Consolidated financial statement of the Eurosystem as at 12 August 2011

16 August 2011

Items not related to monetary policy operations

In the week ending 12 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) decreased by EUR 0.3 billion to EUR 177.5 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 0.1 billion to EUR 336.2 billion. Banknotes in circulation (liability item 1) increased by EUR 0.6 billion to EUR 858.2 billion. Liabilities to general government (liability item 5.1) decreased by EUR 0.6 billion to EUR 53.5 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 98.3 billion to EUR 393.3 billion. On Wednesday, 10 August 2011, a main refinancing operation of EUR 172.0 billion matured and a new one of EUR 157.1 billion was settled. On the same day, a longer-term refinancing operation of EUR 67.7 billion matured and a new one of EUR 75.8 billion was settled. Also on Wednesday, 10 August 2011, 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. On Thursday, 11 August 2011, a longer-term refinancing operation of EUR 49.8 billion was settled with a maturity of approximately six months.

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 80.2 billion (compared with EUR 134.8 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 22.0 billion to EUR 155.7 billion. This increase was due to settled purchases under the Securities Markets Programme. Therefore, in the week ending 12 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 96.0 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) increased by EUR 127.0 billion to EUR 286.8 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 215,946 −585
2.1 Receivables from the IMF 75,909 19
2.2 Balances with banks and security investments, external loans and other external assets 140,037 −604
3 Claims on euro area residents denominated in foreign currency 26,772 1,267
4 Claims on non-euro area residents denominated in euro 20,525 −2,613
4.1 Balances with banks, security investments and loans 20,525 −2,613
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 548,052 42,927
5.1 Main refinancing operations 157,073 −14,948
5.2 Longer-term refinancing operations 390,830 57,755
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 6 6
5.6 Credits related to margin calls 143 113
6 Other claims on euro area credit institutions denominated in euro 52,528 1,668
7 Securities of euro area residents denominated in euro 491,930 22,144
7.1 Securities held for monetary policy purposes 155,694 22,000
7.2 Other securities 336,236 144
8 General government debt denominated in euro 33,944 0
9 Other assets 320,079 3,930
Total assets 2,073,026 68,736
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 858,176 613
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 441,489 71,642
2.1 Current accounts (covering the minimum reserve system) 286,783 126,969
2.2 Deposit facility 80,214 −54,610
2.3 Fixed-term deposits 74,000 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 492 −717
3 Other liabilities to euro area credit institutions denominated in euro 3,886 −2,592
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 62,044 −437
5.1 General government 53,481 −553
5.2 Other liabilities 8,563 116
6 Liabilities to non-euro area residents denominated in euro 40,001 877
7 Liabilities to euro area residents denominated in foreign currency 1,589 77
8 Liabilities to non-euro area residents denominated in foreign currency 11,454 856
8.1 Deposits, balances and other liabilities 11,454 856
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 204,079 −2,301
11 Revaluation accounts 316,657 0
12 Capital and reserves 81,481 0
Total liabilities 2,073,026 68,736

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