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Consolidated financial statement of the Eurosystem as at 13 December 2013

17 December 2013

Items not related to monetary policy operations

In the week ending 13 December 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 past week the Eurosystem has not conducted 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) increased by EUR 0.7 billion to EUR 350.7 billion. Banknotes in circulation (liability item 1) increased by EUR 3.6 billion to EUR 938.7 billion. Liabilities to general government (liability item 5.1) decreased by EUR 1.4 billion to EUR 75.9 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 19.8 billion to EUR 490.6 billion. On Wednesday, 11 December 2013, a main refinancing operation of EUR 94.6 billion matured and a new one of EUR 98.5 billion, with a maturity of one week, was settled. On the same day, fixed-term deposits in an amount of EUR 184 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 3.2 billion matured and a new one of EUR 10.1 billion was settled, while EUR 7.1 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with EUR 0.2 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 38.3 billion (compared with EUR 54.1 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.2 billion to EUR 241.3 billion. This decrease was due to the redemption of securities acquired under the first covered bond purchase programme. Therefore, in the week ending 13 December 2013 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 184.1 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 41.7 billion and EUR 15.4 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 20 billion to EUR 223.6 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 343,920 0
2 Claims on non-euro area residents denominated in foreign currency 243,659 −927
2.1 Receivables from the IMF 82,420 −101
2.2 Balances with banks and security investments, external loans and other external assets 161,238 −826
3 Claims on euro area residents denominated in foreign currency 23,849 248
4 Claims on non-euro area residents denominated in euro 20,187 −187
4.1 Balances with banks, security investments and loans 20,187 −187
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 713,016 3,719
5.1 Main refinancing operations 98,495 3,869
5.2 Longer-term refinancing operations 614,393 −120
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 128 −30
5.6 Credits related to margin calls 1 0
6 Other claims on euro area credit institutions denominated in euro 73,234 −2,654
7 Securities of euro area residents denominated in euro 591,937 496
7.1 Securities held for monetary policy purposes 241,251 −170
7.2 Other securities 350,686 666
8 General government debt denominated in euro 28,326 −2
9 Other assets 244,893 1,534
Total assets 2,283,020 2,226
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 938,657 3,595
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 446,054 3,918
2.1 Current accounts (covering the minimum reserve system) 223,637 19,963
2.2 Deposit facility 38,341 −15,728
2.3 Fixed-term deposits 184,000 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 76 −318
3 Other liabilities to euro area credit institutions denominated in euro 4,980 −245
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 104,310 539
5.1 General government 75,911 −1,396
5.2 Other liabilities 28,399 1,935
6 Liabilities to non-euro area residents denominated in euro 110,181 −4,142
7 Liabilities to euro area residents denominated in foreign currency 2,049 73
8 Liabilities to non-euro area residents denominated in foreign currency 5,042 −548
8.1 Deposits, balances and other liabilities 5,042 −548
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 223,226 −964
11 Revaluation accounts 304,534 0
12 Capital and reserves 90,420 0
Total liabilities 2,283,020 2,226
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