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9 January
2013 - Consolidated financial
statement of the Eurosystem
as at 4 January 2013
Items not related to monetary policy operations
In the week ending 4 January 2013 the decrease of
EUR 40.4 billion in gold and gold receivables
(asset item 1) reflected quarterly revaluation adjustments.
The net position of
the Eurosystem in foreign
currency (asset items 2
and 3 minus liability items 7, 8 and 9) decreased by EUR 7.5 billion to EUR 218.8 billion. This
change was due to the effects
of the quarterly revaluation
of assets and liabilities,
the customer and portfolio transactions carried out by Eurosystem
central banks during the period under review and US dollar liquidity-providing
operations (see below).
US dollar liquidity operations
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Value date
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Type of transaction
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Maturing amount
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New amount
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3 January
2013
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14-day US dollar liquidity-providing reverse transaction
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USD 0.6 billion
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3 January
2013
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7-day US dollar liquidity-providing
reverse transaction
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USD 1 billion
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3 January
2013
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84-day US dollar liquidity providing reverse
transactions
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USD 1.1 billion
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USD 0.9 billion
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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 0.3 billion to EUR 308 billion. Banknotes in circulation (liability item 1) fell by EUR
9.3 billion to EUR 904.4 billion. Liabilities
to general government
(liability item 5.1) decreased
by EUR 11.4 billion to EUR 96.9 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 13.8 billion to EUR 655.3
billion. On Thursday, 3 January 2013, a main refinancing operation of EUR 89.7 billion matured
and a new one of EUR 81.1 billion was settled. On the same day, fixed-term deposits in an amount of
EUR 197.6 billion matured and new deposits were collected in the amount of EUR
208.5 billion, with a maturity
of six days.
Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with EUR 3.2 billion in the previous
week), while recourse to the deposit
facility (liability
item 2.2) was EUR 252.6 billion (compared with EUR 261.7 billion
in the preceding week).
The holdings by the
Eurosystem of securities
held for monetary policy purposes (asset item 7.1) increased marginally by EUR 0.1 billion to EUR 276.9 billion due to
quarter-end adjustments. Therefore,
in the week ending 4 January 2013 the value of accumulated
purchases under the
Securities Markets Programme amounted
to EUR 208.7 billion, while those
of the portfolios held under
the first and second covered bond purchase programmes totalled
EUR 51.8 billion and EUR 16.4 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 6.2 billion to EUR 462.3 billion.
Quarter-end revaluation of the Eurosystem’s assets and liabilities
In line with the Eurosystem’s harmonised accounting rules, gold, foreign exchange, securities holdings and financial
instruments of the Eurosystem are revalued at market
rates and prices as at
the end of each quarter. The net impact of the revaluation on each balance sheet item as at 31 December 2012 is shown in the additional column “Difference
compared with last week due to quarter-end adjustments”.
The gold price and the principal exchange rates used for the revaluation of
balances were as follows:
Gold: EUR 1,261.179
per fine oz.
USD: 1.3194 per EUR
JPY: 113.61 per EUR
Special drawing rights:
EUR 1.1657 per SDR
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