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Consolidated financial statement of the Eurosystem as at 15 May 2015

19 May 2015

Items not related to monetary policy operations

In the week ending 15 May 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) decreased by EUR 0.1 billion to EUR 271.2 billion, on account of customer and portfolio transactions.

During the week, the Eurosystem did not conduct 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 1.2 billion to EUR 373.9 billion. Banknotes in circulation (liability item 1) increased by EUR 1.6 billion to EUR 1,028.9 billion. Liabilities to general government (liability item 5.1) rose by EUR 15.7 billion to EUR 70 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 2.8 billion to EUR 398.4 billion. On Wednesday, 13 May 2015, a main refinancing operation (asset item 5.1) of EUR 95.2 billion matured and a new one of EUR 90.6 billion, with a maturity of seven days, was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (unchanged from the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 101.1 billion (compared with EUR 108.5 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 16.8 billion to EUR 384 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 15 May 2015 Difference compared with 8 May 2015 – purchases Difference compared with 8 May 2015 – redemptions
Covered bond purchase programme 1 EUR 25.3 billion - -
Covered bond purchase programme 2 EUR 11.3 billion - -
Covered bond purchase programme 3 EUR 80.8 billion +EUR 2.8 billion -
Asset-backed securities purchase programme EUR 6.1 billion +EUR 0.3 billion -
Public sector purchase programme EUR 122.5 billion +EUR 13.7 billion -
Securities Markets Programme EUR 138.1 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) increased by EUR 7.3 billion to EUR 306.3 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 301,524 −1,321
  2.1 Receivables from the IMF 82,299 −759
  2.2 Balances with banks and security investments, external loans and other external assets 219,225 −562
3 Claims on euro area residents denominated in foreign currency 39,490 21
4 Claims on non-euro area residents denominated in euro 21,214 88
  4.1 Balances with banks, security investments and loans 21,214 88
  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 499,450 −4,585
  5.1 Main refinancing operations 90,622 −4,611
  5.2 Longer-term refinancing operations 408,748 0
  5.3 Fine-tuning reverse operations 0 0
  5.4 Structural reverse operations 0 0
  5.5 Marginal lending facility 79 26
  5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 130,254 1,697
7 Securities of euro area residents denominated in euro 757,860 15,573
  7.1 Securities held for monetary policy purposes 384,003 16,782
  7.2 Other securities 373,857 −1,209
8 General government debt denominated in euro 25,748 0
9 Other assets 229,122 −698
Total assets 2,388,627 10,774
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 1,028,925 1,607
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 407,327 −175
  2.1 Current accounts (covering the minimum reserve system) 306,277 7,254
  2.2 Deposit facility 101,050 −7,429
  2.3 Fixed-term deposits 0 0
  2.4 Fine-tuning reverse operations 0 0
  2.5 Deposits related to margin calls 0 0
3 Other liabilities to euro area credit institutions denominated in euro 5,498 9
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 132,518 16,152
  5.1 General government 70,030 15,678
  5.2 Other liabilities 62,488 474
6 Liabilities to non-euro area residents denominated in euro 28,143 −5,688
7 Liabilities to euro area residents denominated in foreign currency 2,080 −170
8 Liabilities to non-euro area residents denominated in foreign currency 7,092 −995
  8.1 Deposits, balances and other liabilities 7,092 −995
  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 216,958 1
11 Revaluation accounts 403,298 0
12 Capital and reserves 96,131 33
Total liabilities 2,388,627 10,774
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