Consolidated financial statement of the Eurosystem as at 5 October 2012

9 October 2012

Items not related to monetary policy operations

In the week ending 5 October 2012, gold and gold receivables (asset item 1) decreased by EUR 186 million owing to the sale of gold 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 0.2 billion to EUR 229.4 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
4 October 2012 7-day US dollar liquidity-providing reverse transaction USD 1.6 billion USD 2 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 0.6 billion to EUR 316.9 billion. Banknotes in circulation (liability item 1) rose by EUR 1.9 billion to EUR 894.4 billion. Liabilities to general government (liability item 5.1) increased by EUR 6.9 billion to EUR 105.9 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 3.9 billion to EUR 655.4 billion. On Wednesday, 3 October 2012, a main refinancing operation of EUR 117.4 billion matured and a new one of EUR 102.9 billion was settled. On the same day, fixed-term deposits in an amount of EUR 209 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 0.7 billion (compared with EUR 2 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 296.5 billion (compared with EUR 315.8 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.2 billion to EUR 280 billion. This decrease was due to the redemption of securities under the first covered bond purchase programme. Therefore, in the week ending 5 October 2012, the value of accumulated purchases under the Securities Markets Programme amounted to EUR 209.5 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 54.2 billion and EUR 16.3 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) decreased by EUR 4.5 billion to EUR 521.3 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 479,106 −186
2 Claims on non-euro area residents denominated in foreign currency 257,825 1,412
2.1 Receivables from the IMF 90,091 22
2.2 Balances with banks and security investments, external loans and other external assets 167,734 1,390
3 Claims on euro area residents denominated in foreign currency 39,713 −144
4 Claims on non-euro area residents denominated in euro 17,201 689
4.1 Balances with banks, security investments and loans 17,201 689
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 1,162,312 −15,872
5.1 Main refinancing operations 102,886 −14,496
5.2 Longer-term refinancing operations 1,058,750 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 669 −1,378
5.6 Credits related to margin calls 7 2
6 Other claims on euro area credit institutions denominated in euro 211,168 −1,484
7 Securities of euro area residents denominated in euro 596,870 −785
7.1 Securities held for monetary policy purposes 280,008 −199
7.2 Other securities 316,862 −586
8 General government debt denominated in euro 30,010 0
9 Other assets 268,384 −3,473
Total assets 3,062,589 −19,843
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 894,360 1,864
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 1,028,244 −24,285
2.1 Current accounts (covering the minimum reserve system) 521,337 −4,493
2.2 Deposit facility 296,464 −19,289
2.3 Fixed-term deposits 209,000 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 1,443 −502
3 Other liabilities to euro area credit institutions denominated in euro 6,122 897
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 128,650 9,211
5.1 General government 105,891 6,934
5.2 Other liabilities 22,759 2,277
6 Liabilities to non-euro area residents denominated in euro 164,572 −7,095
7 Liabilities to euro area residents denominated in foreign currency 4,761 563
8 Liabilities to non-euro area residents denominated in foreign currency 7,114 489
8.1 Deposits, balances and other liabilities 7,114 489
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 56,243 0
10 Other liabilities 234,149 −1,486
11 Revaluation accounts 452,824 0
12 Capital and reserves 85,551 0
Total liabilities 3,062,589 −19,843

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