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Consolidated financial statement of the Eurosystem as at 5 April 2013

9 April 2013

Items not related to monetary policy operations

In the week ending 5 April 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 0.8 billion to EUR 222.3 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
4 April 2013 7-day US dollar liquidity-providing reverse transaction USD 0.5 billion USD 1.2 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 0.9 billion to EUR 349.6 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.2 billion to EUR 895.2 billion. Liabilities to general government (liability item 5.1) decreased by EUR 7.7 billion to EUR 88.6 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 3.2 billion to EUR 556.2 billion. On Wednesday, 3 April 2013, a main refinancing operation of EUR 123.2 billion matured and a new one of EUR 124.9 billion was settled. On the same day, fixed-term deposits in an amount of EUR 205.5 billion matured and new deposits were collected in the same amount, with a maturity of one week.

During the week, longer-term refinancing operations amounting to EUR 7 billion were repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 1.5 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 134.9 billion (compared with EUR 144.6 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 269.3 billion. Therefore, in the week ending 5 April 2013 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 205.9 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 47.3 billion and EUR 16.2 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 17.6 billion to EUR 336.9 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 435,316 0
2 Claims on non-euro area residents denominated in foreign currency 254,649 280
2.1 Receivables from the IMF 87,121 0
2.2 Balances with banks and security investments, external loans and other external assets 167,528 280
3 Claims on euro area residents denominated in foreign currency 34,312 2,748
4 Claims on non-euro area residents denominated in euro 21,799 −302
4.1 Balances with banks, security investments and loans 21,799 −302
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 896,763 −6,856
5.1 Main refinancing operations 124,876 1,637
5.2 Longer-term refinancing operations 771,867 −7,005
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 19 −1,488
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 90,059 1,521
7 Securities of euro area residents denominated in euro 618,953 889
7.1 Securities held for monetary policy purposes 269,340 0
7.2 Other securities 349,613 889
8 General government debt denominated in euro 29,894 0
9 Other assets 265,354 691
Total assets 2,647,097 −1,029
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 895,207 −1,150
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 677,435 7,575
2.1 Current accounts (covering the minimum reserve system) 336,912 17,637
2.2 Deposit facility 134,902 −9,746
2.3 Fixed-term deposits 205,500 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 120 −316
3 Other liabilities to euro area credit institutions denominated in euro 6,332 −200
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 110,740 −9,856
5.1 General government 88,555 −7,696
5.2 Other liabilities 22,185 −2,160
6 Liabilities to non-euro area residents denominated in euro 158,748 1,096
7 Liabilities to euro area residents denominated in foreign currency 4,542 460
8 Liabilities to non-euro area residents denominated in foreign currency 6,990 1,720
8.1 Deposits, balances and other liabilities 6,990 1,720
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 236,404 −674
11 Revaluation accounts 406,639 0
12 Capital and reserves 88,917 0
Total liabilities 2,647,097 −1,029
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