Consolidated financial statement of the Eurosystem as at 26 December 2014

Items not related to monetary policy operations

In the week ending 26 December 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) increased by EUR 1.3 billion to EUR 231.2 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 0.2 billion to EUR 370.6 billion. Banknotes in circulation (liability item 1) rose by EUR 13.4 billion to EUR 1,017.2 billion. Liabilities to general government (liability item 5.1) decreased by EUR 14.1 billion to EUR 66.4 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 8.5 billion to EUR 549 billion. On Tuesday, 23 December 2014, a main refinancing operation of EUR 99 billion matured and a new one of EUR 119.2 billion, with a maturity of seven days, was settled.

During the week, EUR 7.1 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (similar to the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 43.5 billion (compared with EUR 38.9 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 1.4 billion to EUR 216.9 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.

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 11.3 billion to EUR 256.4 billion.