Consolidated financial statement of the Eurosystem as at 26 November 2010

30 November 2010

Items not related to monetary policy operations

In the week ending 26 November 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 0.5 billion to EUR 176.5 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
26 November 2010 6-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 marketable securities other than those held for monetary policy purposes (asset item 7.2) increased by EUR 1.1 billion to EUR 318.4 billion. Banknotes in circulation (liability item 1) increased by EUR 1.3 billion to EUR 814 billion. Liabilities to general government (liability item 5.1) increased by EUR 10.9 billion to EUR 112.5 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 18.3 billion to EUR 403.4 billion. On Wednesday, 24 November 2010, a main refinancing operation of EUR 186 billion matured and a new one of EUR 177.1 billion was settled. On the same day, fixed-term deposits in an amount of EUR 65 billion matured and new deposits were collected in an amount of EUR 66 billion, with a maturity of one week. On Thursday, 25 November 2010, a longer-term refinancing operation of EUR 19.1 billion matured and a new one of EUR 38.2 billion was settled.

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 1.3 billion to EUR 128.1 billion as a result of settled purchases under the Securities Markets Programme. Therefore, in the week ending 26 November 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 67.2 billion and EUR 60.9 billion respectively. Both portfolios are accounted for on a held-to-maturity basis.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.9 billion (compared with EUR 3.4 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 53.8 billion (compared with EUR 28.9 billion in the preceding week).

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 25.3 billion to EUR 196.9 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 334,411 0
2 Claims on non-euro area residents denominated in foreign currency 220,004 −295
2.1 Receivables from the IMF 69,539 −165
2.2 Balances with banks and security investments, external loans and other external assets 150,465 −129
3 Claims on euro area residents denominated in foreign currency 24,254 837
4 Claims on non-euro area residents denominated in euro 19,859 151
4.1 Balances with banks, security investments and loans 19,859 151
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 523,184 7,636
5.1 Main refinancing operations 177,103 −8,930
5.2 Longer-term refinancing operations 345,226 19,127
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 852 −2,563
5.6 Credits related to margin calls 3 1
6 Other claims on euro area credit institutions denominated in euro 31,607 2,813
7 Securities of euro area residents denominated in euro 446,511 2,486
7.1 Securities held for monetary policy purposes 128,121 1,348
7.2 Other securities 318,391 1,138
8 General government debt denominated in euro 34,977 0
9 Other assets 281,153 13,946
Total assets 1,915,961 27,573
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 814,043 1,281
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 316,710 551
2.1 Current accounts (covering the minimum reserve system) 196,884 −25,345
2.2 Deposit facility 53,776 24,875
2.3 Fixed-term deposits 66,000 1,000
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 51 20
3 Other liabilities to euro area credit institutions denominated in euro 5,020 997
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 118,727 10,763
5.1 General government 112,532 10,883
5.2 Other liabilities 6,195 −120
6 Liabilities to non-euro area residents denominated in euro 42,608 1,616
7 Liabilities to euro area residents denominated in foreign currency 1,008 150
8 Liabilities to non-euro area residents denominated in foreign currency 13,134 893
8.1 Deposits, balances and other liabilities 13,134 893
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 176,116 11,321
11 Revaluation accounts 296,740 0
12 Capital and reserves 78,189 0
Total liabilities 1,915,961 27,573

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