Consolidated financial statement of the Eurosystem as at 3 December 2010

7 December 2010

Items not related to monetary policy operations

In the week ending 3 December 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 0.4 billion to EUR 176.8 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
2 December 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 marketable securities other than those held for monetary policy purposes (asset item 7.2) increased by EUR 2.2 billion to EUR 320.6 billion. Banknotes in circulation (liability item 1) increased by EUR 10.5 billion to EUR 824.5 billion. Liabilities to general government (liability item 5.1) decreased by EUR 20.7 billion to EUR 91.8 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 29.6 billion to EUR 373.7 billion. On Wednesday, 1 December 2010, a main refinancing operation of EUR 177.1 billion matured and a new one of EUR 179.7 billion was settled. On the same day, fixed-term deposits in an amount of EUR 66 billion matured and new deposits were collected in an amount of EUR 67 billion, with a maturity of one week.

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 2 billion to EUR 130.1 billion as a result of settled purchases under the Securities Markets Programme. Therefore, in the week ending 3 December 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 69.2 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 (approximately the same as in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 84.8 billion (compared with EUR 53.8 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 11 billion to EUR 185.8 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 219,268 −736
2.1 Receivables from the IMF 69,627 88
2.2 Balances with banks and security investments, external loans and other external assets 149,641 −824
3 Claims on euro area residents denominated in foreign currency 24,651 397
4 Claims on non-euro area residents denominated in euro 19,582 −277
4.1 Balances with banks, security investments and loans 19,582 −277
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 525,791 2,607
5.1 Main refinancing operations 179,694 2,591
5.2 Longer-term refinancing operations 345,226 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 865 13
5.6 Credits related to margin calls 6 4
6 Other claims on euro area credit institutions denominated in euro 32,980 1,373
7 Securities of euro area residents denominated in euro 450,649 4,137
7.1 Securities held for monetary policy purposes 130,086 1,965
7.2 Other securities 320,563 2,172
8 General government debt denominated in euro 34,977 0
9 Other assets 281,821 668
Total assets 1,924,130 8,169
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 824,523 10,479
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 337,919 21,209
2.1 Current accounts (covering the minimum reserve system) 185,847 −11,037
2.2 Deposit facility 84,850 31,074
2.3 Fixed-term deposits 67,000 1,000
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 222 172
3 Other liabilities to euro area credit institutions denominated in euro 10,122 5,102
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 99,483 −19,244
5.1 General government 91,784 −20,748
5.2 Other liabilities 7,698 1,504
6 Liabilities to non-euro area residents denominated in euro 43,828 1,220
7 Liabilities to euro area residents denominated in foreign currency 1,793 784
8 Liabilities to non-euro area residents denominated in foreign currency 11,628 −1,506
8.1 Deposits, balances and other liabilities 11,628 −1,506
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 166,242 −9,874
11 Revaluation accounts 296,740 0
12 Capital and reserves 78,187 −2
Total liabilities 1,924,130 8,169

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