euro area residents denominated in foreign currency 810 −192
8 Liabilities to non-euro area residents denominated in foreign currency 6,990 837
8.1 Deposits, balances and other liabilities 6,990 837
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 214,494 1,129
11 Revaluation accounts 301,418 0
12 Capital and reserves 95,312 0
Total liabilities 2,038,235 50,082
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