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Consolidated financial statement of the Eurosystem as at 15 April 2011

19 April 2011

Items not related to monetary policy operations

In the week ending 15 April 2011 the increase of EUR 3 million in gold and gold receivables (asset item 1) reflected the purchase of gold by one Eurosystem central bank (consistent with the Central Bank Gold Agreement that came into effect on 27 September 2009).

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) increased by EUR 0.6 billion to EUR 176.6 billion on account of customer and portfolio transactions.

The holdings by the Eurosystem of marketable securities other than those held for monetary policy purposes (asset item 7.2) decreased by EUR 0.3 billion to EUR 333.8 billion. Banknotes in circulation (liability item 1) increased by EUR 2.4 billion to EUR 830.9 billion. Liabilities to general government (liability item 5.1) decreased by EUR 2.8 billion to EUR 57.8 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 31.2 billion to EUR 331.3 billion. On Wednesday, 13 April 2011, a main refinancing operation of EUR 84.5 billion matured and a new one of EUR 94.1 billion was settled. On the same day, a longer-term refinancing operation of EUR 82.5 billion matured and a new one of EUR 83.7 billion was settled. Also on Wednesday, 13 April 2011, fixed-term deposits in an amount of EUR 77 billion matured and new deposits were collected in an amount of EUR 77 billion, with a maturity of one week.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (approximately the same as in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 10 billion (compared with EUR 30.5 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.9 billion to EUR 136.6 billion. This decrease was due to securities purchased under the Securities Markets Programme and the covered bond purchase programme reaching maturity. Therefore, in the week ending 15 April 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 76.1 billion and EUR 60.5 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 33.9 billion to EUR 222.4 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 350,672 3
2 Claims on non-euro area residents denominated in foreign currency 219,274 −352
2.1 Receivables from the IMF 74,244 45
2.2 Balances with banks and security investments, external loans and other external assets 145,030 −396
3 Claims on euro area residents denominated in foreign currency 23,603 −601
4 Claims on non-euro area residents denominated in euro 24,895 1,801
4.1 Balances with banks, security investments and loans 24,895 1,801
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 418,409 10,750
5.1 Main refinancing operations 94,134 9,600
5.2 Longer-term refinancing operations 324,042 1,187
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 201 −48
5.6 Credits related to margin calls 33 10
6 Other claims on euro area credit institutions denominated in euro 43,458 −1,173
7 Securities of euro area residents denominated in euro 470,422 −1,205
7.1 Securities held for monetary policy purposes 136,598 −915
7.2 Other securities 333,823 −290
8 General government debt denominated in euro 35,085 0
9 Other assets 299,200 2,683
Total assets 1,885,017 11,906
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 830,940 2,417
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 309,573 13,390
2.1 Current accounts (covering the minimum reserve system) 222,427 33,850
2.2 Deposit facility 9,999 −20,523
2.3 Fixed-term deposits 77,000 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 147 63
3 Other liabilities to euro area credit institutions denominated in euro 5,148 −84
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 65,556 −2,822
5.1 General government 57,799 −2,826
5.2 Other liabilities 7,757 4
6 Liabilities to non-euro area residents denominated in euro 41,466 −269
7 Liabilities to euro area residents denominated in foreign currency 950 −189
8 Liabilities to non-euro area residents denominated in foreign currency 12,687 −1,354
8.1 Deposits, balances and other liabilities 12,687 −1,354
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 52,613 0
10 Other liabilities 178,814 817
11 Revaluation accounts 305,890 0
12 Capital and reserves 81,379 0
Total liabilities 1,885,017 11,906
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