Consolidated financial statement of the Eurosystem as at 5 August 2011

9 August 2011

Items not related to monetary policy operations

In the week ending 5 August 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 177.8 billion on account of customer and portfolio transactions.

Securities of euro area residents denominated in euro/other securities (asset item 7.2) decreased by EUR 14.5 billion, while other assets (asset item 9) increased by EUR 17.3 billion, due mainly to an accounting reclassification by one Eurosystem central bank. Banknotes in circulation (liability item 1) increased by EUR 1.8 billion to EUR 857.6 billion. Liabilities to general government (liability item 5.1) decreased by EUR 35.4 billion to EUR 54.0 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) decreased by EUR 77.6 billion to EUR 295.1 billion. On Wednesday, 3 August 2011, a main refinancing operation of EUR 164.2 billion matured and a new one of EUR 172.0 billion was settled. On the same day, fixed-term deposits in an amount of EUR 74.0 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 134.8 billion (compared with EUR 49.9 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 133.7 billion. This decrease was due to the redemption of securities purchased under the covered bond purchase programme. Therefore, in the week ending 5 August 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 59.7 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 48.5 billion to EUR 159.8 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 363,250 0
2 Claims on non-euro area residents denominated in foreign currency 216,531 −1,169
2.1 Receivables from the IMF 75,890 −34
2.2 Balances with banks and security investments, external loans and other external assets 140,641 −1,135
3 Claims on euro area residents denominated in foreign currency 25,506 1,558
4 Claims on non-euro area residents denominated in euro 23,138 1,289
4.1 Balances with banks, security investments and loans 23,138 1,289
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 505,125 7,754
5.1 Main refinancing operations 172,021 7,821
5.2 Longer-term refinancing operations 333,075 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 0 −28
5.6 Credits related to margin calls 29 −39
6 Other claims on euro area credit institutions denominated in euro 50,860 −8,388
7 Securities of euro area residents denominated in euro 469,787 −14,568
7.1 Securities held for monetary policy purposes 133,694 −45
7.2 Other securities 336,092 −14,523
8 General government debt denominated in euro 33,944 0
9 Other assets 316,150 17,343
Total assets 2,004,290 3,819
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 857,564 1,826
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 369,848 36,932
2.1 Current accounts (covering the minimum reserve system) 159,814 −48,471
2.2 Deposit facility 134,825 84,957
2.3 Fixed-term deposits 74,000 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 1,209 446
3 Other liabilities to euro area credit institutions denominated in euro 6,478 1,323
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 62,481 −34,925
5.1 General government 54,034 −35,421
5.2 Other liabilities 8,447 496
6 Liabilities to non-euro area residents denominated in euro 39,123 −1,035
7 Liabilities to euro area residents denominated in foreign currency 1,512 −44
8 Liabilities to non-euro area residents denominated in foreign currency 10,597 444
8.1 Deposits, balances and other liabilities 10,597 444
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 206,380 −703
11 Revaluation accounts 316,657 0
12 Capital and reserves 81,480 0
Total liabilities 2,004,290 3,819

Media contacts