Consolidated financial statement of the Eurosystem as at 27 May 2011

31 May 2011

Items not related to monetary policy operations

In the week ending 27 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) remained virtually unchanged at EUR 176.2 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 1.2 billion to EUR 337.4 billion. Banknotes in circulation (liability item 1) increased by EUR 2.1 billion to EUR 834.1 billion. Liabilities to general government (liability item 5.1) increased by EUR 7.2 billion to EUR 65 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 4.2 billion to EUR 343.1 billion. On Wednesday, 25 May 2011, a main refinancing operation of EUR 119.4 billion matured and a new one of EUR 116.1 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 75 billion, with a maturity of one week. On Thursday, 26 May 2011, a longer-term refinancing operation of EUR 39.8 billion matured and a new one of EUR 48.1 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (which was approximately the same as in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 19.4 billion (compared with EUR 17.8 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 135.3 billion. Therefore, in the week ending 27 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 74.9 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 4.4 billion to EUR 212.8 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 350,669 0
2 Claims on non-euro area residents denominated in foreign currency 219,385 718
2.1 Receivables from the IMF 74,886 73
2.2 Balances with banks and security investments, external loans and other external assets 144,499 645
3 Claims on euro area residents denominated in foreign currency 22,941 −825
4 Claims on non-euro area residents denominated in euro 19,393 621
4.1 Balances with banks, security investments and loans 19,393 621
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 437,547 4,800
5.1 Main refinancing operations 116,102 −3,296
5.2 Longer-term refinancing operations 321,313 8,037
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 82 48
5.6 Credits related to margin calls 50 12
6 Other claims on euro area credit institutions denominated in euro 47,160 −3,361
7 Securities of euro area residents denominated in euro 472,698 1,240
7.1 Securities held for monetary policy purposes 135,280 0
7.2 Other securities 337,418 1,240
8 General government debt denominated in euro 34,521 −6
9 Other assets 296,296 1,552
Total assets 1,900,610 4,740
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 834,123 2,115
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 307,180 −3,840
2.1 Current accounts (covering the minimum reserve system) 212,761 −4,392
2.2 Deposit facility 19,382 1,580
2.3 Fixed-term deposits 75,000 −1,000
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 37 −28
3 Other liabilities to euro area credit institutions denominated in euro 5,495 −267
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 72,596 7,176
5.1 General government 64,984 7,210
5.2 Other liabilities 7,612 −34
6 Liabilities to non-euro area residents denominated in euro 41,131 705
7 Liabilities to euro area residents denominated in foreign currency 1,712 −689
8 Liabilities to non-euro area residents denominated in foreign currency 11,820 547
8.1 Deposits, balances and other liabilities 11,820 547
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 186,852 −1,019
11 Revaluation accounts 305,890 0
12 Capital and reserves 81,199 12
Total liabilities 1,900,610 4,740

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