Consolidated financial statement of the Eurosystem as at 19 November 2010


23 November 2010

Items not related to monetary policy operations

In the week ending 19 November 2010 the increase of EUR 2 million in gold and gold receivables (asset item 1) reflected the net result of trades in 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 0.1 billion to EUR 177 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
18 November 2010 8-day US dollar liquidity-providing reverse transaction USD 65 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 marketable securities other than those held for monetary policy purposes (asset item 7.2) increased by EUR 2.7 billion to EUR 317.3 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.7 billion to EUR 812.8 billion. Liabilities to general government (liability item 5.1) increased by EUR 23.5 billion to EUR 101.6 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 9.9 billion to EUR 421.6 billion. On Wednesday, 17 November 2010, a main refinancing operation of EUR 175 billion matured and a new one of EUR 186 billion was settled. Also on Wednesday, 17 November 2010, a liquidity-providing fine-tuning operation of EUR 12.6 billion, with a maturity of six days, matured. On the same day, fixed-term deposits in an amount of EUR 64 billion matured and new deposits were collected in an amount of EUR 65 billion, with a maturity of one week.

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 672.1 million to EUR 126.8 billion as a result of settled purchases of EUR 713.3 million under the Securities Markets Programme and maturing transactions of EUR 41.2 million under the covered bond purchase programme. Therefore, in the week ending 19 November 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 65.8 billion and EUR 61 billion respectively. Both portfolios are accounted for on a held-to-maturity basis.

Recourse to the marginal lending facility (asset item 5.5) was EUR 3.4 billion (compared with EUR 2.1 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 28.9 billion (compared with EUR 20.2 billion in the preceding week).

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 22.8 billion to EUR 222.2 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 2
2 Claims on non-euro area residents denominated in foreign currency 220,299 696
2.1 Receivables from the IMF 69,704 −30
2.2 Balances with banks and security investments, external loans and other external assets 150,595 726
3 Claims on euro area residents denominated in foreign currency 23,418 −407
4 Claims on non-euro area residents denominated in euro 19,708 357
4.1 Balances with banks, security investments and loans 19,708 357
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 515,548 −251
5.1 Main refinancing operations 186,033 10,999
5.2 Longer-term refinancing operations 326,098 0
5.3 Fine-tuning reverse operations 0 −12,552
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 3,415 1,303
5.6 Credits related to margin calls 2 0
6 Other claims on euro area credit institutions denominated in euro 28,794 529
7 Securities of euro area residents denominated in euro 444,025 3,334
7.1 Securities held for monetary policy purposes 126,773 672
7.2 Other securities 317,252 2,662
8 General government debt denominated in euro 34,977 0
9 Other assets 267,207 5,148
Total assets 1,888,388 9,409
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 812,762 −1,737
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 316,159 −13,162
2.1 Current accounts (covering the minimum reserve system) 222,228 −22,833
2.2 Deposit facility 28,900 8,691
2.3 Fixed-term deposits 65,000 1,000
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 30 −20
3 Other liabilities to euro area credit institutions denominated in euro 4,023 112
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 107,963 23,431
5.1 General government 101,649 23,476
5.2 Other liabilities 6,315 −44
6 Liabilities to non-euro area residents denominated in euro 40,992 217
7 Liabilities to euro area residents denominated in foreign currency 859 39
8 Liabilities to non-euro area residents denominated in foreign currency 12,242 189
8.1 Deposits, balances and other liabilities 12,242 189
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 164,794 321
11 Revaluation accounts 296,740 0
12 Capital and reserves 78,189 −2
Total liabilities 1,888,388 9,409

Media contacts