Consolidated financial statement of the Eurosystem as at 3 September 2010

7 September 2010

Items not related to monetary policy operations

In the week ending 3 September 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) increased by EUR 0.1 billion to EUR 191.1 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
2 September 2010 7-day US dollar liquidity-providing reverse transaction USD 40 million USD 60 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 2.1 billion to EUR 301.7 billion. Banknotes in circulation (liability item 1) increased by EUR 3.3 billion to EUR 816.8 billion. Liabilities to general government (liability item 5.1) decreased by EUR 4.1 billion to EUR 97 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 18.9 billion to EUR 408.3 billion. On Wednesday, 1 September 2010, a main refinancing operation of EUR 150.3 billion matured and a new one of EUR 153.1 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 61 billion, with a maturity of one week.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 1.4 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 122.4 billion (compared with EUR 102.7 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 173 million to EUR 122.1 billion as a result of settled purchases under the Securities Markets Programme. Therefore, in the week ending 3 September 2010 the value of the Securities Markets Programme portfolio and of the covered bond purchase programme portfolio amounted to EUR 61 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 15.7 billion to EUR 176.3 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 237,669 2,265
2.1 Receivables from the IMF 73,721 −71
2.2 Balances with banks and security investments, external loans and other external assets 163,948 2,336
3 Claims on euro area residents denominated in foreign currency 28,026 −1,325
4 Claims on non-euro area residents denominated in euro 16,987 −1,431
4.1 Balances with banks, security investments and loans 16,987 −1,431
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 591,826 1,314
5.1 Main refinancing operations 153,060 2,745
5.2 Longer-term refinancing operations 438,709 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 3 −1,424
5.6 Credits related to margin calls 53 −7
6 Other claims on euro area credit institutions denominated in euro 32,330 −1,838
7 Securities of euro area residents denominated in euro 423,862 2,249
7.1 Securities held for monetary policy purposes 122,116 173
7.2 Other securities 301,746 2,076
8 General government debt denominated in euro 35,041 0
9 Other assets 245,513 4,062
Total assets 1,963,223 5,298
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 816,766 3,337
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 359,752 4,545
2.1 Current accounts (covering the minimum reserve system) 176,253 −15,695
2.2 Deposit facility 122,440 19,742
2.3 Fixed-term deposits 61,000 500
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 59 −3
3 Other liabilities to euro area credit institutions denominated in euro 1,493 −103
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 103,800 −4,159
5.1 General government 97,025 −4,088
5.2 Other liabilities 6,775 −71
6 Liabilities to non-euro area residents denominated in euro 38,868 −335
7 Liabilities to euro area residents denominated in foreign currency 985 −3
8 Liabilities to non-euro area residents denominated in foreign currency 16,869 844
8.1 Deposits, balances and other liabilities 16,869 844
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 160,971 1,171
11 Revaluation accounts 328,818 0
12 Capital and reserves 78,191 0
Total liabilities 1,963,223 5,298

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