Consolidated financial statement of the Eurosystem as at 14 October 2011

18 October 2011

Items not related to monetary policy operations

In the week ending 14 October 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 191.9 billion on account of customer and portfolio transactions and US dollar liquidity-providing operations (see below).

US dollar liquidity operations
Value date Type of transaction Maturing amount New amount
13 October 2011 7-day US dollar liquidity-providing reverse transaction USD 0.5 billion USD 0.5 billion
13 October 2011 84-day US dollar liquidity-providing reverse transaction - USD 1.4 billion

The liquidity-providing transactions were conducted by the Eurosystem in connection with the temporary reciprocal currency arrangement (swap line) that the European Central Bank has with the Federal Reserve System.

The holdings by the Eurosystem of marketable securities other than those held for monetary policy purposes (asset item 7.2) decreased by EUR 0.5 billion to EUR 337.9 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.1 billion to EUR 859.5 billion. Liabilities to general government (liability item 5.1) decreased by EUR 9.1 billion to EUR 45.2 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 123.9 billion to EUR 287.2 billion. On Wednesday, 12 October 2011, a main refinancing operation of EUR 198.9 billion matured and a new one of EUR 204.9 billion was settled. On the same day, a longer-term refinancing operation of EUR 54.2 billion matured and a new one of EUR 59.1 billion was settled. Also on Wednesday, fixed-term deposits in an amount of EUR 160.5 billion matured and new deposits were collected in an amount of EUR 163.0 billion, with a maturity of one week.

Recourse to the marginal lending facility (asset item 5.5) was EUR 2.2 billion (compared with EUR 2.8 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 136.2 billion (compared with EUR 255.6 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 2.2 billion to EUR 224.5 billion. This increase was due to settled purchases of securities under the Securities Markets Programme. Therefore, in the week ending 14 October 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 165.2 billion and EUR 59.2 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 144.4 billion to EUR 298.6 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 419,823 0
2 Claims on non-euro area residents denominated in foreign currency 227,103 299
2.1 Receivables from the IMF 80,401 0
2.2 Balances with banks and security investments, external loans and other external assets 146,703 299
3 Claims on euro area residents denominated in foreign currency 32,231 −2,362
4 Claims on non-euro area residents denominated in euro 19,803 −634
4.1 Balances with banks, security investments and loans 19,803 −634
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 586,619 5,929
5.1 Main refinancing operations 204,939 6,059
5.2 Longer-term refinancing operations 379,474 540
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 2,166 −671
5.6 Credits related to margin calls 40 2
6 Other claims on euro area credit institutions denominated in euro 78,180 9,846
7 Securities of euro area residents denominated in euro 562,443 1,701
7.1 Securities held for monetary policy purposes 224,496 2,243
7.2 Other securities 337,946 −542
8 General government debt denominated in euro 33,966 1
9 Other assets 350,689 349
Total assets 2,310,857 15,129
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 859,517 −97
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 597,991 26,477
2.1 Current accounts (covering the minimum reserve system) 298,573 144,429
2.2 Deposit facility 136,194 −119,374
2.3 Fixed-term deposits 163,000 2,500
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 223 −1,078
3 Other liabilities to euro area credit institutions denominated in euro 3,494 1,537
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 53,281 −9,125
5.1 General government 45,205 −9,089
5.2 Other liabilities 8,076 −36
6 Liabilities to non-euro area residents denominated in euro 48,319 31
7 Liabilities to euro area residents denominated in foreign currency 2,545 −1,131
8 Liabilities to non-euro area residents denominated in foreign currency 10,449 −1,801
8.1 Deposits, balances and other liabilities 10,449 −1,801
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 54,486 0
10 Other liabilities 216,017 −762
11 Revaluation accounts 383,276 0
12 Capital and reserves 81,481 0
Total liabilities 2,310,857 15,129

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