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11 September
2012 - Consolidated financial
statement of the Eurosystem
as at 7 September 2012
Items not related to monetary policy operations
In the week ending 7 September 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) decreased by EUR 2.9 billion to EUR 238.9 billion on account of customer and
portfolio transactions 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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6 September
2012
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7-day US dollar liquidity-providing
reverse transaction
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USD 6.2 billion
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USD 2.2 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 0.5 billion to EUR 319.8 billion. Banknotes in circulation (liability item 1) rose by EUR 0.2 billion to EUR 896.6
billion. Liabilities to general government (liability item 5.1) decreased
by EUR 0.9 billion to EUR 87.4 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 14.3 billion to EUR 666.6
billion. On Wednesday, 5 September
2012, a main refinancing
operation of EUR 131.5 billion matured and a new one of EUR 126.3 billion was settled. On the same day, fixed-term
deposits in an amount
of EUR 209 billion matured and new deposits were collected in the same amount, with a maturity of one week.
Recourse to the marginal lending facility (asset item 5.5) was EUR 0.9 billion (compared with EUR 0.6 billion in the previous
week), while recourse to the deposit
facility (liability
item 2.2) was EUR 326.8 billion (compared with EUR 346 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 278.9 billion. This decrease
was due to the redemption
of securities under the
first covered bond purchase
programme, which more than
offset the purchases settled
under the second covered
bond purchase programme during
the week. Therefore, in
the week ending 7 September 2012, the value of accumulated
purchases under the
Securities Markets Programme amounted
to EUR 208.8 billion, while the values of the
portfolios held under the
first and second covered bond purchase
programmes totalled EUR 54.7 billion and EUR 15.4
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 8.2 billion to EUR 549.3 billion.
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