Consolidated financial statement of the Eurosystem as at 9 September 2011

13 September 2011

Items not related to monetary policy operations

In the week ending 9 September 2011 the increase of EUR 1 million in gold and gold receivables (asset item 1) reflected the purchase of gold by one Eurosystem central bank.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) increased by EUR 0.3 billion to EUR 176.9 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 2.3 billion to EUR 336.8 billion. Banknotes in circulation (liability item 1) increased by EUR 0.3 billion to EUR 853.2 billion. Liabilities to general government (liability item 5.1) increased by EUR 0.7 billion to EUR 45.6 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 55 billion to EUR 191.5 billion. On Wednesday, 7 September 2011, a main refinancing operation of EUR 121.7 billion matured and a new one of EUR 115.4 billion was settled. On the same day, fixed-term deposits in an amount of EUR 115.5 billion matured and new deposits were collected in an amount of EUR 129 billion, with a maturity of one week.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (similar to the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 181.8 billion (compared with EUR 151.1 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 13.9 billion to EUR 202.4 billion. This increase was due to the net result of settled purchases under the Securities Markets Programme and the redemption of securities under the covered bond purchase programme. Therefore, in the week ending 9 September 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 142.9 billion and EUR 59.6 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 40.5 billion to EUR 139.3 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 363,249 1
2 Claims on non-euro area residents denominated in foreign currency 214,335 49
2.1 Receivables from the IMF 76,640 681
2.2 Balances with banks and security investments, external loans and other external assets 137,695 −632
3 Claims on euro area residents denominated in foreign currency 29,084 682
4 Claims on non-euro area residents denominated in euro 19,778 909
4.1 Balances with banks, security investments and loans 19,778 909
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 507,519 −6,252
5.1 Main refinancing operations 115,408 −6,261
5.2 Longer-term refinancing operations 392,055 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 20 6
5.6 Credits related to margin calls 36 3
6 Other claims on euro area credit institutions denominated in euro 48,024 −2,040
7 Securities of euro area residents denominated in euro 539,218 16,184
7.1 Securities held for monetary policy purposes 202,424 13,860
7.2 Other securities 336,794 2,324
8 General government debt denominated in euro 33,944 0
9 Other assets 331,212 3,709
Total assets 2,086,364 13,242
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 853,226 251
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 455,280 8,297
2.1 Current accounts (covering the minimum reserve system) 139,261 −40,485
2.2 Deposit facility 181,788 30,691
2.3 Fixed-term deposits 129,000 13,500
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 5,232 4,591
3 Other liabilities to euro area credit institutions denominated in euro 3,556 −669
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 54,315 967
5.1 General government 45,643 747
5.2 Other liabilities 8,672 220
6 Liabilities to non-euro area residents denominated in euro 46,993 3,298
7 Liabilities to euro area residents denominated in foreign currency 2,445 −246
8 Liabilities to non-euro area residents denominated in foreign currency 11,941 712
8.1 Deposits, balances and other liabilities 11,941 712
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 208,299 630
11 Revaluation accounts 316,657 0
12 Capital and reserves 81,481 0
Total liabilities 2,086,364 13,242

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