Consolidated financial statement of the Eurosystem as at 17 June 2011

21 June 2011

Items not related to monetary policy operations

In the week ending 17 June 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 177.3 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 0.3 billion to EUR 342.4 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.8 billion to EUR 842.7 billion. Liabilities to general government (liability item 5.1) decreased by EUR 11.1 billion to EUR 59.6 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 27.1 billion to EUR 365.6 billion. On Wednesday, 15 June 2011, a main refinancing operation of EUR 102.4 billion matured and a new one of EUR 135.6 billion was settled. On the same day, a longer-term refinancing operation of EUR 80.7 billion matured and a new one of EUR 69.4 billion was settled. Also on Wednesday, 15 June 2011, fixed-term deposits in an amount of EUR 75 billion matured and new deposits were collected in the same amount, 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 5.4 billion (compared with EUR 10.4 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 1 billion to EUR 134.2 billion. This decrease was due to securities purchased under the Securities Markets Programme reaching maturity. Therefore, in the week ending 17 June 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 73.9 billion and EUR 60.3 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 40.7 billion to EUR 238.1 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 350,670 0
2 Claims on non-euro area residents denominated in foreign currency 219,072 −549
2.1 Receivables from the IMF 74,880 0
2.2 Balances with banks and security investments, external loans and other external assets 144,192 −549
3 Claims on euro area residents denominated in foreign currency 23,729 392
4 Claims on non-euro area residents denominated in euro 20,121 −1,158
4.1 Balances with banks, security investments and loans 20,121 −1,158
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 445,945 22,069
5.1 Main refinancing operations 135,585 33,143
5.2 Longer-term refinancing operations 310,303 −11,010
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 5 −37
5.6 Credits related to margin calls 52 −26
6 Other claims on euro area credit institutions denominated in euro 39,236 2,602
7 Securities of euro area residents denominated in euro 476,561 −1,321
7.1 Securities held for monetary policy purposes 134,172 −1,008
7.2 Other securities 342,389 −313
8 General government debt denominated in euro 34,521 0
9 Other assets 304,685 −77
Total assets 1,914,538 21,959
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 842,671 −827
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 318,507 35,673
2.1 Current accounts (covering the minimum reserve system) 238,119 40,724
2.2 Deposit facility 5,371 −5,038
2.3 Fixed-term deposits 75,000 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 16 −13
3 Other liabilities to euro area credit institutions denominated in euro 2,451 −2,949
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 67,065 −11,362
5.1 General government 59,579 −11,081
5.2 Other liabilities 7,486 −281
6 Liabilities to non-euro area residents denominated in euro 40,646 2,580
7 Liabilities to euro area residents denominated in foreign currency 939 −650
8 Liabilities to non-euro area residents denominated in foreign currency 11,996 54
8.1 Deposits, balances and other liabilities 11,996 54
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 190,282 −560
11 Revaluation accounts 305,890 0
12 Capital and reserves 81,479 0
Total liabilities 1,914,538 21,959

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