Consolidated financial statement of the Eurosystem as at 4 November 2011

8 November 2011

Items not related to monetary policy operations

In the week ending 4 November 2011 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 0.5 billion to EUR 193 billion on account of customer and portfolio transactions and US dollar liquidity-providing operations (see below).

US dollar liquidity operations
Value date Type of transaction Maturing amount New amount
3 November 2011 7-day US dollar liquidity-providing reverse transaction USD 0.5 billion USD 0.5 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 2.5 billion to EUR 336.2 billion. Banknotes in circulation (liability item 1) increased by EUR 4 billion to EUR 867.1 billion. Liabilities to general government (liability item 5.1) decreased by EUR 15.8 billion to EUR 51 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 64.2 billion to EUR 114.3 billion. On Tuesday, 1 November 2011, a main refinancing operation of EUR 197.4 billion matured and a new one of EUR 182.8 billion was settled. On the same day, fixed-term deposits in an amount of EUR 169.5 billion matured and new deposits were collected in an amount of EUR 173.5 billion, with a maturity of eight days.

Recourse to the marginal lending facility (asset item 5.5) was EUR 1.2 billion (compared with EUR 2.9 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 288.4 billion (compared with EUR 248.1 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 9.5 billion to EUR 242.2 billion. This increase was due to settled purchases of securities under the Securities Markets Programme. Therefore, in the week ending 4 November 2011 the value of accumulated purchases under the Securities Markets Programme and that of the portfolio held under the covered bond purchase programme totalled EUR 183 billion and EUR 59.2 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) decreased by EUR 43.4 billion to EUR 135.3 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 419,825 0
2 Claims on non-euro area residents denominated in foreign currency 229,751 1,260
2.1 Receivables from the IMF 80,270 −136
2.2 Balances with banks and security investments, external loans and other external assets 149,481 1,396
3 Claims on euro area residents denominated in foreign currency 31,845 −839
4 Claims on non-euro area residents denominated in euro 27,256 542
4.1 Balances with banks, security investments and loans 27,256 542
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 580,036 −16,407
5.1 Main refinancing operations 182,773 −14,665
5.2 Longer-term refinancing operations 395,996 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 1,237 −1,614
5.6 Credits related to margin calls 29 −127
6 Other claims on euro area credit institutions denominated in euro 85,528 530
7 Securities of euro area residents denominated in euro 578,388 7,049
7.1 Securities held for monetary policy purposes 242,225 9,520
7.2 Other securities 336,163 −2,471
8 General government debt denominated in euro 33,966 0
9 Other assets 341,958 3,046
Total assets 2,328,553 −4,820
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 867,080 3,958
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 600,974 4,387
2.1 Current accounts (covering the minimum reserve system) 135,280 −43,424
2.2 Deposit facility 288,429 40,372
2.3 Fixed-term deposits 173,500 4,000
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 3,766 3,439
3 Other liabilities to euro area credit institutions denominated in euro 4,092 629
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 58,714 −16,358
5.1 General government 50,978 −15,807
5.2 Other liabilities 7,736 −551
6 Liabilities to non-euro area residents denominated in euro 49,435 −125
7 Liabilities to euro area residents denominated in foreign currency 2,657 −143
8 Liabilities to non-euro area residents denominated in foreign currency 11,483 97
8.1 Deposits, balances and other liabilities 11,483 97
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 54,486 0
10 Other liabilities 214,875 2,735
11 Revaluation accounts 383,276 0
12 Capital and reserves 81,481 0
Total liabilities 2,328,553 −4,820

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