Consolidated financial statement of the Eurosystem as at 20 August 2010

24 August 2010

Items not related to monetary policy operations

In the week ending 20 August 2010 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 191.2 billion on account of customer and portfolio transactions and US dollar liquidity-providing transactions (see below).

Extraordinary transactions
Value date Type of transaction Maturing amount New amount
19 August 2010 7-day US dollar liquidity-providing reverse transaction USD 0.4 billion USD 0.04 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 securities other than those held for monetary policy purposes (asset item 7.2) increased by EUR 0.2 billion to EUR 298.5 billion. Banknotes in circulation (liability item 1) decreased by EUR 4.2 billion to EUR 815.7 billion. Liabilities to general government (liability item 5.1) increased by EUR 5.8 billion to EUR 79 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 17.1 billion to EUR 452.6 billion. On Wednesday, 18 August 2010, a main refinancing operation of EUR 153.7 billion matured and a new one of EUR 155.2 billion was settled. On the same date, fixed-term deposits in an amount of EUR 60.5 billion matured and new deposits were collected in an amount of EUR 60.5 billion, with a maturity of one week.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.3 billion (approximately the same as in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 74.2 billion (compared with EUR 55.6 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 327 million to EUR 121.8 billion. This is due to settled purchases of nearly EUR 338 million under the Securities Markets Programme which more than offset maturing bonds of EUR 10 million that were acquired 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 17.9 billion to EUR 237.6 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 351,970 0
2 Claims on non-euro area residents denominated in foreign currency 234,036 −413
2.1 Receivables from the IMF 73,935 −113
2.2 Balances with banks and security investments, external loans and other external assets 160,101 −300
3 Claims on euro area residents denominated in foreign currency 30,041 −431
4 Claims on non-euro area residents denominated in euro 18,387 1,424
4.1 Balances with banks, security investments and loans 18,387 1,424
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 587,419 1,577
5.1 Main refinancing operations 155,227 1,480
5.2 Longer-term refinancing operations 431,791 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 340 87
5.6 Credits related to margin calls 61 10
6 Other claims on euro area credit institutions denominated in euro 37,529 −2,000
7 Securities of euro area residents denominated in euro 420,281 532
7.1 Securities held for monetary policy purposes 121,801 327
7.2 Other securities 298,480 204
8 General government debt denominated in euro 35,041 0
9 Other assets 241,360 2,289
Total assets 1,956,064 2,978
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 815,653 −4,238
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 372,422 761
2.1 Current accounts (covering the minimum reserve system) 237,576 −17,937
2.2 Deposit facility 74,181 18,596
2.3 Fixed-term deposits 60,500 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 165 101
3 Other liabilities to euro area credit institutions denominated in euro 1,979 815
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 85,824 5,717
5.1 General government 78,962 5,822
5.2 Other liabilities 6,862 −106
6 Liabilities to non-euro area residents denominated in euro 40,973 377
7 Liabilities to euro area residents denominated in foreign currency 1,067 51
8 Liabilities to non-euro area residents denominated in foreign currency 15,055 −864
8.1 Deposits, balances and other liabilities 15,055 −864
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 56,711 0
10 Other liabilities 159,370 359
11 Revaluation accounts 328,818 0
12 Capital and reserves 78,191 0
Total liabilities 1,956,064 2,978

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