Consolidated financial statement of the Eurosystem as at 11 March 2011

15 March 2011

Items not related to monetary policy operations

In the week ending 11 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 0.3 billion to EUR 185 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 0.6 billion to EUR 333.7 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.5 billion to EUR 824.4 billion. Liabilities to general government (liability item 5.1) fell by EUR 7.6 billion to EUR 84 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 35.2 billion to EUR 361.2 billion. On Wednesday, 9 March 2011, a main refinancing operation of EUR 124.4 billion matured and a new one of EUR 111.3 billion was settled. On the same day, a longer-term refinancing operation of EUR 61.5 billion matured and a new one of EUR 82.5 billion was settled. Also on Wednesday, 9 March 2011, fixed-term deposits in an amount of EUR 77.5 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 virtually nil (compared with EUR 0.8 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 15.3 billion (compared with EUR 43.2 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 11 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) increased by EUR 51.4 billion to EUR 234.1 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 232,201 1,499
2.1 Receivables from the IMF 75,487 51
2.2 Balances with banks and security investments, external loans and other external assets 156,714 1,448
3 Claims on euro area residents denominated in foreign currency 26,048 −302
4 Claims on non-euro area residents denominated in euro 18,844 −3,186
4.1 Balances with banks, security investments and loans 18,844 −3,186
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 454,249 7,204
5.1 Main refinancing operations 111,331 −13,111
5.2 Longer-term refinancing operations 342,863 21,028
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 36 −722
5.6 Credits related to margin calls 18 8
6 Other claims on euro area credit institutions denominated in euro 50,612 2,774
7 Securities of euro area residents denominated in euro 471,899 637
7.1 Securities held for monetary policy purposes 138,191 0
7.2 Other securities 333,707 637
8 General government debt denominated in euro 34,904 0
9 Other assets 296,829 5,173
Total assets 1,953,018 13,799
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 824,416 −509
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 327,104 23,356
2.1 Current accounts (covering the minimum reserve system) 234,056 51,384
2.2 Deposit facility 15,292 −27,888
2.3 Fixed-term deposits 77,500 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 256 −140
3 Other liabilities to euro area credit institutions denominated in euro 3,146 −422
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 91,690 −7,626
5.1 General government 83,971 −7,649
5.2 Other liabilities 7,719 23
6 Liabilities to non-euro area residents denominated in euro 42,441 −920
7 Liabilities to euro area residents denominated in foreign currency 2,352 −564
8 Liabilities to non-euro area residents denominated in foreign currency 16,322 1,417
8.1 Deposits, balances and other liabilities 16,322 1,417
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 179,630 −934
11 Revaluation accounts 331,533 0
12 Capital and reserves 79,832 2
Total liabilities 1,953,018 13,799

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