Consolidated financial statement of the Eurosystem as at 27 August 2010

31 August 2010

Items not related to monetary policy operations

In the week ending 27 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 0.2 billion to EUR 191 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
26 August 2010 7-day US dollar liquidity-providing reverse transaction USD 35 million USD 40 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 securities other than those held for monetary policy purposes (asset item 7.2) increased by EUR 1.2 billion to EUR 299.7 billion. Banknotes in circulation (liability item 1) decreased by EUR 2.2 billion to EUR 813.4 billion. Liabilities to general government (liability item 5.1) rose by EUR 22.2 billion to EUR 101.1 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) decreased by EUR 25.3 billion to EUR 427.3 billion. On Wednesday, 25 August 2010, a main refinancing operation of EUR 155.2 billion matured and a new one of EUR 150.3 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. On Thursday, 26 August 2010, a longer-term refinancing operation of EUR 12.2 billion matured and a new one of EUR 19.1 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 1.4 billion (compared with EUR 0.3 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 102.7 billion (compared with EUR 74.2 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 142 million to EUR 121.9 billion as a result of settled purchases under the Securities Markets Programme. Therefore, in the week ending 27 August 2010 the value of the Securities Markets Programme portfolio and of the covered bond purchase programme portfolio amounted to EUR 60.8 billion and EUR 61.1 billion respectively.

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 45.6 billion to EUR 191.9 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 351,970 0
2 Claims on non-euro area residents denominated in foreign currency 235,404 1,367
2.1 Receivables from the IMF 73,791 −144
2.2 Balances with banks and security investments, external loans and other external assets 161,612 1,511
3 Claims on euro area residents denominated in foreign currency 29,350 −691
4 Claims on non-euro area residents denominated in euro 18,418 31
4.1 Balances with banks, security investments and loans 18,418 31
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 590,512 3,093
5.1 Main refinancing operations 150,315 −4,912
5.2 Longer-term refinancing operations 438,709 6,918
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 1,427 1,086
5.6 Credits related to margin calls 60 0
6 Other claims on euro area credit institutions denominated in euro 34,168 −3,361
7 Securities of euro area residents denominated in euro 421,613 1,332
7.1 Securities held for monetary policy purposes 121,943 142
7.2 Other securities 299,670 1,190
8 General government debt denominated in euro 35,041 0
9 Other assets 241,451 90
Total assets 1,957,926 1,862
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 813,429 −2,225
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 355,207 −17,214
2.1 Current accounts (covering the minimum reserve system) 191,947 −45,629
2.2 Deposit facility 102,698 28,517
2.3 Fixed-term deposits 60,500 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 62 −103
3 Other liabilities to euro area credit institutions denominated in euro 1,596 −384
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 107,959 22,135
5.1 General government 101,114 22,152
5.2 Other liabilities 6,846 −17
6 Liabilities to non-euro area residents denominated in euro 39,203 −1,770
7 Liabilities to euro area residents denominated in foreign currency 988 −79
8 Liabilities to non-euro area residents denominated in foreign currency 16,024 969
8.1 Deposits, balances and other liabilities 16,024 969
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 159,800 430
11 Revaluation accounts 328,818 0
12 Capital and reserves 78,191 0
Total liabilities 1,957,926 1,862

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