Consolidated financial statement of the Eurosystem as at 5 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 | ||
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