Consolidated financial statement of the Eurosystem as at 24 June 2011

28 June 2011

Items not related to monetary policy operations

In the week ending 24 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) remained virtually unchanged at EUR 177.2 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 2.3 billion to EUR 344.7 billion. Banknotes in circulation (liability item 1) increased by EUR 0.8 billion to EUR 843.4 billion. Liabilities to general government (liability item 5.1) increased by EUR 34.2 billion to EUR 93.7 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 44.8 billion to EUR 410.3 billion. On Wednesday, 22 June 2011, a main refinancing operation of EUR 135.6 billion matured and a new one of EUR 186.9 billion was settled. On the same day, fixed-term deposits in an amount of EUR 75 billion matured and new deposits were collected in an amount of EUR 74 billion, with a maturity of one week.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (compared with virtually nil in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 13.2 billion (compared with EUR 5.4 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.1 billion to EUR 134.1 billion. This decrease was due to the redemption of securities purchased under the covered bond purchase programme. Therefore, in the week ending 24 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 60.2 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 15.3 billion to EUR 253.4 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 217,697 −1,375
2.1 Receivables from the IMF 74,879 −1
2.2 Balances with banks and security investments, external loans and other external assets 142,817 −1,374
3 Claims on euro area residents denominated in foreign currency 23,719 −9
4 Claims on non-euro area residents denominated in euro 20,686 565
4.1 Balances with banks, security investments and loans 20,686 565
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 497,523 51,577
5.1 Main refinancing operations 186,942 51,357
5.2 Longer-term refinancing operations 310,303 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 213 208
5.6 Credits related to margin calls 65 12
6 Other claims on euro area credit institutions denominated in euro 40,951 1,715
7 Securities of euro area residents denominated in euro 478,820 2,259
7.1 Securities held for monetary policy purposes 134,122 −50
7.2 Other securities 344,698 2,309
8 General government debt denominated in euro 34,521 0
9 Other assets 307,587 2,903
Total assets 1,972,174 57,636
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 843,440 769
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 340,625 22,118
2.1 Current accounts (covering the minimum reserve system) 253,418 15,299
2.2 Deposit facility 13,189 7,817
2.3 Fixed-term deposits 74,000 −1,000
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 18 2
3 Other liabilities to euro area credit institutions denominated in euro 2,779 328
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 101,403 34,338
5.1 General government 93,736 34,157
5.2 Other liabilities 7,666 180
6 Liabilities to non-euro area residents denominated in euro 38,005 −2,641
7 Liabilities to euro area residents denominated in foreign currency 1,520 581
8 Liabilities to non-euro area residents denominated in foreign currency 10,056 −1,941
8.1 Deposits, balances and other liabilities 10,056 −1,941
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 194,366 4,084
11 Revaluation accounts 305,890 0
12 Capital and reserves 81,479 0
Total liabilities 1,972,174 57,636

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