Consolidated financial statement of the Eurosystem as at 19 October 2012

23 October 2012

Items not related to monetary policy operations

In the week ending 19 October 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 0.2 billion to EUR 229.2 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
18 October 2012 7-day US dollar liquidity-providing reverse transaction USD 3.6 billion USD 2.9 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 1.9 billion to EUR 314.8 billion. Banknotes in circulation (liability item 1) decreased by EUR 3.1 billion to EUR 889.1 billion. Liabilities to general government (liability item 5.1) rose by EUR 0.2 billion to EUR 100.9 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 13.3 billion to EUR 690.5 billion. On Wednesday, 17 October 2012, a main refinancing operation of EUR 89.8 billion matured and a new one of EUR 91.8 billion was settled. On the same day, fixed-term deposits in an amount of EUR 209.5 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 1.3 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 248.7 billion (compared with EUR 260.5 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.5 billion to EUR 279.3 billion. This decrease was due to the redemption of securities under the first covered bond purchase programme and the Securities Markets Programme. Therefore, in the week ending 19 October 2012, the value of accumulated purchases under the Securities Markets Programme amounted to EUR 209.3 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 53.6 billion and EUR 16.4 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) increased by EUR 6.2 billion to EUR 533.7 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 479,107 0
2 Claims on non-euro area residents denominated in foreign currency 258,859 443
2.1 Receivables from the IMF 90,080 19
2.2 Balances with banks and security investments, external loans and other external assets 168,779 423
3 Claims on euro area residents denominated in foreign currency 37,971 −1,163
4 Claims on non-euro area residents denominated in euro 17,133 221
4.1 Balances with banks, security investments and loans 17,133 221
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 1,150,496 1,884
5.1 Main refinancing operations 91,813 2,030
5.2 Longer-term refinancing operations 1,057,534 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 1,035 −256
5.6 Credits related to margin calls 114 110
6 Other claims on euro area credit institutions denominated in euro 214,553 −6,032
7 Securities of euro area residents denominated in euro 594,084 −2,380
7.1 Securities held for monetary policy purposes 279,298 −450
7.2 Other securities 314,787 −1,930
8 General government debt denominated in euro 30,010 0
9 Other assets 264,356 −45
Total assets 3,046,569 −7,072
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 889,092 −3,113
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 993,657 −5,252
2.1 Current accounts (covering the minimum reserve system) 533,667 6,155
2.2 Deposit facility 248,711 −11,766
2.3 Fixed-term deposits 209,500 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 1,778 359
3 Other liabilities to euro area credit institutions denominated in euro 6,161 16
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 156,892 2,157
5.1 General government 100,911 218
5.2 Other liabilities 55,981 1,938
6 Liabilities to non-euro area residents denominated in euro 163,410 −1,129
7 Liabilities to euro area residents denominated in foreign currency 5,767 1,029
8 Liabilities to non-euro area residents denominated in foreign currency 5,617 −1,509
8.1 Deposits, balances and other liabilities 5,617 −1,509
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 231,355 729
11 Revaluation accounts 452,824 0
12 Capital and reserves 85,551 0
Total liabilities 3,046,569 −7,072

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