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2 January
2013 - Consolidated financial
statement of the Eurosystem
as at 28 December 2012
Items not related to monetary policy operations
In the week ending 28 December 2012 the increase of
EUR 1 million in gold and gold receivables (asset item 1) reflected the purchase of gold by one Eurosystem
central bank.
The net position of
the Eurosystem in foreign
currency (asset items 2
and 3 minus liability items 7, 8 and 9) increased by EUR 0.3 billion to EUR 226.4 billion on account of customer and
portfolio transactions.
The holdings by the
Eurosystem of marketable
securities other than those held
for monetary policy purposes (asset item 7.2) decreased by EUR 0.1 billion to EUR 308.3 billion. Banknotes in circulation (liability item 1) increased by
EUR 2.9 billion to EUR 913.7 billion. Liabilities
to general government
(liability item 5.1) increased
by EUR 2.3 billion to EUR 108.2 billion.
On 16 December 2010 the ECB announced
that its subscribed capital would be increased by EUR 5 billion with effect from
29 December 2010. To smooth
the transfer of the capital payments
to the ECB, the euro area national central banks would pay their
additional capital contribution of EUR 3.5 billion
in three annual instalments. The first two instalments of EUR 1.2 billion each
were paid at the end of 2010 and 2011, and the final instalment of EUR 1.2 billion was
paid on 27 December 2012.
This payment gave rise to
intra-Eurosystem balances, but, since
such balances are always eliminated through the
consolidation process, no change owing to this capital increase is shown
under capital and reserves
(liability item 12) in the Eurosystem’s
consolidated financial statement. However, the capital
increase will be reflected in the ECB’s annual accounts.
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 15 billion to EUR 669 billion.
On Friday, 28 December 2012, a
main refinancing operation
of EUR 72.7 billion matured and a new one of EUR
89.7 billion, with a maturity
of six days, 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 amount of EUR
197.6 billion, with a maturity
of six days.
Recourse to the marginal lending facility (asset item 5.5) was EUR 3.4 billion (compared with EUR 13.9 billion in the previous
week), while recourse to the deposit
facility (liability
item 2.2) was EUR 261.7 billion (compared with EUR 229.4 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 276.8 billion.
Therefore, in the week ending 28 December 2012, the
value of accumulated purchases
under the Securities Markets
Programme amounted to EUR 208.3 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 33.6 billion to EUR 456.1 billion.
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