Consolidated financial statement of the Eurosystem as at 24 September 2010

28 September 2010

Items not related to monetary policy operations

In the week ending 24 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) decreased by EUR 0.3 billion to EUR 191.3 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
23 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 0.8 billion to EUR 306.5 billion. Banknotes in circulation (liability item 1) decreased by EUR 2.2 billion to EUR 812 billion. Liabilities to general government (liability item 5.1) increased by EUR 15.2 billion to EUR 104.6 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 19.6 billion to EUR 446.8 billion. On Wednesday, 22 September 2010, a main refinancing operation of EUR 151.6 billion matured and a new one of EUR 153.8 billion was settled. On the same day, fixed-term deposits in an amount of EUR 61 billion matured and new deposits were collected in an amount of EUR 61.5 billion, with a maturity of one week.

Recourse to the marginal lending facility (asset item 5.5) was EUR 1.2 billion (compared with virtually nil in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 84.1 billion (compared with EUR 61.6 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 97 million to EUR 122.8 billion. This is due to settled purchases of EUR 134 million under the Securities Markets Programme, which more than offset maturing bonds of EUR 37 million acquired under the euro-denominated covered bonds purchase programme. Therefore, in the week ending 24 September 2010 the value of the portfolio held under the Securities Markets Programme and that of the portfolio held under the covered bonds purchase programme totalled EUR 61.7 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 31.3 billion to EUR 221 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 351,948 0
2 Claims on non-euro area residents denominated in foreign currency 236,264 −187
2.1 Receivables from the IMF 73,860 −127
2.2 Balances with banks and security investments, external loans and other external assets 162,404 −60
3 Claims on euro area residents denominated in foreign currency 27,698 −536
4 Claims on non-euro area residents denominated in euro 17,321 −168
4.1 Balances with banks, security investments and loans 17,321 −168
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 592,503 3,411
5.1 Main refinancing operations 153,771 2,197
5.2 Longer-term refinancing operations 437,465 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 1,200 1,200
5.6 Credits related to margin calls 67 15
6 Other claims on euro area credit institutions denominated in euro 27,580 −2,436
7 Securities of euro area residents denominated in euro 429,284 943
7.1 Securities held for monetary policy purposes 122,773 97
7.2 Other securities 306,511 846
8 General government debt denominated in euro 35,042 0
9 Other assets 253,715 −153
Total assets 1,971,356 874
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 812,017 −2,194
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 366,699 −8,265
2.1 Current accounts (covering the minimum reserve system) 221,025 −31,270
2.2 Deposit facility 84,118 22,525
2.3 Fixed-term deposits 61,500 500
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 55 −20
3 Other liabilities to euro area credit institutions denominated in euro 1,462 −182
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 111,463 14,969
5.1 General government 104,595 15,241
5.2 Other liabilities 6,869 −271
6 Liabilities to non-euro area residents denominated in euro 40,404 302
7 Liabilities to euro area residents denominated in foreign currency 2,140 1,140
8 Liabilities to non-euro area residents denominated in foreign currency 13,833 −1,553
8.1 Deposits, balances and other liabilities 13,833 −1,553
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 159,618 −3,343
11 Revaluation accounts 328,818 0
12 Capital and reserves 78,191 0
Total liabilities 1,971,356 874

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