Consolidated financial statement of the Eurosystem as at 17 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.