2012 - Consolidated financial
statement of the Eurosystem
as at 15 June 2012
Items not related to monetary policy operations
In the week ending 15 June 2012 the decrease of EUR 1
million in gold and gold receivables (asset item 1) reflected the
sale of gold coin 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 2 billion to EUR 226.9 billion on account of customer and
portfolio transactions and US dollar liquidity-providing
operations (see below).
US dollar liquidity operations
Type of transaction
7-day US dollar liquidity-providing
USD 1.5 billion
USD 2.4 billion
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 1.3 billion to EUR 323.1 billion. Banknotes in circulation (liability item 1) increased by
EUR 2.9 billion to EUR 891.5 billion. Liabilities
to general government
(liability item 5.1) fell
by EUR 6.1 billion to EUR 107.7 billion.
Items related to monetary
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 68.1 billion to EUR 251.9
billion. On Wednesday, 13 June
2012, a main refinancing
operation of EUR 119.4 billion matured and a new one of EUR 131.7 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.
Also on Wednesday, 13 June 2012, a longer-term refinancing operation of
EUR 11 billion matured and a new one of EUR 18.9
billion was settled.
Recourse to the marginal lending facility (asset item 5.5) was EUR 3 billion (compared with EUR 1.9 billion in the previous
week), while recourse to the deposit
item 2.2) was EUR 741.2 billion (compared with EUR 788.2 billion
in the preceding week).
The holdings by the
Eurosystem of securities
held for monetary policy purposes (asset item 7.1) decreased by
EUR 1 billion to EUR 280.2 billion. This decrease was due to the redemption of securities purchased under the Securities Markets
Programme, which more than
offset the purchases settled
under the second covered
bond purchase programme during
the week. Therefore, in
the week ending 15 June 2012 the value of accumulated
purchases under the
Securities Markets Programme amounted
to EUR 210.7 billion, while the values of the
portfolios held under the
first and second covered bond purchase
programmes totalled EUR 56.3 billion and EUR 13.2
billion respectively. All three
portfolios are accounted for on a held-to-maturity basis.
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 63.8 billion to EUR 150.9 billion.
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