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Consolidated financial statement of the Eurosystem as at 28 January 2011

1 February 2011

Items not related to monetary policy operations

In the week ending 28 January 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) decreased by EUR 0.1 billion to EUR 182.3 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
27 January 2011 7-day US dollar liquidity-providing reverse transaction USD 70 million USD 70 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 2.2 billion to EUR 327.9 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.7 billion to EUR 821.4 billion. Liabilities to general government (liability item 5.1) increased by EUR 8.2 billion to EUR 112.1 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) increased by EUR 20.4 billion to EUR 393.8 billion. On Wednesday, 26 January 2011, a main refinancing operation of EUR 176.9 billion matured and a new one of EUR 165.6 billion was settled. On the same day, fixed-term deposits in an amount of EUR 76.5 billion matured and new deposits were collected in an amount of EUR 76.5 billion, with a maturity of one week. On Thursday, 27 January 2011, a longer-term refinancing operation of EUR 42.5 billion matured and a new one of EUR 71.1 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.1 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 24.4 billion (compared with EUR 27.5 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) remained unchanged at EUR 137.2 billion. Therefore, in the week ending 28 January 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 76.5 billion and EUR 60.8 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 2.8 billion to EUR 211.9 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 367,431 0
2 Claims on non-euro area residents denominated in foreign currency 228,283 8
2.1 Receivables from the IMF 72,887 −1
2.2 Balances with banks and security investments, external loans and other external assets 155,396 9
3 Claims on euro area residents denominated in foreign currency 26,116 602
4 Claims on non-euro area residents denominated in euro 19,177 48
4.1 Balances with banks, security investments and loans 19,177 48
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 494,825 17,311
5.1 Main refinancing operations 165,603 −11,301
5.2 Longer-term refinancing operations 329,170 28,668
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 0 −91
5.6 Credits related to margin calls 52 34
6 Other claims on euro area credit institutions denominated in euro 46,851 −2,452
7 Securities of euro area residents denominated in euro 465,126 2,146
7.1 Securities held for monetary policy purposes 137,197 −25
7.2 Other securities 327,928 2,171
8 General government debt denominated in euro 34,954 0
9 Other assets 282,804 −13,216
Total assets 1,965,568 4,446
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 821,424 −1,709
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 312,921 −350
2.1 Current accounts (covering the minimum reserve system) 211,873 2,751
2.2 Deposit facility 24,416 −3,061
2.3 Fixed-term deposits 76,500 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 132 −40
3 Other liabilities to euro area credit institutions denominated in euro 4,268 1,261
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 119,994 7,867
5.1 General government 112,120 8,203
5.2 Other liabilities 7,875 −336
6 Liabilities to non-euro area residents denominated in euro 44,556 −1,585
7 Liabilities to euro area residents denominated in foreign currency 2,861 −243
8 Liabilities to non-euro area residents denominated in foreign currency 14,691 918
8.1 Deposits, balances and other liabilities 14,691 918
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 54,552 0
10 Other liabilities 180,026 −1,711
11 Revaluation accounts 331,545 0
12 Capital and reserves 78,731 −1
Total liabilities 1,965,568 4,446
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