Consolidated financial statement of the Eurosystem as at 5 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

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.