Consolidated financial statement of the Eurosystem as at 22 July 2011

26 July 2011

Items not related to monetary policy operations

In the week ending 22 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) decreased by EUR 0.2 billion to EUR 178.2 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) decreased by EUR 0.6 billion to EUR 350.6 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.4 billion to EUR 853.0 billion. Liabilities to general government (liability item 5.1) increased by EUR 12.4 billion to EUR 79.4 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 21.4 billion to EUR 401.3 billion. On Wednesday, 20 July 2011, a main refinancing operation of EUR 153.6 billion matured and a new one of EUR 197.0 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 (approximately the same as in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 32.2 billion (compared with EUR 10.3 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 0.3 billion to EUR 133.8 billion. This decrease was due to the redemption of securities purchased under the covered bond purchase programme and the Securities Markets Programme. Therefore, in the week ending 22 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 74.0 billion and EUR 59.9 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 8.1 billion to EUR 250.5 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 363,251 0
2 Claims on non-euro area residents denominated in foreign currency 218,058 619
2.1 Receivables from the IMF 75,894 291
2.2 Balances with banks and security investments, external loans and other external assets 142,164 329
3 Claims on euro area residents denominated in foreign currency 24,642 1,437
4 Claims on non-euro area residents denominated in euro 20,273 281
4.1 Balances with banks, security investments and loans 20,273 281
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 508,610 43,454
5.1 Main refinancing operations 197,070 43,474
5.2 Longer-term refinancing operations 311,509 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 0 −29
5.6 Credits related to margin calls 31 10
6 Other claims on euro area credit institutions denominated in euro 57,280 4,848
7 Securities of euro area residents denominated in euro 484,458 −902
7.1 Securities held for monetary policy purposes 133,837 −347
7.2 Other securities 350,621 −555
8 General government debt denominated in euro 33,944 0
9 Other assets 295,544 −871
Total assets 2,006,061 48,867
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 853,036 −382
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 357,857 30,227
2.1 Current accounts (covering the minimum reserve system) 250,540 8,141
2.2 Deposit facility 32,167 21,913
2.3 Fixed-term deposits 74,000 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 1,150 173
3 Other liabilities to euro area credit institutions denominated in euro 4,448 75
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 87,271 12,388
5.1 General government 79,429 12,393
5.2 Other liabilities 7,842 −4
6 Liabilities to non-euro area residents denominated in euro 40,392 1,525
7 Liabilities to euro area residents denominated in foreign currency 3,439 207
8 Liabilities to non-euro area residents denominated in foreign currency 8,921 2,036
8.1 Deposits, balances and other liabilities 8,921 2,036
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 200,389 2,790
11 Revaluation accounts 316,657 0
12 Capital and reserves 81,480 0
Total liabilities 2,006,061 48,867

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