Consolidated financial statement of the Eurosystem as at 4 March 2011

8 March 2011

Items not related to monetary policy operations

In the week ending 4 March 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) increased by EUR 3 billion to EUR 184.7 billion on account of customer and portfolio transactions.

The holdings by the Eurosystem of marketable securities other than those held for monetary policy purposes (asset item 7.2) increased by EUR 1.5 billion to EUR 333.1 billion. Banknotes in circulation (liability item 1) increased by EUR 5.3 billion to EUR 824.9 billion. Liabilities to general government (liability item 5.1) decreased by EUR 6.3 billion to EUR 91.6 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 30.6 billion to EUR 326 billion. On Wednesday, 2 March 2011, a main refinancing operation of EUR 119.5 billion matured and a new one of EUR 124.4 billion was settled. On the same day, fixed-term deposits in an amount of EUR 77 billion matured and new deposits were collected in an amount of EUR 77.5 billion, with a maturity of one week.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.8 billion (compared with EUR 17.1 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 43.2 billion (compared with EUR 24.7 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) remained unchanged at EUR 138.2 billion. Therefore, in the week ending 4 March 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 77.5 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) decreased by EUR 29.6 billion to EUR 182.7 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 367,432 0
2 Claims on non-euro area residents denominated in foreign currency 230,703 4,189
2.1 Receivables from the IMF 75,436 2,864
2.2 Balances with banks and security investments, external loans and other external assets 155,267 1,324
3 Claims on euro area residents denominated in foreign currency 26,350 −131
4 Claims on non-euro area residents denominated in euro 22,030 177
4.1 Balances with banks, security investments and loans 22,030 177
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 447,045 −11,370
5.1 Main refinancing operations 124,442 4,987
5.2 Longer-term refinancing operations 321,835 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 758 −16,357
5.6 Credits related to margin calls 10 −1
6 Other claims on euro area credit institutions denominated in euro 47,838 −661
7 Securities of euro area residents denominated in euro 471,262 1,505
7.1 Securities held for monetary policy purposes 138,191 0
7.2 Other securities 333,070 1,505
8 General government debt denominated in euro 34,904 0
9 Other assets 291,655 −6,768
Total assets 1,939,219 −13,059
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 824,925 5,276
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 303,748 −10,374
2.1 Current accounts (covering the minimum reserve system) 182,672 −29,596
2.2 Deposit facility 43,179 18,461
2.3 Fixed-term deposits 77,500 500
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 397 261
3 Other liabilities to euro area credit institutions denominated in euro 3,569 731
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 99,316 −6,433
5.1 General government 91,620 −6,317
5.2 Other liabilities 7,696 −116
6 Liabilities to non-euro area residents denominated in euro 43,361 −945
7 Liabilities to euro area residents denominated in foreign currency 2,916 613
8 Liabilities to non-euro area residents denominated in foreign currency 14,906 465
8.1 Deposits, balances and other liabilities 14,906 465
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 180,564 −2,804
11 Revaluation accounts 331,533 0
12 Capital and reserves 79,831 412
Total liabilities 1,939,219 −13,059

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