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Consolidated financial statement of the Eurosystem as at 25 October 2013

29 October 2013

Items not related to monetary policy operations

In the week ending 25 October 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) decreased by EUR 0.2 billion to EUR 206.9 billion on account of customer and portfolio transactions.

In the week ending 25 October 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 3.8 billion to EUR 349.2 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.8 billion to EUR 917.9 billion. Liabilities to general government (liability item 5.1) increased by EUR 18 billion to EUR 88.8 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 11.6 billion to EUR 504.4 billion. On Wednesday, 23 October 2013, a main refinancing operation of EUR 91.2 billion matured and a new one of EUR 90.6 billion, with a maturity of one week, was settled. On the same day, fixed-term deposits in an amount of EUR 188 billion matured and new deposits were collected in the same amount, with a maturity of one week.

During the week, EUR 5.2 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was nil (compared with virtually nil in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 51.3 billion (compared with EUR 45.7 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.8 billion to EUR 245.7 billion. This decrease was due to the redemption of securities acquired under the first covered bond purchase programme. Therefore, in the week ending 25 October 2013 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 188.2 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 42 billion and EUR 15.5 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 38.9 billion to EUR 230.2 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 343,919 0
2 Claims on non-euro area residents denominated in foreign currency 245,402 729
2.1 Receivables from the IMF 83,146 −134
2.2 Balances with banks and security investments, external loans and other external assets 162,256 862
3 Claims on euro area residents denominated in foreign currency 21,324 170
4 Claims on non-euro area residents denominated in euro 21,747 202
4.1 Balances with banks, security investments and loans 21,747 202
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 743,902 −5,828
5.1 Main refinancing operations 90,605 −629
5.2 Longer-term refinancing operations 653,296 −5,199
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 0 0
5.6 Credits related to margin calls 1 0
6 Other claims on euro area credit institutions denominated in euro 77,255 3,789
7 Securities of euro area residents denominated in euro 594,986 −4,597
7.1 Securities held for monetary policy purposes 245,745 −829
7.2 Other securities 349,240 −3,768
8 General government debt denominated in euro 28,328 0
9 Other assets 241,882 −3,683
Total assets 2,318,744 −9,218
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 917,873 −762
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 469,662 −33,127
2.1 Current accounts (covering the minimum reserve system) 230,156 −38,948
2.2 Deposit facility 51,336 5,669
2.3 Fixed-term deposits 188,000 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 170 152
3 Other liabilities to euro area credit institutions denominated in euro 5,496 32
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 119,013 17,470
5.1 General government 88,754 18,024
5.2 Other liabilities 30,260 −553
6 Liabilities to non-euro area residents denominated in euro 126,661 2,510
7 Liabilities to euro area residents denominated in foreign currency 1,725 −62
8 Liabilities to non-euro area residents denominated in foreign currency 4,560 1,130
8.1 Deposits, balances and other liabilities 4,560 1,130
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 225,235 3,592
11 Revaluation accounts 304,534 0
12 Capital and reserves 90,420 0
Total liabilities 2,318,744 −9,218
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