Consolidated financial statement of the Eurosystem as at 13 May 2011

17 May 2011

Items not related to monetary policy operations

In the week ending 13 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 0.1 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) increased by EUR 1.3 billion to EUR 336.2 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.4 billion to EUR 833.3 billion. Liabilities to general government (liability item 5.1) decreased by EUR 2.9 billion to EUR 43.2 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 22.5 billion to EUR 350 billion. On Wednesday, 11 May 2011, a main refinancing operation of EUR 127.5 billion matured and a new one of EUR 124.8 billion was settled. On the same day, a longer-term refinancing operation of EUR 83.7 billion matured and a new one of EUR 80.7 billion was settled. Also on Wednesday, 11 May 2011, fixed-term deposits in an amount of EUR 62.2 billion matured and new deposits were collected in an amount of EUR 76 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 12.1 billion (compared with EUR 54.2 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 5 million, nevertheless remaining 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 13 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 28.6 billion to EUR 243.7 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 217,453 −636
2.1 Receivables from the IMF 74,116 −6
2.2 Balances with banks and security investments, external loans and other external assets 143,337 −630
3 Claims on euro area residents denominated in foreign currency 23,597 155
4 Claims on non-euro area residents denominated in euro 19,828 −1,313
4.1 Balances with banks, security investments and loans 19,828 −1,313
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 438,184 −5,778
5.1 Main refinancing operations 124,754 −2,784
5.2 Longer-term refinancing operations 313,276 −3,034
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 104 97
5.6 Credits related to margin calls 50 −57
6 Other claims on euro area credit institutions denominated in euro 50,399 −1,772
7 Securities of euro area residents denominated in euro 472,713 1,294
7.1 Securities held for monetary policy purposes 136,508 −5
7.2 Other securities 336,206 1,299
8 General government debt denominated in euro 34,548 0
9 Other assets 291,274 4,866
Total assets 1,898,665 −3,185
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 833,346 −1,353
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 331,832 296
2.1 Current accounts (covering the minimum reserve system) 243,650 28,622
2.2 Deposit facility 12,106 −42,138
2.3 Fixed-term deposits 76,000 13,823
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 76 −10
3 Other liabilities to euro area credit institutions denominated in euro 4,509 −391
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 50,819 −2,873
5.1 General government 43,225 −2,917
5.2 Other liabilities 7,595 45
6 Liabilities to non-euro area residents denominated in euro 40,681 433
7 Liabilities to euro area residents denominated in foreign currency 2,404 498
8 Liabilities to non-euro area residents denominated in foreign currency 10,895 −1,040
8.1 Deposits, balances and other liabilities 10,895 −1,040
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 184,489 1,243
11 Revaluation accounts 305,890 0
12 Capital and reserves 81,187 0
Total liabilities 1,898,665 −3,185

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