Consolidated financial statement of the Eurosystem as at 18 March 2011

22 March 2011

Items not related to monetary policy operations

In the week ending 18 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 2 billion to EUR 187 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) decreased by EUR 1.2 billion to EUR 332.5 billion. Banknotes in circulation (liability item 1) fell by EUR 0.6 billion to EUR 823.9 billion. Liabilities to general government (liability item 5.1) decreased by EUR 6.9 billion to EUR 77.1 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) decreased by EUR 16.3 billion to EUR 344.9 billion. On Wednesday, 16 March 2011, a main refinancing operation of EUR 111.3 billion matured and a new one of EUR 100.5 billion was settled. On the same date, 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 EUR 0.1 billion (compared with virtually nil in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 20.2 billion (compared with EUR 15.3 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.2 billion to EUR 138 billion. This decrease was the result of maturities under the Securities Markets Programme and the covered bond purchase programme. Therefore, in the week ending 18 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 77.4 billion and EUR 60.6 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 11.6 billion to EUR 222.4 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 367,433 0
2 Claims on non-euro area residents denominated in foreign currency 233,788 1,587
2.1 Receivables from the IMF 76,932 1,445
2.2 Balances with banks and security investments, external loans and other external assets 156,856 142
3 Claims on euro area residents denominated in foreign currency 25,609 −439
4 Claims on non-euro area residents denominated in euro 20,545 1,701
4.1 Balances with banks, security investments and loans 20,545 1,701
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 443,483 −10,765
5.1 Main refinancing operations 100,543 −10,788
5.2 Longer-term refinancing operations 342,863 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 51 15
5.6 Credits related to margin calls 27 8
6 Other claims on euro area credit institutions denominated in euro 48,729 −1,883
7 Securities of euro area residents denominated in euro 470,438 −1,461
7.1 Securities held for monetary policy purposes 137,958 −234
7.2 Other securities 332,480 −1,227
8 General government debt denominated in euro 34,904 0
9 Other assets 295,450 −1,379
Total assets 1,940,378 −12,639
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 823,862 −554
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 321,039 −6,064
2.1 Current accounts (covering the minimum reserve system) 222,435 −11,621
2.2 Deposit facility 20,150 4,858
2.3 Fixed-term deposits 77,500 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 954 698
3 Other liabilities to euro area credit institutions denominated in euro 3,877 730
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 84,979 −6,711
5.1 General government 77,115 −6,856
5.2 Other liabilities 7,864 145
6 Liabilities to non-euro area residents denominated in euro 41,790 −650
7 Liabilities to euro area residents denominated in foreign currency 2,030 −322
8 Liabilities to non-euro area residents denominated in foreign currency 15,830 −492
8.1 Deposits, balances and other liabilities 15,830 −492
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 181,001 1,371
11 Revaluation accounts 331,533 0
12 Capital and reserves 79,886 53
Total liabilities 1,940,378 −12,639

Media contacts