Consolidated financial statement of the Eurosystem as at 15 July 2011

19 July 2011

Items not related to monetary policy operations

In the week ending 15 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 0.9 billion to EUR 178.4 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) decreased by EUR 0.7 billion to EUR 351.2 billion. Banknotes in circulation (liability item 1) increased by EUR 1.7 billion to EUR 853.4 billion. Liabilities to general government (liability item 5.1) increased by EUR 2.3 billion to EUR 67.0 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 86.5 billion to EUR 379.9 billion. On Wednesday, 13 July 2011, a main refinancing operation of EUR 120.0 billion matured and a new one of EUR 153.6 billion was settled. On the same day, a longer-term refinancing operation of EUR 69.4 billion matured and a new one of EUR 67.8 billion was settled. Also on Wednesday, 13 July 2011, 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 (approximately the same as in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 10.3 billion (compared with EUR 65.7 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.2 billion to EUR 134.2 billion. This decrease was due to the redemption of securities purchased under the covered bond purchase programme. Therefore, in the week ending 15 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 60.0 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 84.8 billion to EUR 242.4 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 363,252 0
2 Claims on non-euro area residents denominated in foreign currency 217,439 1,119
2.1 Receivables from the IMF 75,604 1,323
2.2 Balances with banks and security investments, external loans and other external assets 141,835 −204
3 Claims on euro area residents denominated in foreign currency 23,204 −569
4 Claims on non-euro area residents denominated in euro 19,992 915
4.1 Balances with banks, security investments and loans 19,992 915
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 465,156 31,908
5.1 Main refinancing operations 153,597 33,573
5.2 Longer-term refinancing operations 311,509 −1,655
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 29 24
5.6 Credits related to margin calls 21 −34
6 Other claims on euro area credit institutions denominated in euro 52,431 6,610
7 Securities of euro area residents denominated in euro 485,360 −848
7.1 Securities held for monetary policy purposes 134,184 −165
7.2 Other securities 351,176 −683
8 General government debt denominated in euro 33,944 0
9 Other assets 296,416 −1,442
Total assets 1,957,194 37,692
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 853,418 1,663
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 327,630 30,256
2.1 Current accounts (covering the minimum reserve system) 242,399 84,837
2.2 Deposit facility 10,254 −55,433
2.3 Fixed-term deposits 74,000 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 977 852
3 Other liabilities to euro area credit institutions denominated in euro 4,373 −1,669
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 74,882 2,384
5.1 General government 67,036 2,257
5.2 Other liabilities 7,847 127
6 Liabilities to non-euro area residents denominated in euro 38,867 1,771
7 Liabilities to euro area residents denominated in foreign currency 3,232 1,298
8 Liabilities to non-euro area residents denominated in foreign currency 6,885 −1,657
8.1 Deposits, balances and other liabilities 6,885 −1,657
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 197,599 3,646
11 Revaluation accounts 316,657 0
12 Capital and reserves 81,480 0
Total liabilities 1,957,194 37,692

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