Consolidated financial statement of the Eurosystem as at 15 October 2010

19 October 2010

Items not related to monetary policy operations

In the week ending 15 October 2010 the increase of EUR 1 million in gold and gold receivables (asset item 1) reflected the net purchase of gold coin by one Eurosystem central bank.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) increased by EUR 0.2 billion to EUR 176.7 billion on account of customer and portfolio transactions and US dollar liquidity-providing operations (see below).

Extraordinary operations
Value date Type of transaction Maturing amount New amount
14 October 2010 7-day US dollar liquidity-providing reverse transaction USD 60 million USD 560 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 1.5 billion to EUR 310.5 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.9 billion to EUR 814 billion. Liabilities to general government (liability item 5.1) decreased by EUR 7.2 billion to EUR 86 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 63 billion to EUR 419.2 billion. On Wednesday, 13 October 2010, a main refinancing operation of EUR 197 billion matured and a new one of EUR 186 billion was settled. On the same day a longer-term refinancing operation of EUR 37.9 billion matured and a new one of EUR 52.2 billion was settled. Also on Wednesday, 13 October 2010, fixed-term deposits in an amount of EUR 63.5 billion matured and new deposits were collected in the same amount, with a maturity of one week.

Recourse to the marginal lending facility (asset item 5.5) was EUR 1.4 billion (compared with EUR 0.4 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 35.8 billion (compared with EUR 94.4 billion in the preceding week).

Since there were no new settled purchases under the Securities Markets Programme during the course of the week, the holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) remained unchanged at EUR 124.3 billion. As a result, in the week ending 15 October 2010 the value of the accumulated purchases under the Securities Markets Programme and that of the portfolio held under the covered bond purchase programme totalled EUR 63.3 billion and EUR 61 billion respectively. Both portfolios are accounted for on a held-to-maturity basis.

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 77 billion to EUR 228.7 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 334,411 1
2 Claims on non-euro area residents denominated in foreign currency 219,894 6
2.1 Receivables from the IMF 69,986 −31
2.2 Balances with banks and security investments, external loans and other external assets 149,907 37
3 Claims on euro area residents denominated in foreign currency 24,202 −146
4 Claims on non-euro area residents denominated in euro 17,164 −1,178
4.1 Balances with banks, security investments and loans 17,164 −1,178
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 518,524 4,323
5.1 Main refinancing operations 185,984 −11,065
5.2 Longer-term refinancing operations 331,077 14,333
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 1,442 1,050
5.6 Credits related to margin calls 22 5
6 Other claims on euro area credit institutions denominated in euro 29,876 796
7 Securities of euro area residents denominated in euro 434,855 1,526
7.1 Securities held for monetary policy purposes 124,317 0
7.2 Other securities 310,539 1,526
8 General government debt denominated in euro 34,975 0
9 Other assets 263,043 3,665
Total assets 1,876,946 8,993
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 813,990 −1,867
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 328,024 18,339
2.1 Current accounts (covering the minimum reserve system) 228,684 76,966
2.2 Deposit facility 35,782 −58,632
2.3 Fixed-term deposits 63,500 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 59 4
3 Other liabilities to euro area credit institutions denominated in euro 721 −474
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 92,171 −6,983
5.1 General government 86,019 −7,196
5.2 Other liabilities 6,151 212
6 Liabilities to non-euro area residents denominated in euro 42,406 −160
7 Liabilities to euro area residents denominated in foreign currency 878 −749
8 Liabilities to non-euro area residents denominated in foreign currency 12,820 424
8.1 Deposits, balances and other liabilities 12,820 424
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 53,665 0
10 Other liabilities 157,340 463
11 Revaluation accounts 296,740 0
12 Capital and reserves 78,191 0
Total liabilities 1,876,946 8,993

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