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Consolidated financial statement of the Eurosystem as at 10 February 2012

14 February 2012

Items not related to monetary policy operations

In the week ending 10 February 2012 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 0.1 billion to EUR 277.5 billion on account of customer and portfolio transactions and US dollar liquidity-providing operations (see below).

US dollar liquidity operations
Value date Type of transaction Maturing amount New amount
9 February 2012 7-day US dollar liquidity-providing reverse transaction USD 3.7 billion USD 4.1 billion

The liquidity-providing transactions were conducted by the Eurosystem 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 0.9 billion to EUR 341.6 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.5 billion to EUR 870 billion. Liabilities to general government (liability item 5.1) rose by EUR 0.5 billion to EUR 84.1 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 5.3 billion to EUR 58.4 billion. On Wednesday, 8 February 2012, a main refinancing operation of EUR 115.6 billion matured and a new one of EUR 109.5 billion was settled. On the same day, fixed-term deposits in an amount of EUR 219 billion matured and new deposits were collected in the same amount, with a maturity of one week.

Recourse to the marginal lending facility (asset item 5.5) was EUR 1.2 billion (compared with EUR 2.8 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 507.9 billion (compared with EUR 511.4 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 0.1 billion to EUR 282.7 billion. This increase was due to settled purchases under the Securities Markets Programme and the second covered bond purchase programme, as well as the redemption of securities under the first covered bond purchase programme. Therefore, in the week ending 10 February 2012 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 219.3 billion, while those of the portfolios held under the first and second covered bond purchase programmes totalled EUR 57.6 billion and EUR 5.8 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) decreased by EUR 0.7 billion to EUR 83.2 billion.


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