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Consolidated financial statement of the Eurosystem as at 13 July 2012

17 July 2012

Items not related to monetary policy operations

In the week ending 13 July 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 0.4 billion to EUR 245.1 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
12 July 2012 7-day US dollar liquidity-providing reverse transaction USD 4.3 billion USD 5.1 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 0.5 billion to EUR 321 billion. Banknotes in circulation (liability item 1) increased by EUR 0.2 billion to EUR 897.7 billion. Liabilities to general government (liability item 5.1) fell by EUR 3 billion to EUR 131.9 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 411.5 billion to EUR 646.3 billion. On Wednesday, 11 July 2012, a main refinancing operation of EUR 163.6 billion matured and a new one of EUR 163.7 billion was settled. On the same day, fixed-term deposits in an amount of EUR 210.5 billion matured and new deposits in an amount of EUR 211.5 billion, with a maturity of one week, were collected. Also on Wednesday, 11 July 2012, a longer-term refinancing operation of EUR 18.9 billion matured and a new one of EUR 24.4 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.7 billion (compared with EUR 1.3 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 386.8 billion (compared with EUR 795.2 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 281.5 billion. This increase was due to the purchases settled under the second covered bond purchase programme. Therefore, in the week ending 13 July 2012, the value of accumulated purchases under the Securities Markets Programme amounted to EUR 211.3 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 55.8 billion and EUR 14.3 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 388 billion to EUR 479.7 billion.

Banc Ceannais Eorpach
Stiúrthóireacht Cumarsáide, Rannóg Preasa agus Faisnéise
Sonnemannstrasse 20, D-60314 Frankfurt am Main
Teil.: +49 69 1344 7455, Facs: +49 69 1344 7404
Idirlíon: http://www.ecb.europa.eu

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