Consolidated financial statement of the Eurosystem as at 6 April 2012

11 April 2012

Items not related to monetary policy operations

In the week ending 6 April 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) decreased by EUR 0.9 billion to EUR 227.1 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
5 April 2012 7-day US dollar liquidity-providing reverse transaction USD 2.9 billion USD 1.4 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 0.2 billion to EUR 347.5 billion. Banknotes in circulation (liability item 1) rose by EUR 10.9 billion to EUR 880.9 billion. Liabilities to general government (liability item 5.1) increased by EUR 8.5 billion to EUR 146 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 5.6 billion to EUR 155.5 billion. On Wednesday, 4 April 2012, a main refinancing operation of EUR 61.1 billion matured and a new one of EUR 62.6 billion was settled. On the same day, fixed-term deposits in an amount of EUR 213.5 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 billion (compared with EUR 1.6 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 784.8 billion (compared with EUR 778.7 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 0.2 billion to EUR 280.4 billion. This increase was due to the purchases under the second covered bond purchase programme that were settled during the week. Therefore, in the week ending 6 April 2012 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 214.2 billion, while those of the portfolios held under the first and second covered bond purchase programmes totalled EUR 56.8 billion and EUR 9.4 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) decreased by EUR 22.7 billion to EUR 86 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 432,706 0
2 Claims on non-euro area residents denominated in foreign currency 240,334 1,866
2.1 Receivables from the IMF 85,339 144
2.2 Balances with banks and security investments, external loans and other external assets 154,995 1,721
3 Claims on euro area residents denominated in foreign currency 53,771 −1,389
4 Claims on non-euro area residents denominated in euro 19,870 1,504
4.1 Balances with banks, security investments and loans 19,870 1,504
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 1,154,483 899
5.1 Main refinancing operations 62,625 1,547
5.2 Longer-term refinancing operations 1,090,891 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 966 −648
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 60,752 1,177
7 Securities of euro area residents denominated in euro 627,950 469
7.1 Securities held for monetary policy purposes 280,423 244
7.2 Other securities 347,526 226
8 General government debt denominated in euro 31,131 0
9 Other assets 344,337 −3,620
Total assets 2,965,333 906
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 880,885 10,937
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,084,998 −16,180
2.1 Current accounts (covering the minimum reserve system) 86,003 −22,650
2.2 Deposit facility 784,829 6,127
2.3 Fixed-term deposits 213,500 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 667 343
3 Other liabilities to euro area credit institutions denominated in euro 2,288 143
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 157,631 7,996
5.1 General government 145,990 8,469
5.2 Other liabilities 11,641 −473
6 Liabilities to non-euro area residents denominated in euro 74,064 −5,741
7 Liabilities to euro area residents denominated in foreign currency 4,681 1,656
8 Liabilities to non-euro area residents denominated in foreign currency 7,579 −243
8.1 Deposits, balances and other liabilities 7,579 −243
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 54,716 0
10 Other liabilities 215,159 2,337
11 Revaluation accounts 399,445 0
12 Capital and reserves 83,887 0
Total liabilities 2,965,333 906

Media contacts