Consolidated financial statement of the Eurosystem as at 4 February 2011

8 February 2011

Items not related to monetary policy operations

In the week ending 4 February 2011 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 0.2 billion to EUR 182.1 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
3 February 2011 7-day US dollar liquidity-providing reverse transaction USD 70 million USD 70 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 1.8 billion to EUR 329.7 billion. Banknotes in circulation (liability item 1) increased by EUR 1.6 billion to EUR 823 billion. Liabilities to general government (liability item 5.1) decreased by EUR 24.1 billion to EUR 88.1 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 9.4 billion to EUR 403.1 billion. On Wednesday, 2 February 2011, a main refinancing operation of EUR 165.6 billion matured and a new one of EUR 213.7 billion was settled. On the same day, fixed-term deposits in an amount of EUR 76.5 billion matured and new deposits were collected in an amount of EUR 68.2 billion, with a maturity of one week.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (approximately the same as in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 71.4 billion (compared with EUR 24.4 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) remained virtually unchanged at EUR 137.2 billion. In the week ending 4 February 2011 the value of accumulated purchases under the Securities Markets Programme and that of the portfolio held under the covered bond purchase programme totalled EUR 76.5 billion and EUR 60.7 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 27.4 billion to EUR 239.3 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 367,431 0
2 Claims on non-euro area residents denominated in foreign currency 229,382 1,099
2.1 Receivables from the IMF 72,614 −273
2.2 Balances with banks and security investments, external loans and other external assets 156,768 1,372
3 Claims on euro area residents denominated in foreign currency 26,067 −50
4 Claims on non-euro area residents denominated in euro 18,383 −795
4.1 Balances with banks, security investments and loans 18,383 −795
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 542,912 48,087
5.1 Main refinancing operations 213,725 48,121
5.2 Longer-term refinancing operations 329,170 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 2 2
5.6 Credits related to margin calls 16 −36
6 Other claims on euro area credit institutions denominated in euro 48,758 1,907
7 Securities of euro area residents denominated in euro 466,848 1,722
7.1 Securities held for monetary policy purposes 137,167 −30
7.2 Other securities 329,681 1,752
8 General government debt denominated in euro 34,904 −50
9 Other assets 280,913 −1,882
Total assets 2,015,599 50,039
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 822,995 1,571
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 379,076 66,155
2.1 Current accounts (covering the minimum reserve system) 239,304 27,431
2.2 Deposit facility 71,446 47,030
2.3 Fixed-term deposits 68,220 −8,280
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 105 −26
3 Other liabilities to euro area credit institutions denominated in euro 9,546 5,278
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 95,804 −24,190
5.1 General government 88,053 −24,067
5.2 Other liabilities 7,752 −123
6 Liabilities to non-euro area residents denominated in euro 43,071 −1,485
7 Liabilities to euro area residents denominated in foreign currency 2,099 −761
8 Liabilities to non-euro area residents denominated in foreign currency 16,682 1,991
8.1 Deposits, balances and other liabilities 16,682 1,991
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 54,552 0
10 Other liabilities 181,461 1,444
11 Revaluation accounts 331,532 0
12 Capital and reserves 78,781 37
Total liabilities 2,015,599 50,039

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