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Consolidated financial statement of the Eurosystem as at 11 January 2013

15 January 2013

Items not related to monetary policy operations

In the week ending 11 January 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) decreased by EUR 0.4 billion to EUR 218.4 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
10 January 2013 7-day US dollar liquidity-providing reverse transaction USD 1 billion USD 0.1 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 1 billion to EUR 309 billion. Banknotes in circulation (liability item 1) fell by EUR 10.8 billion to EUR 893.6 billion. Liabilities to general government (liability item 5.1) increased by EUR 0.3 billion to EUR 97.1 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 26.5 billion to EUR 681.8 billion. On Wednesday, 9 January 2013, a main refinancing operation of EUR 81.1 billion matured and a new one of EUR 77.7 billion was settled. On the same day, fixed-term deposits in an amount of EUR 208.5 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 0.2 billion (compared with EUR 0.1 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 222.6 billion (compared with EUR 252.6 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.3 billion to EUR 276.6 billion. This decrease was due to the redemption of securities under the first covered bond purchase programme. Therefore, in the week ending 11 January 2013, the value of accumulated purchases under the Securities Markets Programme amounted to EUR 208.7 billion, while the value of the portfolios held under the first and second covered bond purchase programmes totalled EUR 51.5 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 45.4 billion to EUR 507.7 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 438,687 0
2 Claims on non-euro area residents denominated in foreign currency 251,302 617
2.1 Receivables from the IMF 86,970 −10
2.2 Balances with banks and security investments, external loans and other external assets 164,332 627
3 Claims on euro area residents denominated in foreign currency 31,388 −952
4 Claims on non-euro area residents denominated in euro 21,714 2,680
4.1 Balances with banks, security investments and loans 21,714 2,680
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 1,113,646 −3,348
5.1 Main refinancing operations 77,725 −3,372
5.2 Longer-term refinancing operations 1,035,769 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 151 24
5.6 Credits related to margin calls 1 1
6 Other claims on euro area credit institutions denominated in euro 200,114 −3,702
7 Securities of euro area residents denominated in euro 585,602 658
7.1 Securities held for monetary policy purposes 276,598 −305
7.2 Other securities 309,004 963
8 General government debt denominated in euro 29,961 0
9 Other assets 280,118 414
Total assets 2,952,532 −3,633
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 893,632 −10,779
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 939,540 15,522
2.1 Current accounts (covering the minimum reserve system) 507,684 45,396
2.2 Deposit facility 222,608 −30,007
2.3 Fixed-term deposits 208,500 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 748 132
3 Other liabilities to euro area credit institutions denominated in euro 6,530 36
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 134,864 −2,345
5.1 General government 97,123 267
5.2 Other liabilities 37,741 −2,611
6 Liabilities to non-euro area residents denominated in euro 180,271 −5,214
7 Liabilities to euro area residents denominated in foreign currency 3,593 154
8 Liabilities to non-euro area residents denominated in foreign currency 5,739 −76
8.1 Deposits, balances and other liabilities 5,739 −76
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 54,952 0
10 Other liabilities 240,340 −1,071
11 Revaluation accounts 407,377 2
12 Capital and reserves 85,693 138
Total liabilities 2,952,532 −3,633
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