Consolidated financial statement of the Eurosystem as at 6 May 2011

10 May 2011

Items not related to monetary policy operations

In the week ending 6 May 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 0.4 billion to EUR 175.1 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 0.6 billion to EUR 334.9 billion. Banknotes in circulation (liability item 1) increased by EUR 0.3 billion to EUR 834.7 billion. Liabilities to general government (liability item 5.1) decreased by EUR 38.3 billion to EUR 46.1 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 8 billion to EUR 327.5 billion. On Wednesday, 4 May 2011, a main refinancing operation of EUR 117.9 billion matured and a new one of EUR 127.5 billion was settled. On the same day, fixed-term deposits in an amount of EUR 71.4 billion matured and new deposits were collected in an amount of EUR 62.2 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 54.2 billion (compared with EUR 27.3 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 7 million, remaining, however, virtually unchanged at EUR 136.5 billion. This decrease was due to securities purchased under the covered bond purchase programme reaching maturity. Therefore, in the week ending 6 May 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) increased by EUR 27.4 billion to EUR 215 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 218,089 1,274
2.1 Receivables from the IMF 74,122 −115
2.2 Balances with banks and security investments, external loans and other external assets 143,967 1,389
3 Claims on euro area residents denominated in foreign currency 23,442 176
4 Claims on non-euro area residents denominated in euro 21,142 −1,229
4.1 Balances with banks, security investments and loans 21,142 −1,229
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 443,962 9,703
5.1 Main refinancing operations 127,538 9,655
5.2 Longer-term refinancing operations 316,310 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 7 5
5.6 Credits related to margin calls 107 43
6 Other claims on euro area credit institutions denominated in euro 52,172 2,589
7 Securities of euro area residents denominated in euro 471,419 −639
7.1 Securities held for monetary policy purposes 136,513 −7
7.2 Other securities 334,907 −632
8 General government debt denominated in euro 34,548 0
9 Other assets 286,408 −4,125
Total assets 1,901,850 7,749
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 834,699 268
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 331,536 45,030
2.1 Current accounts (covering the minimum reserve system) 215,028 27,374
2.2 Deposit facility 54,244 26,906
2.3 Fixed-term deposits 62,177 −9,226
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 86 −24
3 Other liabilities to euro area credit institutions denominated in euro 4,900 −150
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 53,692 −38,557
5.1 General government 46,142 −38,282
5.2 Other liabilities 7,550 −275
6 Liabilities to non-euro area residents denominated in euro 40,248 −910
7 Liabilities to euro area residents denominated in foreign currency 1,905 979
8 Liabilities to non-euro area residents denominated in foreign currency 11,935 104
8.1 Deposits, balances and other liabilities 11,935 104
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 0
10 Other liabilities 183,247 983
11 Revaluation accounts 305,890 0
12 Capital and reserves 81,187 2
Total liabilities 1,901,850 7,749

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