Consolidated financial statement of the Eurosystem as at 10 September 2010

14 September 2010

Items not related to monetary policy operations

In the week ending 10 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) remained virtually unchanged at 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
9 September 2010 7-day US dollar liquidity-providing reverse transaction USD 60 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 2.2 billion to EUR 303.9 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.8 billion to EUR 816 billion. Liabilities to general government (liability item 5.1) decreased by EUR 4.1 billion to EUR 92.9 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) increased by EUR 73.7 billion to EUR 482.1 billion. On Wednesday, 8 September 2010, a main refinancing operation of EUR 153.1 billion matured and a new one of EUR 153.7 billion was settled. On the same date a longer-term refinancing operation of EUR 39.1 billion matured and a new one of EUR 37.9 billion, with a maturity of 35 days, was settled. In addition, fixed-term deposits in an amount of EUR 61 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 EUR 1 billion (compared with virtually nil in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 49.1 billion (compared with EUR 122.4 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 237 million to EUR 122.4 billion as a result of settled purchases under the Securities Markets Programme. Therefore, in the week ending 10 September 2010 the value of the Securities Markets Programme portfolio and of the covered bond purchase programme portfolio amounted to EUR 61.2 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) increased by EUR 85.2 billion to EUR 261.4 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 236,725 −943
2.1 Receivables from the IMF 73,471 −250
2.2 Balances with banks and security investments, external loans and other external assets 163,254 −693
3 Claims on euro area residents denominated in foreign currency 28,160 135
4 Claims on non-euro area residents denominated in euro 17,810 823
4.1 Balances with banks, security investments and loans 17,810 823
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 592,199 373
5.1 Main refinancing operations 153,655 595
5.2 Longer-term refinancing operations 437,465 −1,245
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 1,025 1,022
5.6 Credits related to margin calls 55 2
6 Other claims on euro area credit institutions denominated in euro 30,713 −1,617
7 Securities of euro area residents denominated in euro 426,296 2,434
7.1 Securities held for monetary policy purposes 122,353 237
7.2 Other securities 303,943 2,197
8 General government debt denominated in euro 35,041 0
9 Other assets 254,339 8,826
Total assets 1,973,255 10,031
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 815,951 −815
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 371,536 11,784
2.1 Current accounts (covering the minimum reserve system) 261,403 85,150
2.2 Deposit facility 49,071 −73,369
2.3 Fixed-term deposits 61,000 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 62 3
3 Other liabilities to euro area credit institutions denominated in euro 1,720 227
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 99,761 −4,039
5.1 General government 92,926 −4,100
5.2 Other liabilities 6,835 60
6 Liabilities to non-euro area residents denominated in euro 39,724 856
7 Liabilities to euro area residents denominated in foreign currency 971 −14
8 Liabilities to non-euro area residents denominated in foreign currency 16,118 −750
8.1 Deposits, balances and other liabilities 16,118 −750
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 163,753 2,782
11 Revaluation accounts 328,818 0
12 Capital and reserves 78,191 0
Total liabilities 1,973,255 10,031

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