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Consolidated financial statement of the Eurosystem as at 2 September 2011

6 September 2011

Items not related to monetary policy operations

In the week ending 2 September 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 0.2 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 0.5 billion to EUR 334.5 billion. Banknotes in circulation (liability item 1) increased by EUR 2.8 billion to EUR 853.0 billion. Liabilities to general government (liability item 5.1) decreased by EUR 17.6 billion to EUR 44.9 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 43.4 billion to EUR 246.5 billion. On Wednesday, 31 August 2011, a main refinancing operation of EUR 133.7 billion matured and a new one of EUR 121.7 billion was settled. On the same day, fixed-term deposits in an amount of EUR 110.5 billion matured and new deposits were collected in an amount of EUR 115.5 billion, with a maturity of one week. On Thursday, 1 September 2011, a longer-term refinancing operation of EUR 48.1 billion matured and a new one of EUR 49.4 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (similar to the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 151.1 billion (compared with EUR 121.2 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 13.3 billion to EUR 188.6 billion. This increase was due to the net result of settled purchases under the Securities Markets Programme and the redemption of securities under the covered bond purchase programme. Therefore, in the week ending 2 September 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 128.9 billion and EUR 59.7 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 17.3 billion to EUR 179.7 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 363,248 0
2 Claims on non-euro area residents denominated in foreign currency 214,286 −649
2.1 Receivables from the IMF 75,959 0
2.2 Balances with banks and security investments, external loans and other external assets 138,327 −649
3 Claims on euro area residents denominated in foreign currency 28,402 502
4 Claims on non-euro area residents denominated in euro 18,869 118
4.1 Balances with banks, security investments and loans 18,869 118
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 513,772 −10,809
5.1 Main refinancing operations 121,669 −12,005
5.2 Longer-term refinancing operations 392,055 1,225
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 14 14
5.6 Credits related to margin calls 33 −43
6 Other claims on euro area credit institutions denominated in euro 50,065 237
7 Securities of euro area residents denominated in euro 523,034 12,709
7.1 Securities held for monetary policy purposes 188,564 13,255
7.2 Other securities 334,470 −546
8 General government debt denominated in euro 33,944 0
9 Other assets 327,503 −619
Total assets 2,073,122 1,489
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 852,975 2,786
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 446,983 15,297
2.1 Current accounts (covering the minimum reserve system) 179,746 −17,252
2.2 Deposit facility 151,097 29,906
2.3 Fixed-term deposits 115,500 5,000
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 640 −2,358
3 Other liabilities to euro area credit institutions denominated in euro 4,225 −435
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 53,348 −17,562
5.1 General government 44,895 −17,632
5.2 Other liabilities 8,452 70
6 Liabilities to non-euro area residents denominated in euro 43,695 −902
7 Liabilities to euro area residents denominated in foreign currency 2,692 608
8 Liabilities to non-euro area residents denominated in foreign currency 11,228 −545
8.1 Deposits, balances and other liabilities 11,228 −545
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 52,170 0
10 Other liabilities 207,668 2,242
11 Revaluation accounts 316,657 0
12 Capital and reserves 81,481 0
Total liabilities 2,073,122 1,489
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