Consolidated financial statement of the Eurosystem as at 8 July 2011

12 July 2011

Items not related to monetary policy operations

In the week ending 8 July 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 0.8 billion to EUR 177.4 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 351.9 billion. Banknotes in circulation (liability item 1) increased by EUR 2.6 billion to EUR 851.8 billion. Liabilities to general government (liability item 5.1) decreased by EUR 7.0 billion to EUR 64.8 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) decreased by EUR 61.0 billion to EUR 293.4 billion. On Wednesday, 6 July 2011, a main refinancing operation of EUR 141.5 billion matured and a new one of EUR 120.0 billion was settled. On the same day, fixed-term deposits in an amount of EUR 74 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 (compared with EUR 0.5 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 65.7 billion (compared with EUR 24.9 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) remained unchanged. Therefore, in the week ending 8 July 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 74.2 billion and EUR 60.1 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 58.7 billion to EUR 157.6 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 363,252 0
2 Claims on non-euro area residents denominated in foreign currency 216,320 309
2.1 Receivables from the IMF 74,281 −1
2.2 Balances with banks and security investments, external loans and other external assets 142,040 310
3 Claims on euro area residents denominated in foreign currency 23,773 516
4 Claims on non-euro area residents denominated in euro 19,078 −1,421
4.1 Balances with banks, security investments and loans 19,078 −1,421
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 433,248 −21,906
5.1 Main refinancing operations 120,024 −21,436
5.2 Longer-term refinancing operations 313,163 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 6 −498
5.6 Credits related to margin calls 55 29
6 Other claims on euro area credit institutions denominated in euro 45,822 656
7 Securities of euro area residents denominated in euro 486,208 1,197
7.1 Securities held for monetary policy purposes 134,350 0
7.2 Other securities 351,858 1,197
8 General government debt denominated in euro 33,944 −49
9 Other assets 297,858 −4,387
Total assets 1,919,501 −25,084
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 851,755 2,590
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 297,374 −19,538
2.1 Current accounts (covering the minimum reserve system) 157,562 −58,650
2.2 Deposit facility 65,687 40,785
2.3 Fixed-term deposits 74,000 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 125 −1,673
3 Other liabilities to euro area credit institutions denominated in euro 6,042 956
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 72,498 −6,978
5.1 General government 64,779 −6,997
5.2 Other liabilities 7,719 19
6 Liabilities to non-euro area residents denominated in euro 37,096 779
7 Liabilities to euro area residents denominated in foreign currency 1,934 1,043
8 Liabilities to non-euro area residents denominated in foreign currency 8,543 −1,050
8.1 Deposits, balances and other liabilities 8,543 −1,050
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 52,170 0
10 Other liabilities 193,953 −2,886
11 Revaluation accounts 316,657 0
12 Capital and reserves 81,480 0
Total liabilities 1,919,501 −25,084

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