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5 June 2012
- Consolidated financial statement of the Eurosystem as at 1 June 2012
Items not related to monetary policy operations
In the week ending 1 June 2012 the decrease of EUR 1
million in gold and gold receivables (asset item 1) mainly reflected the sale of gold coin by three
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 0.7 billion to EUR 223.2 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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31 May 2012
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7-day US dollar liquidity-providing
reverse transaction
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USD 0.3 billion
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USD 0.5 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 324.3 billion. Banknotes in circulation (liability item 1) increased by
EUR 5.1 billion to EUR 884.9 billion. Liabilities
to general government
(liability item 5.1) fell
by EUR 24.9 billion to EUR 118.1 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 11.2 billion to EUR 117.8
billion. On Wednesday, 30 May 2012, a main refinancing operation of EUR 37.9 billion matured
and a new one of EUR 51.2 billion was settled. On the same day, fixed-term deposits in an amount of
EUR 212 billion matured and new deposits
in the same amount were collected. During the week a longer-term refinancing operation of
EUR 6.5 billion matured and a new one of EUR 8.3
billion was settled.
Recourse to the marginal lending facility (asset item 5.5) was EUR 0.7 billion (compared with EUR 2.1 billion in the previous
week), while recourse to the deposit
facility (liability
item 2.2) was EUR 785 billion (compared
with EUR 760.1 billion in the preceding
week).
The holdings by the
Eurosystem of securities
held for monetary policy purposes (asset item 7.1) increased by
EUR 0.3 billion to EUR 280.8 billion. This increase
was due to purchases under the second covered bond purchase programme, which more than offset the redemption of securities purchased under the first covered bond purchase programme. Therefore,
in the week ending 1 June 2012 the value of accumulated
purchases under the
Securities Markets Programme amounted
to EUR 212.1 billion, while the values of the
portfolios held under the
first and second covered bond purchase
programmes totalled EUR 56.4 billion and EUR 12.4
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 4 billion to EUR 94 billion.
Full press release here
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