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Consolidated financial statement of the Eurosystem as at 7 November 2014

11 November 2014

Items not related to monetary policy operations

In the week ending 7 November 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) decreased by EUR 0.4 billion to EUR 227.3 billion on account of customer and portfolio transactions.

In the past week the Eurosystem has not conducted 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) increased by EUR 0.8 billion to EUR 365 billion. Banknotes in circulation (liability item 1) rose by EUR 2 billion to EUR 977.2 billion. Liabilities to general government (liability item 5.1) increased by EUR 1.4 billion to EUR 58.2 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 28.4 billion to EUR 460.8 billion. On Wednesday, 5 November 2014, a main refinancing operation of EUR 118.2 billion matured and a new one of EUR 98.2 billion, with a maturity of one week, was settled.

During the week, EUR 3.9 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 1 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 42 billion (compared with EUR 38.4 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 2.6 billion to EUR 195.6 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 7 November 2014 Difference compared with last week - Purchases Difference compared with last week - Redemptions
Covered bond purchase programme 1 EUR 30.4 billion - -
Covered bond purchase programme 2 EUR 13.2 billion - -
Covered bond purchase programme 3 EUR 7.4 billion EUR 2.6 billion -
Securities Markets Programme EUR 144.6 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 28.5 billion to EUR 183.1 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 334,532 0
2 Claims on non-euro area residents denominated in foreign currency 261,379 −1,555
2.1 Receivables from the IMF 83,906 −379
2.2 Balances with banks and security investments, external loans and other external assets 177,472 −1,176
3 Claims on euro area residents denominated in foreign currency 28,077 173
4 Claims on non-euro area residents denominated in euro 22,148 −192
4.1 Balances with banks, security investments and loans 22,148 −192
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 502,816 −24,812
5.1 Main refinancing operations 98,189 −19,963
5.2 Longer-term refinancing operations 404,622 −3,850
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 4 −999
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 57,694 −2,137
7 Securities of euro area residents denominated in euro 560,547 3,470
7.1 Securities held for monetary policy purposes 195,562 2,640
7.2 Other securities 364,985 830
8 General government debt denominated in euro 26,727 0
9 Other assets 235,817 2,729
Total assets 2,029,737 −22,323
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 977,197 1,964
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 225,181 −24,846
2.1 Current accounts (covering the minimum reserve system) 183,130 −28,455
2.2 Deposit facility 42,032 3,617
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 19 −8
3 Other liabilities to euro area credit institutions denominated in euro 4,400 −381
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 93,738 668
5.1 General government 58,249 1,412
5.2 Other liabilities 35,489 −745
6 Liabilities to non-euro area residents denominated in euro 40,476 1,354
7 Liabilities to euro area residents denominated in foreign currency 1,290 −56
8 Liabilities to non-euro area residents denominated in foreign currency 5,343 −939
8.1 Deposits, balances and other liabilities 5,343 −939
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 55,494 0
10 Other liabilities 215,768 −88
11 Revaluation accounts 315,537 0
12 Capital and reserves 95,313 0
Total liabilities 2,029,737 −22,323
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