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Consolidated financial statement of the Eurosystem as at 7 June 2013

11 June 2013

Items not related to monetary policy operations

In the week ending 7 June 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 0.3 billion to EUR 219.2 billion on account of customer and portfolio transactions.

In the week ending 7 June 2013, the Eurosystem did not conduct any liquidity-providing transactions 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 347.6 billion. Banknotes in circulation (liability item 1) rose by EUR 1.7 billion to EUR 906.9 billion. Liabilities to general government (liability item 5.1) decreased by EUR 32.1 billion to EUR 70.7 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 17.5 billion to EUR 523.9 billion. On Wednesday, 5 June 2013, a main refinancing operation of EUR 103.2 billion matured and a new one of EUR 103 billion, with a maturity of seven days, was settled. On the same day, fixed-term deposits in an amount of EUR 197 billion matured and new deposits were collected in the same amount, with a maturity of one week.

During the week, EUR 3.1 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was EUR 1.1 billion (compared to virtually nil in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 100.9 billion (compared with EUR 85.6 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 2.4 billion to EUR 256.6 billion. This decrease was due to the redemption of securities under the first covered bond purchase programme and securities market programme. Therefore, in the week ending 7 June 2013 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 194.9 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 45.6 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) increased by EUR 6.7 billion to EUR 280 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 435,315 0
2 Claims on non-euro area residents denominated in foreign currency 255,147 47
2.1 Receivables from the IMF 86,732 320
2.2 Balances with banks and security investments, external loans and other external assets 168,416 −273
3 Claims on euro area residents denominated in foreign currency 28,167 848
4 Claims on non-euro area residents denominated in euro 18,917 −1,019
4.1 Balances with banks, security investments and loans 18,917 −1,019
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 821,899 −2,214
5.1 Main refinancing operations 103,019 −172
5.2 Longer-term refinancing operations 717,817 −3,081
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 1,063 1,038
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 90,204 −1,330
7 Securities of euro area residents denominated in euro 604,251 −1,342
7.1 Securities held for monetary policy purposes 256,638 −2,367
7.2 Other securities 347,614 1,025
8 General government debt denominated in euro 29,012 0
9 Other assets 263,686 2,160
Total assets 2,546,600 −2,849
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 906,905 1,659
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 578,012 21,946
2.1 Current accounts (covering the minimum reserve system) 280,024 6,669
2.2 Deposit facility 100,881 15,242
2.3 Fixed-term deposits 197,000 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 107 35
3 Other liabilities to euro area credit institutions denominated in euro 6,748 168
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 106,782 −28,454
5.1 General government 70,656 −32,083
5.2 Other liabilities 36,126 3,630
6 Liabilities to non-euro area residents denominated in euro 153,092 1,541
7 Liabilities to euro area residents denominated in foreign currency 1,294 −1,163
8 Liabilities to non-euro area residents denominated in foreign currency 7,724 1,717
8.1 Deposits, balances and other liabilities 7,724 1,717
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 234,510 −1,194
11 Revaluation accounts 406,635 0
12 Capital and reserves 89,754 931
Total liabilities 2,546,600 −2,849
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