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Items not related
to monetary policy operations
In the week ending 7 December 2012 the increase of
EUR 2 million in gold and gold receivables (asset item 1) reflected the purchase of gold by Eurosystem
central banks.
The net position of
the Eurosystem in foreign
currency (asset items 2
and 3 minus liability items 7, 8 and 9) remained unchanged at EUR 229 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 December
2012
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7-day US dollar liquidity-providing
reverse transaction
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USD 3.2 billion
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USD 4.1 billion
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6 December
2012
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84-day US dollar liquidity-providing reverse transaction
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USD 4.1 billion
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USD 3 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 0.2 billion to EUR 308.9 billion. Banknotes in circulation (liability item 1) increased by
EUR 6.1 billion to EUR 895.8 billion. Liabilities
to general government
(liability item 5.1) decreased
by EUR 10.5 billion to EUR 122.7 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 2.7 billion to EUR 666.9
billion. On Wednesday, 5 December
2012, a main refinancing
operation of EUR 74.6 billion matured and a new one of EUR 70.8 billion was settled. On the same day, fixed-term
deposits in an amount
of EUR 208.5 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 0.6 billion (compared with EUR 1.9 billion in the previous
week), while recourse to the deposit
facility (liability item
2.2) was EUR 235.3 billion (compared
with EUR 237.8 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 277.1 billion.
Therefore, in the week ending 7 December 2012, the
value of accumulated purchases
under the Securities Markets
Programme amounted to EUR 208.5 billion, while the value of the portfolios held
under the first and second covered
bond purchase programmes totalled
EUR 52.1 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) decreased
by EUR 3 billion to EUR 486.9 billion.
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