Consolidated financial statement of the Eurosystem as at 21 May 2010
Items not related to monetary policy operations
In the week ending 21 May 2010 the net decrease of EUR 2 million in gold and gold receivables (asset item 1) reflected the trading of gold coin by two Eurosystem central banks.
The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 6.8 billion to EUR 173.5 billion on account of customer and portfolio transactions and US dollar liquidity-providing operations (see below).
US dollar liquidity-providing transactions
On 20 May 2010, an eight-day operation of USD 9.2 billion matured. On the same date, an 84-day operation of USD 1 billion was settled. This operation was conducted by the Eurosystem in connection with the temporary reciprocal currency arrangements (swap line) that the European Central Bank (ECB) has established with the Federal Reserve System.
|Value date||Type of transaction||Maturing amount||New amount|
|20 May 2010||8-day US dollar liquidity-providing reverse transaction||USD 9.2 billion|
|84-day US dollar liquidity-providing reverse transaction||USD 1 billion|
The holdings by the Eurosystem of securities other than those held for monetary policy purposes (asset item 7.2) decreased by EUR 1.3 billion to EUR 307.3 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.5 billion to EUR 804.6 billion. Liabilities to general government (liability item 5.1) increased by EUR 9.1 billion to EUR 118.3 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 39.3 billion to EUR 541.7 billion. On Wednesday, 19 May 2010, a main refinancing operation of EUR 99.6 billion matured and a new one of EUR 104.8 billion was settled. On the same date, deposits with a maturity of one week were collected in an amount of EUR 16.5 billion.
Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.2 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 253.5 billion (compared with EUR 225.6 billion in the preceding week).
The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 11.1 billion to EUR 79.8 billion as a result of settled purchases of EUR 10.4 billion under the Securities Markets Programme and of EUR 0.7 billion under the euro-denominated covered bond purchase programme.
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 55.6 billion to EUR 246.2 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||286,696||−2|
|2||Claims on non-euro area residents denominated in foreign currency||211,749||−3,212|
|2.1||Receivables from the IMF||69,602||−58|
|2.2||Balances with banks and security investments, external loans and other external assets||142,147||−3,154|
|3||Claims on euro area residents denominated in foreign currency||29,798||−5,376|
|4||Claims on non-euro area residents denominated in euro||19,267||2,821|
|4.1||Balances with banks, security investments and loans||19,267||2,821|
|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||811,688||5,026|
|5.1||Main refinancing operations||104,752||5,182|
|5.2||Longer-term refinancing operations||706,881||1|
|5.3||Fine-tuning reverse operations||0||0|
|5.4||Structural reverse operations||0||0|
|5.5||Marginal lending facility||13||−154|
|5.6||Credits related to margin calls||42||−3|
|6||Other claims on euro area credit institutions denominated in euro||39,861||3,173|
|7||Securities of euro area residents denominated in euro||387,114||9,803|
|7.1||Securities held for monetary policy purposes||79,797||11,105|
|8||General government debt denominated in euro||35,582||5|
|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||804,587||−453|
|2||Liabilities to euro area credit institutions related to monetary policy operations denominated in euro||516,213||−11,199|
|2.1||Current accounts (covering the minimum reserve system)||246,239||−55,562|
|2.4||Fine-tuning reverse operations||0||0|
|2.5||Deposits related to margin calls||5||0|
|3||Other liabilities to euro area credit institutions denominated in euro||390||−182|
|4||Debt certificates issued||0||0|
|5||Liabilities to other euro area residents denominated in euro||126,471||9,233|
|6||Liabilities to non-euro area residents denominated in euro||59,248||13,685|
|7||Liabilities to euro area residents denominated in foreign currency||2,383||−1,063|
|8||Liabilities to non-euro area residents denominated in foreign currency||12,619||−765|
|8.1||Deposits, balances and other liabilities||12,619||−765|
|8.2||Liabilities arising from the credit facility under ERM II||0||0|
|9||Counterpart of special drawing rights allocated by the IMF||53,033||0|
|12||Capital and reserves||76,657||0|