Consolidated financial statement of the Eurosystem as at 8 June 2012

12 June 2012

Items not related to monetary policy operations

In the week ending 8 June 2012 the decrease of EUR 1 million in gold and gold receivables (asset item 1) reflected the sale of gold coin by one Eurosystem central bank.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) increased by EUR 1.8 billion to EUR 225 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
7 June 2012 7-day US dollar liquidity-providing reverse transaction USD 0.5 billion USD 1.5 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 0.1 billion to EUR 324.4 billion. Banknotes in circulation (liability item 1) increased by EUR 3.7 billion to EUR 888.6 billion. Liabilities to general government (liability item 5.1) fell by EUR 4.3 billion to EUR 113.8 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 66 billion to EUR 183.8 billion. On Wednesday, 6 June 2012, a main refinancing operation of EUR 51.2 billion matured and a new one of EUR 119.4 billion was settled. On the same day, fixed-term deposits in an amount of EUR 212 billion matured and new deposits in the same amount were collected.

Recourse to the marginal lending facility (asset item 5.5) was EUR 1.9 billion (compared with EUR 0.7 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 788.2 billion (compared with EUR 785 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 0.4 billion to EUR 281.2 billion. This increase was due to purchases under the second covered bond purchase programme, which more than offset the redemption of securities purchased under the first covered bond purchase programme. Therefore, in the week ending 8 June 2012 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 212.1 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 56.3 billion and EUR 12.8 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 6.9 billion to EUR 87.1 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 432,702 −1
2 Claims on non-euro area residents denominated in foreign currency 244,526 929
2.1 Receivables from the IMF 86,085 4
2.2 Balances with banks and security investments, external loans and other external assets 158,441 925
3 Claims on euro area residents denominated in foreign currency 49,069 −8
4 Claims on non-euro area residents denominated in euro 16,616 −974
4.1 Balances with banks, security investments and loans 16,616 −974
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 1,185,060 69,544
5.1 Main refinancing operations 119,370 68,193
5.2 Longer-term refinancing operations 1,063,629 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 1,949 1,239
5.6 Credits related to margin calls 112 111
6 Other claims on euro area credit institutions denominated in euro 189,547 −61,046
7 Securities of euro area residents denominated in euro 605,665 552
7.1 Securities held for monetary policy purposes 281,242 419
7.2 Other securities 324,423 133
8 General government debt denominated in euro 30,583 0
9 Other assets 255,914 −1,906
Total assets 3,009,684 7,091
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 888,613 3,738
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,088,326 −3,374
2.1 Current accounts (covering the minimum reserve system) 87,070 −6,948
2.2 Deposit facility 788,218 3,245
2.3 Fixed-term deposits 212,000 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 1,039 328
3 Other liabilities to euro area credit institutions denominated in euro 3,913 514
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 124,720 −4,306
5.1 General government 113,776 −4,316
5.2 Other liabilities 10,944 10
6 Liabilities to non-euro area residents denominated in euro 129,600 13,181
7 Liabilities to euro area residents denominated in foreign currency 4,006 −1,485
8 Liabilities to non-euro area residents denominated in foreign currency 9,890 611
8.1 Deposits, balances and other liabilities 9,890 611
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 220,707 −2,174
11 Revaluation accounts 399,445 0
12 Capital and reserves 85,747 385
Total liabilities 3,009,684 7,091

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