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31 July 2012 - Consolidated
financial statement of
the Eurosystem as at 27
July 2012
Items not related to monetary policy operations
In the week ending 27 July 2012, the decrease of EUR 2 million in gold and gold receivables (asset item 1) reflected the sale of gold coin by two
Eurosystem central banks.
The net position of
the Eurosystem in foreign
currency (asset items 2
and 3 minus liability items 7, 8 and 9) increased by EUR 3.7 billion to EUR 246.7 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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26 July 2012
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7-day US dollar liquidity-providing
reverse transaction
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USD 4.2 billion
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USD 8 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 321 billion. Banknotes in circulation (liability item 1) increased by
EUR 1 billion to EUR 897.3 billion. Liabilities
to general government
(liability item 5.1) fell
by EUR 7 billion to EUR 130.3 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 21.1 billion to EUR 656.4
billion. On Wednesday, 25 July 2012, a main refinancing operation of EUR 156.8 billion matured
and a new one of EUR 130.7 billion was settled. On the same day, fixed-term deposits in an amount of
EUR 211.5 billion matured and new deposits were collected in the same amount, with a maturity of one week. On
Thursday, 26 July 2012, a longer-term refinancing operation of
EUR 16.7 billion matured and a new one of EUR 8.5
billion was settled.
Recourse to the marginal lending facility (asset item 5.5) was EUR 1.2 billion (compared with EUR 0.7 billion in the previous
week), while recourse to the deposit
facility (liability
item 2.2) was EUR 337 billion (compared
with EUR 349.4 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 280.8 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 27 July
2012, the value of accumulated purchases
under the Securities Markets
Programme amounted to EUR 211.3 billion, while the values of the portfolios held
under the first and second covered
bond purchase programmes totalled
EUR 55.1 billion and EUR 14.4 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 22.7 billion to EUR 515.7 billion.
Full press release here
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