Consolidated financial statement of the Eurosystem as at 22 October 2010

26 October 2010

Items not related to monetary policy operations

In the week ending 22 October 2010 gold and gold receivables (asset item 1) remained unchanged.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) increased by EUR 0.1 billion to EUR 176.9 billion on account of customer and portfolio transactions and US dollar liquidity-providing operations (see below).

Extraordinary operations
Value date Type of transaction Maturing amount New amount
21 October 2010 7-day US dollar liquidity-providing reverse transaction USD 560 million USD 60 million

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 securities other than those held for monetary policy purposes (asset item 7.2) increased by EUR 0.7 billion to EUR 311.3 billion. Banknotes in circulation (liability item 1) decreased by EUR 2.8 billion to EUR 811.2 billion. Liabilities to general government (liability item 5.1) rose by EUR 9.2 billion to EUR 95.2 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) increased by EUR 7.7 billion to EUR 426.8 billion. On Wednesday, 20 October 2010, a main refinancing operation of EUR 186 billion matured and a new one of EUR 184 billion was settled. On the same day, fixed-term deposits in an amount of EUR 63.5 billion matured and new deposits were collected in an amount of EUR 63.5 billion, with a maturity of one week.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.9 billion (compared with EUR 1.4 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 25.7 billion (compared with EUR 35.8 billion in the preceding week).

Since there were no new settled purchases under the Securities Markets Programme during the course of the week, the holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) remained unchanged at EUR 124.3 billion. As a result, in the week ending 22 October 2010 the value of the accumulated purchases under the Securities Markets Programme and that of the portfolio held under the covered bond purchase programme totalled EUR 63.3 billion and EUR 61 billion respectively. Both 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 1.8 billion to EUR 230.5 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 334,412 0
2 Claims on non-euro area residents denominated in foreign currency 219,807 −87
2.1 Receivables from the IMF 69,958 −29
2.2 Balances with banks and security investments, external loans and other external assets 149,849 −58
3 Claims on euro area residents denominated in foreign currency 23,801 −401
4 Claims on non-euro area residents denominated in euro 17,916 753
4.1 Balances with banks, security investments and loans 17,916 753
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 516,058 −2,466
5.1 Main refinancing operations 184,029 −1,955
5.2 Longer-term refinancing operations 331,077 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 937 −505
5.6 Credits related to margin calls 16 −6
6 Other claims on euro area credit institutions denominated in euro 30,683 807
7 Securities of euro area residents denominated in euro 435,573 718
7.1 Securities held for monetary policy purposes 124,317 0
7.2 Other securities 311,257 718
8 General government debt denominated in euro 34,975 0
9 Other assets 264,737 1,694
Total assets 1,877,963 1,017
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 811,188 −2,802
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 319,709 −8,315
2.1 Current accounts (covering the minimum reserve system) 230,495 1,812
2.2 Deposit facility 25,657 −10,124
2.3 Fixed-term deposits 63,500 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 56 −2
3 Other liabilities to euro area credit institutions denominated in euro 577 −144
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 101,509 9,338
5.1 General government 95,180 9,161
5.2 Other liabilities 6,329 177
6 Liabilities to non-euro area residents denominated in euro 41,521 −885
7 Liabilities to euro area residents denominated in foreign currency 2,124 1,245
8 Liabilities to non-euro area residents denominated in foreign currency 10,942 −1,878
8.1 Deposits, balances and other liabilities 10,942 −1,878
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 53,665 0
10 Other liabilities 161,797 4,457
11 Revaluation accounts 296,740 0
12 Capital and reserves 78,191 0
Total liabilities 1,877,963 1,017

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