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.

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 423,446 0
2 Claims on non-euro area residents denominated in foreign currency 245,107 −905
2.1 Receivables from the IMF 85,520 −190
2.2 Balances with banks and security investments, external loans and other external assets 159,587 −715
3 Claims on euro area residents denominated in foreign currency 100,629 194
4 Claims on non-euro area residents denominated in euro 23,936 −244
4.1 Balances with banks, security investments and loans 23,936 −244
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 787,255 −7,723
5.1 Main refinancing operations 109,462 −6,117
5.2 Longer-term refinancing operations 676,505 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 1,213 −1,586
5.6 Credits related to margin calls 74 −20
6 Other claims on euro area credit institutions denominated in euro 70,338 −2,981
7 Securities of euro area residents denominated in euro 624,299 1,071
7.1 Securities held for monetary policy purposes 282,686 145
7.2 Other securities 341,613 925
8 General government debt denominated in euro 31,176 0
9 Other assets 349,598 4,246
Total assets 2,655,784 −6,343
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 869,974 −1,535
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 812,062 −3,173
2.1 Current accounts (covering the minimum reserve system) 83,209 −705
2.2 Deposit facility 507,876 −3,562
2.3 Fixed-term deposits 219,000 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 1,977 1,095
3 Other liabilities to euro area credit institutions denominated in euro 2,215 197
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 94,255 450
5.1 General government 84,121 517
5.2 Other liabilities 10,133 −66
6 Liabilities to non-euro area residents denominated in euro 118,781 −3,693
7 Liabilities to euro area residents denominated in foreign currency 5,014 1,473
8 Liabilities to non-euro area residents denominated in foreign currency 7,319 −2,265
8.1 Deposits, balances and other liabilities 7,319 −2,265
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 55,942 0
10 Other liabilities 214,318 2,202
11 Revaluation accounts 394,028 0
12 Capital and reserves 81,877 0
Total liabilities 2,655,784 −6,343

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