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Consolidated financial statement of the Eurosystem as at 22 March 2013

26 March 2013

Items not related to monetary policy operations

In the week ending 22 March 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 0.1 billion to EUR 217.7 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
21 March 2013 7-day US dollar liquidity-providing reverse transaction - USD 0.3 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 0.6 billion to EUR 337.3 billion. Banknotes in circulation (liability item 1) increased by EUR 1.7 billion to EUR 884.5 billion. Liabilities to general government (liability item 5.1) increased by EUR 10.4 billion to EUR 91.9 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 8.4 billion to EUR 573.1 billion. On Wednesday, 20 March 2013, a main refinancing operation of EUR 127.3 billion matured and a new one of EUR 119.4 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 6.8 billion were repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (compared with virtually nil in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 126.8 billion (compared with EUR 132.6 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.1 billion to EUR 269.1 billion. This decrease was due to the redemption of securities acquired under the first covered bond purchase programme. Therefore, in the week ending 22 March 2013, the value of accumulated purchases under the Securities Markets Programme amounted to EUR 205.3 billion, while the value of the portfolios held under the first and second covered bond purchase programmes totalled EUR 47.7 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) decreased by EUR 14.8 billion to EUR 351.7 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 438,692 0
2 Claims on non-euro area residents denominated in foreign currency 251,584 167
2.1 Receivables from the IMF 86,464 −84
2.2 Balances with banks and security investments, external loans and other external assets 165,120 251
3 Claims on euro area residents denominated in foreign currency 30,006 1,312
4 Claims on non-euro area residents denominated in euro 22,998 909
4.1 Balances with banks, security investments and loans 22,998 909
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 906,244 −14,547
5.1 Main refinancing operations 119,375 −7,930
5.2 Longer-term refinancing operations 786,657 −6,817
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 212 200
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 80,028 9,865
7 Securities of euro area residents denominated in euro 606,363 504
7.1 Securities held for monetary policy purposes 269,092 −80
7.2 Other securities 337,272 584
8 General government debt denominated in euro 29,912 0
9 Other assets 276,873 −3,355
Total assets 2,642,700 −5,143
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 884,535 1,707
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 684,828 −20,936
2.1 Current accounts (covering the minimum reserve system) 351,673 −14,837
2.2 Deposit facility 126,755 −5,879
2.3 Fixed-term deposits 205,500 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 900 −221
3 Other liabilities to euro area credit institutions denominated in euro 5,906 −652
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 114,175 5,822
5.1 General government 91,866 10,412
5.2 Other liabilities 22,309 −4,591
6 Liabilities to non-euro area residents denominated in euro 162,001 4,270
7 Liabilities to euro area residents denominated in foreign currency 2,774 1,189
8 Liabilities to non-euro area residents denominated in foreign currency 6,178 355
8.1 Deposits, balances and other liabilities 6,178 355
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 231,745 3,100
11 Revaluation accounts 407,378 0
12 Capital and reserves 88,227 2
Total liabilities 2,642,700 −5,143
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