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Consolidated financial statement of the Eurosystem as at 19 April 2013

23 April 2013

Items not related to monetary policy operations

In the week ending 19 April 2013 gold and gold receivables (asset item 1) and the net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) remained unchanged at EUR 435.3 billion and EUR 221.3 billion respectively. No 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 1.4 billion to EUR 347.5 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.4 billion to EUR 894.1 billion. Liabilities to general government (liability item 5.1) increased by EUR 2.3 billion to EUR 90.1 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) remained unchanged at EUR 558.2 billion. On Wednesday, 17 April 2013, a main refinancing operation of EUR 119.3 billion matured and a new one of EUR 116.4 billion was settled. On the same day, fixed-term deposits in an amount of EUR 206 billion matured and new deposits were collected in the amount of EUR 206 billion, with a maturity of one week.

During the week, EUR 10.8 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.6 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 105.6 billion (compared with EUR 119.9 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 3.4 billion to EUR 266 billion. This decrease was due to the redemption of securities acquired under the first and second covered bond purchase programmes, as well as under the Securities Markets Programme. Therefore, in the week ending 19 April 2013 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 202.7 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 46.8 billion and EUR 16.1 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 13.3 billion to EUR 329.8 billion.

Assets (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Gold and gold receivables 435,317 0
2 Claims on non-euro area residents denominated in foreign currency 253,657 −981
2.1 Receivables from the IMF 86,949 −76
2.2 Balances with banks and security investments, external loans and other external assets 166,708 −905
3 Claims on euro area residents denominated in foreign currency 34,864 352
4 Claims on non-euro area residents denominated in euro 21,216 −941
4.1 Balances with banks, security investments and loans 21,216 −941
4.2 Claims arising from the credit facility under ERM II 0 0
5 Lending to euro area credit institutions related to monetary policy operations denominated in euro 869,916 −14,295
5.1 Main refinancing operations 116,368 −2,979
5.2 Longer-term refinancing operations 753,497 −10,793
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 51 −524
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 97,728 4,464
7 Securities of euro area residents denominated in euro 613,129 −4,842
7.1 Securities held for monetary policy purposes 265,590 −3,432
7.2 Other securities 347,539 −1,410
8 General government debt denominated in euro 29,894 0
9 Other assets 261,542 −948
Total assets 2,617,263 −17,192
Liabilities (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Banknotes in circulation 894,121 −373
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 641,570 −27,497
2.1 Current accounts (covering the minimum reserve system) 329,801 −13,250
2.2 Deposit facility 105,590 −14,316
2.3 Fixed-term deposits 206,000 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 179 69
3 Other liabilities to euro area credit institutions denominated in euro 5,801 −260
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 120,665 10,459
5.1 General government 90,084 2,335
5.2 Other liabilities 30,581 8,124
6 Liabilities to non-euro area residents denominated in euro 153,854 −1,155
7 Liabilities to euro area residents denominated in foreign currency 5,598 −934
8 Liabilities to non-euro area residents denominated in foreign currency 6,494 297
8.1 Deposits, balances and other liabilities 6,494 297
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 55,145 0
10 Other liabilities 238,464 2,272
11 Revaluation accounts 406,635 0
12 Capital and reserves 88,917 0
Total liabilities 2,617,263 −17,192
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