Consolidated financial statement of the Eurosystem as at 9 November 2012

13 November 2012

Items not related to monetary policy operations

In the week ending 9 November 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 0.8 billion to EUR 228.9 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
8 November 2012 7-day US dollar liquidity-providing reverse transaction USD 3.1billion USD 3.2 billion
8 November 2012 84-day US dollar liquidity-providing reverse transaction USD 4.5 billion USD 4.1 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) decreased by EUR 0.7 billion to EUR 311.3 billion. Banknotes in circulation (liability item 1) decreased by EUR 2.9 billion to EUR 890.3 billion. Liabilities to general government (liability item 5.1) decreased by EUR 9.8 billion to EUR 86.8 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 8.7 billion to EUR 667.9 billion. On Wednesday, 7 November 2012, a main refinancing operation of EUR 83.7 billion matured and a new one of EUR 79.5 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 amount of EUR 208.5 billion, with a maturity of one week.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.9 billion (compared with EUR 0.5 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 248.5 billion (compared with EUR 261.4 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.1 billion to EUR 278.2 billion. This decrease was due to the redemption of securities under the first covered bond purchase programme. Therefore, in the week ending 9 November 2012, the value of accumulated purchases under the Securities Markets Programme amounted to EUR 208.5 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 53.2 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 18.6 billion to EUR 534 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 479,108 0
2 Claims on non-euro area residents denominated in foreign currency 256,877 −1,481
2.1 Receivables from the IMF 89,847 −414
2.2 Balances with banks and security investments, external loans and other external assets 167,030 −1,067
3 Claims on euro area residents denominated in foreign currency 37,323 48
4 Claims on non-euro area residents denominated in euro 15,299 −1,261
4.1 Balances with banks, security investments and loans 15,299 −1,261
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 1,127,854 −3,891
5.1 Main refinancing operations 79,474 −4,256
5.2 Longer-term refinancing operations 1,047,496 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 881 368
5.6 Credits related to margin calls 2 −2
6 Other claims on euro area credit institutions denominated in euro 233,297 1,074
7 Securities of euro area residents denominated in euro 589,416 −787
7.1 Securities held for monetary policy purposes 278,165 −103
7.2 Other securities 311,251 −685
8 General government debt denominated in euro 30,011 1
9 Other assets 269,687 4,476
Total assets 3,038,871 −1,821
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 890,310 −2,911
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 993,972 5,986
2.1 Current accounts (covering the minimum reserve system) 533,997 18,602
2.2 Deposit facility 248,510 −12,858
2.3 Fixed-term deposits 208,500 −1,000
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 2,965 1,242
3 Other liabilities to euro area credit institutions denominated in euro 6,833 769
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 139,559 −12,223
5.1 General government 86,801 −9,843
5.2 Other liabilities 52,758 −2,380
6 Liabilities to non-euro area residents denominated in euro 170,183 5,305
7 Liabilities to euro area residents denominated in foreign currency 2,124 −1,998
8 Liabilities to non-euro area residents denominated in foreign currency 6,917 1,393
8.1 Deposits, balances and other liabilities 6,917 1,393
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 234,355 1,857
11 Revaluation accounts 452,824 0
12 Capital and reserves 85,551 0
Total liabilities 3,038,871 −1,821

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