Consolidated financial statement of the Eurosystem as at 3 February 2012
Items not related to monetary policy operations
In the week ending 3 February 2012 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 4 billion to EUR 277.4 billion on account of customer and portfolio transactions and US dollar liquidity-providing operations (see below).
| Value date | Type of transaction | Maturing amount | New amount |
| 2 February 2012 | 7-day US dollar liquidity-providing reverse transaction | USD 7.9 billion | USD 3.7 billion |
| 2 February 2012 | 84-day US dollar liquidity-providing reverse transaction | - | USD 9.4 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) decreased by EUR 1.6 billion to EUR 340.7 billion. Banknotes in circulation (liability item 1) increased by EUR 2.3 billion to EUR 871.5 billion. Liabilities to general government (liability item 5.1) fell by EUR 42.3 billion to EUR 83.6 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) decreased by EUR 36.7 billion to EUR 63.7 billion. On Wednesday, 1 February 2012, a main refinancing operation of EUR 130.3 billion matured and a new one of EUR 115.6 billion was settled. On the same day, fixed-term deposits in an amount of EUR 219 billion matured and new deposits were collected in an amount of EUR 219 billion.
Recourse to the marginal lending facility (asset item 5.5) was EUR 2.8 billion (compared with EUR 2.4 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 511.4 billion (compared with EUR 488.9 billion in the preceding week).
The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) remained virtually unchanged at EUR 282.5 billion. This was due to the redemption of securities under the first covered bond purchase programme offsetting the settled purchases under the Securities Markets Programme and the second covered bond purchase programme. Therefore, in the week ending 3 February 2012 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 219.2 billion, while those of the portfolios held under the first and second covered bond purchase programmes totalled EUR 57.8 billion and EUR 5.6 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 5 billion to EUR 83.9 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 | 423,446 | 0 | |
| 2 | Claims on non-euro area residents denominated in foreign currency | 246,012 | 1,041 | |
| 2.1 | Receivables from the IMF | 85,710 | 38 | |
| 2.2 | Balances with banks and security investments, external loans and other external assets | 160,302 | 1,004 | |
| 3 | Claims on euro area residents denominated in foreign currency | 100,434 | 3,762 | |
| 4 | Claims on non-euro area residents denominated in euro | 24,180 | −828 | |
| 4.1 | Balances with banks, security investments and loans | 24,180 | −828 | |
| 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 | 794,978 | −14,269 | |
| 5.1 | Main refinancing operations | 115,579 | −14,738 | |
| 5.2 | Longer-term refinancing operations | 676,505 | 0 | |
| 5.3 | Fine-tuning reverse operations | 0 | 0 | |
| 5.4 | Structural reverse operations | 0 | 0 | |
| 5.5 | Marginal lending facility | 2,799 | 433 | |
| 5.6 | Credits related to margin calls | 94 | 35 | |
| 6 | Other claims on euro area credit institutions denominated in euro | 73,319 | 1,027 | |
| 7 | Securities of euro area residents denominated in euro | 623,229 | −1,620 | |
| 7.1 | Securities held for monetary policy purposes | 282,541 | −38 | |
| 7.2 | Other securities | 340,688 | −1,582 | |
| 8 | General government debt denominated in euro | 31,176 | −2,750 | |
| 9 | Other assets | 345,352 | −6,812 | |
| Total assets | 2,662,126 | −20,450 | ||
| 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 | 871,508 | 2,341 | |
| 2 | Liabilities to euro area credit institutions related to monetary policy operations denominated in euro | 815,235 | 17,367 | |
| 2.1 | Current accounts (covering the minimum reserve system) | 83,915 | −5,024 | |
| 2.2 | Deposit facility | 511,438 | 22,554 | |
| 2.3 | Fixed-term deposits | 219,000 | 0 | |
| 2.4 | Fine-tuning reverse operations | 0 | 0 | |
| 2.5 | Deposits related to margin calls | 882 | −163 | |
| 3 | Other liabilities to euro area credit institutions denominated in euro | 2,017 | 341 | |
| 4 | Debt certificates issued | 0 | 0 | |
| 5 | Liabilities to other euro area residents denominated in euro | 93,804 | −42,310 | |
| 5.1 | General government | 83,605 | −42,317 | |
| 5.2 | Other liabilities | 10,200 | 7 | |
| 6 | Liabilities to non-euro area residents denominated in euro | 122,474 | 3,918 | |
| 7 | Liabilities to euro area residents denominated in foreign currency | 3,541 | 696 | |
| 8 | Liabilities to non-euro area residents denominated in foreign currency | 9,584 | 61 | |
| 8.1 | Deposits, balances and other liabilities | 9,584 | 61 | |
| 8.2 | Liabilities arising from the credit facility under ERM II | 0 | 0 | |
| 9 | Counterpart of special drawing rights allocated by the IMF | 55,942 | 0 | |
| 10 | Other liabilities | 212,116 | −3,183 | |
| 11 | Revaluation accounts | 394,028 | 0 | |
| 12 | Capital and reserves | 81,877 | 318 | |
| Total liabilities | 2,662,126 | −20,450 | ||
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