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Consolidated financial statement of the Eurosystem as at 17 May 2013

21 May 2013

Items not related to monetary policy operations

In the week ending 17 May 2013 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 223.3 billion on account of customer and portfolio transactions.

No liquidity-providing transactions were conducted in the week ending 17 May 2013 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 0.4 billion to EUR 345.9 billion. Banknotes in circulation (liability item 1) rose by EUR 0.2 billion to EUR 905.2 billion. Liabilities to general government (liability item 5.1) increased by EUR 15.2 billion to EUR 80.8 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) decreased by EUR 1.6 billion to EUR 552.6 billion. On Wednesday, 15 May 2013, a main refinancing operation of EUR 110.3 billion matured and a new one of EUR 103.8 billion, with a maturity of seven days, was settled. On the same day, fixed-term deposits in an amount of EUR 201 billion matured and new deposits were collected in the same amount, with a maturity of seven days.

During the week, EUR 6.4 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with EUR 1.2 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 83 billion (compared with EUR 95.3 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) remained unchanged at EUR 263.2 billion. Therefore, in the week ending 17 May 2013 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 201 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 46.1 billion and EUR 16.1 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 14.2 billion to EUR 319.5 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 435,317 0
2 Claims on non-euro area residents denominated in foreign currency 253,683 −2,363
2.1 Receivables from the IMF 86,457 −110
2.2 Balances with banks and security investments, external loans and other external assets 167,226 −2,254
3 Claims on euro area residents denominated in foreign currency 35,466 −102
4 Claims on non-euro area residents denominated in euro 22,549 −240
4.1 Balances with banks, security investments and loans 22,549 −240
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 836,609 −13,877
5.1 Main refinancing operations 103,844 −6,446
5.2 Longer-term refinancing operations 732,642 −6,357
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 122 −1,075
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 96,558 −6,641
7 Securities of euro area residents denominated in euro 609,112 408
7.1 Securities held for monetary policy purposes 263,222 0
7.2 Other securities 345,890 408
8 General government debt denominated in euro 29,018 0
9 Other assets 259,095 −6,056
Total assets 2,577,406 −28,871
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 905,196 180
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 603,550 −26,486
2.1 Current accounts (covering the minimum reserve system) 319,504 −14,193
2.2 Deposit facility 83,039 −12,301
2.3 Fixed-term deposits 201,000 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 7 7
3 Other liabilities to euro area credit institutions denominated in euro 5,724 175
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 106,555 11,389
5.1 General government 80,803 15,155
5.2 Other liabilities 25,753 −3,766
6 Liabilities to non-euro area residents denominated in euro 163,264 −2,101
7 Liabilities to euro area residents denominated in foreign currency 4,201 −2,871
8 Liabilities to non-euro area residents denominated in foreign currency 6,525 46
8.1 Deposits, balances and other liabilities 6,525 46
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 55,145 0
10 Other liabilities 231,807 −9,001
11 Revaluation accounts 406,635 0
12 Capital and reserves 88,806 −201
Total liabilities 2,577,406 −28,871
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