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Consolidated financial statement of the Eurosystem as at 2 August 2013

6 August 2013

Items not related to monetary policy operations

In the week ending 2 August 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 0.5 billion to EUR 212.8 billion on account of customer and portfolio transactions.

In the week ending 2 August 2013 the Eurosystem did not conduct any liquidity-providing transactions 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 4 billion to EUR 348.2 billion. Banknotes in circulation (liability item 1) increased by EUR 5.6 billion to EUR 922.3 billion. Liabilities to general government (liability item 5.1) decreased by EUR 38.8 billion to EUR 75.6 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 3.9 billion to EUR 521.9 billion. On Wednesday, 31 July 2013, a main refinancing operation of EUR 102.3 billion matured and a new one of EUR 109.2 billion, with a maturity of one week, was settled. On the same day, fixed-term deposits in an amount of EUR 195.5 billion matured and new deposits were collected in the same amount, with a maturity of one week.

During the week, a longer-term refinancing operation of EUR 3 billion matured and a new one of EUR 2.7 billion was settled, while EUR 1.5 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 0.7 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 87.3 billion (compared with EUR 79.2 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 2.9 billion to EUR 252.5 billion. This decrease was due to the redemption of securities acquired under the Securities Markets Programme. Therefore, in the week ending 2 August 2013 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 192.6 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 44.1 billion and EUR 15.8 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 16.5 billion to EUR 272.3 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 319,968 0
2 Claims on non-euro area residents denominated in foreign currency 247,320 −348
2.1 Receivables from the IMF 85,333 271
2.2 Balances with banks and security investments, external loans and other external assets 161,988 −619
3 Claims on euro area residents denominated in foreign currency 25,825 −65
4 Claims on non-euro area residents denominated in euro 21,660 869
4.1 Balances with banks, security investments and loans 21,660 869
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 804,920 4,346
5.1 Main refinancing operations 109,163 6,862
5.2 Longer-term refinancing operations 695,734 −1,810
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 19 −710
5.6 Credits related to margin calls 3 3
6 Other claims on euro area credit institutions denominated in euro 86,813 773
7 Securities of euro area residents denominated in euro 600,712 −6,925
7.1 Securities held for monetary policy purposes 252,499 −2,885
7.2 Other securities 348,213 −4,040
8 General government debt denominated in euro 28,356 0
9 Other assets 255,517 −3,741
Total assets 2,391,090 −5,091
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 922,288 5,631
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 555,384 24,795
2.1 Current accounts (covering the minimum reserve system) 272,329 16,507
2.2 Deposit facility 87,348 8,106
2.3 Fixed-term deposits 195,500 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 208 181
3 Other liabilities to euro area credit institutions denominated in euro 6,519 −174
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 99,748 −37,367
5.1 General government 75,598 −38,774
5.2 Other liabilities 24,150 1,406
6 Liabilities to non-euro area residents denominated in euro 135,923 −465
7 Liabilities to euro area residents denominated in foreign currency 1,387 −254
8 Liabilities to non-euro area residents denominated in foreign currency 4,761 −660
8.1 Deposits, balances and other liabilities 4,761 −660
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 54,240 0
10 Other liabilities 235,742 3,380
11 Revaluation accounts 284,680 0
12 Capital and reserves 90,418 23
Total liabilities 2,391,090 −5,091
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