Consolidated financial statement of the Eurosystem as at 13 April 2012

17 April 2012

Items not related to monetary policy operations

In the week ending 13 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) increased by EUR 0.9 billion to EUR 228 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
12 April 2012 7-day US dollar liquidity-providing reverse transaction USD 1.4 billion USD 1.3 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) decreased by EUR 0.5 billion to EUR 347 billion. Banknotes in circulation (liability item 1) fell by EUR 6.6 billion to EUR 874.3 billion. Liabilities to general government (liability item 5.1) increased by EUR 12.8 billion to EUR 158.8 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 35.3 billion to EUR 190.8 billion. On Wednesday, 11 April 2012, a main refinancing operation of EUR 62.6 billion matured and a new one of EUR 55.4 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 amount of EUR 214 billion, with a maturity of one week. During the week a longer-term refinancing operation of EUR 9.8 billion matured and a new one of EUR 11.4 billion was settled, while EUR 1.9 billion was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was EUR 2 billion (compared with EUR 1 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 742.8 billion (compared with EUR 784.8 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 0.3 billion to EUR 280.7 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 13 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 9.7 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 43 billion to EUR 129 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 239,669 −665
2.1 Receivables from the IMF 86,103 764
2.2 Balances with banks and security investments, external loans and other external assets 153,566 −1,429
3 Claims on euro area residents denominated in foreign currency 54,513 742
4 Claims on non-euro area residents denominated in euro 20,106 236
4.1 Balances with banks, security investments and loans 20,106 236
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 1,147,981 −6,501
5.1 Main refinancing operations 55,362 −7,263
5.2 Longer-term refinancing operations 1,090,626 −265
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 1,993 1,027
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 62,548 1,796
7 Securities of euro area residents denominated in euro 627,712 −238
7.1 Securities held for monetary policy purposes 280,680 256
7.2 Other securities 347,032 −494
8 General government debt denominated in euro 31,131 0
9 Other assets 358,493 14,156
Total assets 2,974,859 9,526
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 874,293 −6,592
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,086,212 1,213
2.1 Current accounts (covering the minimum reserve system) 129,019 43,016
2.2 Deposit facility 742,825 −42,004
2.3 Fixed-term deposits 214,000 500
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 367 −299
3 Other liabilities to euro area credit institutions denominated in euro 2,386 98
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 169,809 12,178
5.1 General government 158,789 12,798
5.2 Other liabilities 11,020 −621
6 Liabilities to non-euro area residents denominated in euro 76,841 2,777
7 Liabilities to euro area residents denominated in foreign currency 3,597 −1,084
8 Liabilities to non-euro area residents denominated in foreign currency 7,846 268
8.1 Deposits, balances and other liabilities 7,846 268
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 214,196 −963
11 Revaluation accounts 399,445 0
12 Capital and reserves 85,519 1,632
Total liabilities 2,974,859 9,526

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