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22 May 2012 - Consolidated
financial statement of
the Eurosystem as at 18
May 2012
Items not related to monetary policy operations
In the week ending 18 May 2012 the decrease of EUR 1 million in gold and gold receivables (asset item 1) mainly 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 0.2 billion to EUR 224.9 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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17 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 0.3 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 1.1 billion to EUR 324.5 billion. Banknotes in circulation (liability item 1) increased by
EUR 3.1 billion to EUR 878.3 billion. Liabilities
to general government
(liability item 5.1) increased
by EUR 14.3 billion to EUR 114 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 23.5 billion to EUR 122.3
billion. On Wednesday, 16 May 2012, a main refinancing operation of EUR 39.3 billion matured
and a new one of EUR 43 billion was settled. On the same day, fixed-term deposits in an amount of
EUR 214 billion matured and new deposits
in the same amount were collected.
Recourse to the marginal lending facility (asset item 5.5) was EUR 0.8 billion (compared with EUR 1.6 billion in the previous
week), while recourse to the deposit
facility (liability
item 2.2) was EUR 789.7 billion (compared with EUR 763.1 billion
in the preceding week).
The holdings by the
Eurosystem of securities
held for monetary policy purposes (asset item 7.1) decreased by
EUR 1.8 billion to EUR 280.2 billion. This decrease
was due to the redemption
of securities 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 18 May 2012 the value of accumulated
purchases under the
Securities Markets Programme amounted
to EUR 212.1 billion, while those
of the portfolios held under
the first and second covered bond purchase programmes totalled
EUR 56.6 billion and EUR 11.5 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 44.3 billion to EUR 102.5 billion.
Full press release here
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