Consolidated financial statement of the Eurosystem as at 29 April 2011

3 May 2011

Items not related to monetary policy operations

In the week ending 29 April 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 174.7 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 0.2 billion to EUR 335.5 billion. Banknotes in circulation (liability item 1) decreased by EUR 3.2 billion to EUR 834.4 billion. Liabilities to general government (liability item 5.1) increased by EUR 17.6 billion to EUR 84.4 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 3.2 billion to EUR 335.4 billion. On Wednesday, 27 April 2011, a main refinancing operation of EUR 97.4 billion matured and a new one of EUR 117.9 billion was settled. On the same day, fixed-term deposits in an amount of EUR 76 billion matured and new deposits were collected in an amount of EUR 71.4 billion, with a maturity of one week. On Thursday, 28 April 2011, a longer-term refinancing operation of EUR 71.1 billion matured and a new one of EUR 63.4 billion was settled.

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 27.3 billion (compared with EUR 13.1 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.1 billion to EUR 136.5 billion. This decrease was due to securities purchased under the covered bond purchase programme reaching maturity. Therefore, in the week ending 29 April 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 76.1 billion and EUR 60.4 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 16.8 billion to EUR 187.7 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 350,668 0
2 Claims on non-euro area residents denominated in foreign currency 216,815 −1,244
2.1 Receivables from the IMF 74,236 −1
2.2 Balances with banks and security investments, external loans and other external assets 142,578 −1,243
3 Claims on euro area residents denominated in foreign currency 23,267 −243
4 Claims on non-euro area residents denominated in euro 22,371 −786
4.1 Balances with banks, security investments and loans 22,371 −786
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 434,259 12,781
5.1 Main refinancing operations 117,883 20,511
5.2 Longer-term refinancing operations 316,310 −7,732
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 3 −28
5.6 Credits related to margin calls 63 30
6 Other claims on euro area credit institutions denominated in euro 49,583 4,711
7 Securities of euro area residents denominated in euro 472,059 143
7.1 Securities held for monetary policy purposes 136,520 −75
7.2 Other securities 335,539 218
8 General government debt denominated in euro 34,548 −537
9 Other assets 290,533 −8,605
Total assets 1,894,101 6,219
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 834,430 −3,195
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 286,506 −7,209
2.1 Current accounts (covering the minimum reserve system) 187,655 −16,814
2.2 Deposit facility 27,338 14,234
2.3 Fixed-term deposits 71,403 −4,597
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 110 −32
3 Other liabilities to euro area credit institutions denominated in euro 5,050 −203
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 92,249 17,604
5.1 General government 84,424 17,637
5.2 Other liabilities 7,825 −33
6 Liabilities to non-euro area residents denominated in euro 41,158 −1,154
7 Liabilities to euro area residents denominated in foreign currency 927 −33
8 Liabilities to non-euro area residents denominated in foreign currency 11,830 −1,214
8.1 Deposits, balances and other liabilities 11,830 −1,214
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 52,612 −1
10 Other liabilities 182,263 1,819
11 Revaluation accounts 305,890 0
12 Capital and reserves 81,185 −194
Total liabilities 1,894,101 6,219

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